summary: Centrality is a venture studio that partners with leading innovators.
content: Centrality (Founded in 2016) is a venture studio that partners with leading innovators in diverse industries to create a marketplace of applications. These applications allow users to manage daily tasks and experiences using peer-to-peer transactions, through a single login and using blockchain technology. Overview The company, Centrality is one of the leading blockchain venture studios globally. It is made up of a team of 75 members located in Melbourne, Singapore, Auckland, and London. They are a global network of investors who are driven by a strong vision. The company’s vision is to help the world move to Blockchain technology. Unlike other blockchain platforms which sell their tokens to raise funds for their projects, Centrality already had an extensive portfolio of over 20 applications that were already in use, generating significant value before the token sale. The applications all work together to help each other grow, building a one of a kind application marketplace that uses a standard token; the CENNZ token. Centrality is a decentralized ecosystem that connects different applications together using Blockchain-powered technology. This technology allows businesses to work together to gain scale through the shared acquisition of customers, data, merchants, and content. ICO Centrality conducted two funding rounds in 2017 and 2018 respectively. The first round was the ICO pre-sale round in October 2017, and it raised a total of $15 million. In January 2018, the team managed to raise 80 million in an ICO round. The CENNZ token was priced at $0.43 and a total of 840,000,000 CENNZ were available for the round. How Centrality Work Centrality creates the foundation for “Scenes”, then gets a share of the tokens in each application it powers in exchange for delivering the core technology and ecosystem Various Scenes plug into Centrality; each Scene uses the CENTRA token to purchase modules for their app, thus creating connections to users, data, content, merchants, and currencies across the ecosystem Scenes across different use cases work together to acquire users, data, merchants, and content; smart contracts are used to ensure different companies can trust one another Each Scene is focused on creating its own business, including partnering and onboarding users; meanwhile, Centrality focuses on powering the technology and design Essentially, Centrality creates a blockchain-based ecosystem where companies can access a wide range of valuable services – including everything from customer onboarding modules to payment processing platforms. Companies can focus on what they do best – growing their business – while Centrality continuously develops and expands their blockchain and Dapp ecosystem. CENNZX CENNZX is a decentralized spot exchange for generic assets on CENNZnet. It’s built on the CENNZnet blockchain meaning all transactions are signed by CENNZnet accounts and permanently recorded on-chain. This provides CENNZnet users with a fast, secure, and transparent exchange experience. Users can use CENNX in two ways: As a liquidity provider As a currency exchange user. Centrality’s DApps Centrality has a number of decentralized apps (DApps) built on its own blockchain. The company calls these DApps “Scenes”. Centrality has completed four Scenes so far, with four additional scenes in development. Skoot: Skoot describes itself as “a travel experience marketplace”. It consists of a virtual companion designed for inbound visitors and free independent travelers. Using patented technology, Skoot helps users find interesting things to do while traveling. Skoot has partnered with New Zealand rental vehicle and camper hire companies to generate new revenue opportunities. Meanwhile, the Skoot marketplace allows traditional tourism operators to streamline their supply chains and enable a peer-to-peer marketplace for individuals to offer experience in their spare time. Belong: Belong is an employee engagement platform and marketplace that aims to help businesses provide rewards – or perks – for employees. It includes a non fiat currency to enable non salary based incentives. Belong also has a financial services engine for managing group and personal insurance plans, claims, and entitlements. Merge: Merge is a smart travel app that functions as a time management system for those living in cities. You tell Merge when you want to leave, or at what time you want to arrive at your destination. Merge tells you the best time to leave using various modes of transportation – from driving to public transit to ride sharing apps. UShare: UShare is a transport application that works across taxi services, rental vehicles, electric bikes, public transport, and more. The Economic Model Centrality has partnered with a number of use cases that will prompt consumers and brands to transact with and through CENNZnet. CENNZnet turns the traditional funding method on its head. Traditionally, when somebody invests money into a business, that money is used to build technology from scratch. This often results in duplication of components that already exist elsewhere, making it hard to scale efficiently without a huge investment DApps has access to CENNZnet and its open-source library of tools and services: messaging via Sylo, single sign-on via SingleSource, smart wallet via Centrapay, and spot exchange via CENNZX and patent pending permissions and delegations protocol, Doughnut. Developers will use these core services to build applications with ease. The CENNZnet token economy has been designed for both developers and users in mind. It will be cost-efficient to run applications on CENNZnet and good applications will be incentivized to grow. Those who use the network and help it grow will be rewarded. CENNZnet Transactions All transactions on the CENNZnet require the user to pay a transaction fee. The transaction fee can be paid in any currency supported by CENNZnet (initially this will be CENNZ and CPAY but it will expand to include DApp tokens used on the network) and will be automatically converted into CPAY at the current spot value. Transaction fees are important for the security of the network as they prevent malicious parties from trying to inundate the system with transaction requests, in what’s known as a Denial of Service attack. Someone trying to overload the service with transaction requests would have to pay A LOT of money to be successful. The more transactions that have taken place on CENNZnet the more transaction fees are acquired. At the end of the era, the pool of CPAY made from transaction fees is split up and divided equally and proportionally between Validators. The Validators then distribute the reward proportionally amongst their associated Nominators. CENNZnet Tokens CENNZnet operates on a dual-token economy. CENNZ for staking and governance, and CPAY for network transactions and block rewards. Anyone with CENNZ can stake their tokens to earn block rewards. CENNZ CENNZ is a staking token; it can increase in value without impacting the cost of using the network. This is important to ensure developers can predict the costs of running their applications. In popular blockchain systems today, the costs of development are variable and subject to external factors, which makes it hard to plan ahead. CENNZnet has been designed to deliver predictable costs and optimal usage. The demand for CENNZ has increased as more users join the CENNZnet network and generate more activity in the form of transactions. CENNZ tokens are required to join CENNZnet as a validator. Staking CENNZ enables users to participate in the network consensus by securing and governing the network. It also provides them with block rewards in the form of their fee token, CPAY. CENNZ is used for staking and governance. CPAY CPAY works like gas in the network and can be used for transaction fees and block reward payments for stakers. It’s designed to be algorithmically stable, so developers can easily predict the cost of their application, and stakers can easily predict the value of their stake. CPAY can initially be tradable on the CENNZX exchange or can be transferred directly between wallets. CPAY is used for network transactions and block rewards. Generic assets payment Transaction fees can be paid in any asset, provided there’s liquidity in the CENNZX spot exchange. CENNZX then seamless converts the assets into CPAY for fees. This will streamline by eliminating the need for new users to learn about CENNZ or CPAY when their favourite DApp. Staking on CENNZnet To take part in staking, users must; Hold CENNZ Agree to lock in and stake a minimum threshold amount of CENNZ (minimum stake will be 10,000 CENNZ for both nominating or validating). To be elected as a Validator user must also Run a node Agree to lock in and stake a Validator minimum threshold of CENNZ. Indicate interest in being a Validator. This is done by signing and submitting a transaction stating they want to be considered as a validator candidate. It will be available via cennznet.io but users can also build their own tools using Centrality APIs. CENNZnet NFT Module Centrality introducing the brand new NFT runtime module. Using the Centrality module users can mint and sell NFTs on CENNZnet without ever needing to touch a smart contract. Instead, users can create custom NFTs using just a JavaScript API or point and click with a UI. Not only will this make it super straightforward for anyone to mint NFT assets, but creators also won’t be locked into a specific marketplace. CENNZnet's protocol is to make blockchain development and functionality available to every