In 2017, blockchain technology grabbed headlines across the world as the implications of distributed ledger technology became apparent across all industries and sectors. Suddenly, everyone wanted to build on the blockchain-and many financial gurus started calling this “the dot-com boom, all over again.”
With all of the hype around blockchain technology, industry experts are looking to disrupt even the most specialized fields. According to Fortune, IBM and Walmart are working to track shipments of pork in China more effectively on the blockchain. Other more traditional applications include financial services, gaming, and cloud computing.
Whenever handling a powerful new technology, industry is always forced to quickly adapt or die. Radio forever changed marketing and the internet forever changed retail. Now, blockchain is forcing entire industries to reexamine why and how they do things.
Everybody from big banks to social media companies are re-examining their tech and business models in an attempt to see how the revolutionary technology of blockchain can better help them get done whatever it is they need to get done.
In CRYSTALS‘ case, their taking a long hard look at the way clients and models find each other and exchange currency. And their answer may not be the first thing you would think of when you think of blockchain innovation: a catalog.
But not just any social network– a social network where models can easily market their services and explain their past work to potential clients. Those clients can then book those models and help each other build a reputation as a vendor and customer. All of this would be taking place within the transparent, secure, and decentralized space facilitated by blockchain.
CRYSTALS works by allowing models to upload a profile to the sleekly-designed and free social network. Every client participating must first go through a verification process, ensuring vetted and trustworthy partners. These clients can then interact directly with models on the system, creating a global social network of relationships and reputation. This system would make the process of clients finding models vice versa easier, cheaper, and more secure.
An added component for security and global access are CRYSTALS’ native coin, the CRS Token. CRS Tokens will be the currency that allows companies to book models, which models can then exchange for USD. The tokens will be transferred out from the account of the bookers and placed into an escrow.
Upon a second confirmation from a mobile phone app, the CRS Token will be transferred to the models’ account. This will prevent the common abuses of the insecurity of the current model system, namely the underpayment of models and booked models who don’t show up for jobs and taking the deposit.
By utilizing cryptocurrencies, clients can lower the cost of payment to send money in and out of countries. By expanding the potential market for buyers and sellers to the international level, CRYSTALS and CRS Token may very well revolutionize the market for everybody.
There are many reasons why the modeling industry is ripe for the blockchain revolution. Clients often spend far too much time and money trying to locate the appropriate models. Even worse, without a verified system that rewards past service and reputation, this venture can often be a high-risk affair.
Additionally, the system is currently dictated by agencies, a feature which inflates the cost of buyers and sellers alike with fees. A decentralized system that would allow business to interact directly with other business would be the ideal solution- and CRYSTALS believes they have it.
CRYSTALS’ mission mirrors that of the initial adopters of blockchain– to increase global engagement by reducing the traditional barriers to international trade and commerce. By introducing its own social network and facilitating trade with its own currency, CRYSTALS may very well accomplish a feat of global engagement of startling proportions.
The trajectory of CRYSTALS seems to only be up. With the recent edition of official Playboy Russia photographer Nikolas Verano, the platform is widening its audience. Utilizing his experience and relationships, CRYSTALS will be able to effectively serve both amateur and professional models. Whether or not it will successfully realize its mission is yet to be determined, but one thing is sure: CRYSTALS is one of the most exciting new players on the blockchain playing field today.
