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Web3 helps people own and operate a personal Internet. Instead of corporations, people now have decentralized autonomous organizations that work between creators and consumers, defined by rules and the assets owned by them rather than the corporations. This breaks the limitations of first-party data, but time will tell if this is the start of a truly data-driven enterprise. However, Web3 has accelerated the rise of influencer/innovator-led economies due to the challenges of Web2.
Web3 has led to the rise of distributed and decentralized applications (Dapps) where there will be no single point of failure and no central authority. The applications are transparent, have a higher level of encryption, better heuristics for security and are completely unreliable. Web3 is still progressing. Most Dapps run on off-chain concepts to process capabilities, and transaction throughput is in progress. Also, asset ownership is still incomplete on the blockchain.
Tommy is a decentralized cloud services company/project that develops Web3-based disruption technology and offers new technology solutions that will be the basis for a decentralized Internet. The concept of a decentralized Internet is a profitable process that many companies have failed to develop. Tommy It introduces a completely new approach based on hardware solutions, software development and bespoke incentive system.
The Tomi system embraces some innovative uses of current technology, for example, they developed the Active NFT (aNFT) concept. They take the mostly used NFT technology to record the ownership of artworks and enable NFT owners to generate income from the NFT, making the NFT active while it works for its owner. In addition, their server computer acts as an asset for its owner while generating a steady income.
When asked how the company is outperforming its competitors, the CEO said: “We are also unique, unlike other tech/crypto/Web3 projects, our business model is based on physical assets – data servers that are able to provide cloud services and cryptocurrency mining, so we are not a project It is completely digital, but it also has a strong physical aspect to our business.”
Although the project was built about six months ago, Tomi has already made some significant milestones, including initial sales of over $1 million in presales, developing an operational prototype for their first generation server computer, the MP-1, and opening offices in Tel Aviv and New York. The Tomi team has signed a Memorandum of Understanding with a popular public company, Hyper Global, to develop their server computers for the next generation. Tomi’s team had progressive discussions with noteworthy exchanges (top 10 in the world) about listing their token to trade or receive investments. They have built an experimental multi-chain digital wallet and completed test transactions on it.
Like any other startup, the Tomi team faced some challenges. “I think our main challenge is to build an ecosystem that incentivizes all involved participants and create a truly decentralized project,” says CEO of Tomi. “This means that at some point, the project will be out of our control and will come under the control of the public.” . However, it encourages us to think big and never be afraid of innovative ideas or trying to take down tech giants.
The decentralized cloud services project aspires to become a global name in the future. Tomi’s team also hopes that the public and developers will adopt their technology and develop applications.
Note: Investing in crypto assets and cryptocurrencies is subject to financial risks and readers should conduct their own due diligence. Entrepreneur Media does not endorse any such investment.