Centrality is a venture studio working with key industry innovators to develop a marketplace filled with decentralized applications (dApps). Using those applications, consumers can manage their daily experiences and tasks via peer-to-peer transactions. The key part of Centrality is that users rely on a single login and blockchain-enabled infrastructure for all these applications.
The growing team behind Centrality is among the leaders for blockchain venture studios worldwide. There are 75 people on the team in Auckland, Singapore, Melbourne, and London. Centrality also has the backing of a global network of investors with a common vision of helping the world use the blockchain to enable the future.
How Does Centrality Use the Blockchain?
Centrality considers their method of using infrastructure “blockchain agnostic.” On the website, this is defined as using several different protocols, including one of Centrality’s own that shows great promise. With the blockchain, Centrality can deliver a marketplace that is decentralized in nature and scalable.
Additionally, Centrality uses smart contracts, including a wide range of contracts for various purposes. They can be used to on-board users, share revenue, pay merchants, reward token holders, exchange tokens, and manage identity. All smart contracts will be made public.
Why Did the Team Create Centrality?
The team behind the project created Centrality in response to the need for a fair, equal world for users. They feel that instead of big internet companies controlling user data, Centrality’s marketplace will ensure that people can control their data. At the same time, it will give smaller companies the chance to work together, improving their chances of success.
How Does the Centrality Technology Work?
The platform behind Centrality creates the foundation for the marketplace. Applications can then join this marketplace by simply plugging into the platform. When users sign up for a single application, they are automatically able to opt-in to any or all other applications on the platform without any additional steps required. Every application can focus completely on developing its own businesses and partnerships, as well as on-boarding customers, helping the merchants with efficient use of resources and the customers with user experience.
What Is Centrality’s Real-World Experience?
While many blockchain projects simply work towards a long-term goal and do not have any completed projects yet, Centrality already has an ecosystem with real-world applications, and that ecosystem keeps growing. It also has an active user base and revenues that keep increasing. In fact, Centrality already has more than 20 applications, all of which are already functional and have generated value. The applications work together, helping others grow.
Even with the real-world experience and solid foundation, Centrality has a serious goal for the future: mainstream adoption.
What Is Centrality Ventures?
Centrality Ventures is the incubator that fully immerses projects in the blockchain and is highly flexible. It makes it possible for businesses to scale within the blockchain ecosystem. The team encourages those with great ideas for platforms or projects that would benefit from the blockchain-based technology stack, including platforms on the infrastructure level and customer-facing applications that make an impact.
With Centrality Ventures, businesses can see a lower cost and less time spent working to bring their visions to the market thanks to the ecosystem’s combined scale. The system is component-based so you can have complete flexibility over the product. The application process for venture projects has already completed, and the program began April 4.
What Is the CENNZ Token and What Should You Know About It?
CENNZ is the utility token behind Centrality and it connects the marketplace applications with users and software. Applications can rely on the token to buy modules that they need to quickly integrate and build their application. They may also use CENNZ as a reward for referrals from other applications or rewarding customers for participating. Customers can receive their CENNZ tokens from various apps, growing their token portfolio. CENNZ are usable in any part of the marketplace.
There is even a CENTRAPAY platform that merchants can use to allow users to buy physical goods in real-world transactions using CENNZ. These transactions will take place just like any other at a traditional PoS system or web checkout.
Instead of being mined, CENNZ tokens are minted then earned, and the quantity of tokens will only be those issued during the main sale. As such, as the use of Centrality and demand for the platform and its applications increases, the demand for the tokens will increase, likely increasing its value.
Centrality created CENNZ to follow Singapore and New Zealand Law. The token is a legal entity with an independent board. Thanks to work with WongPartnership and Bell Gully for their tax and financial market expertise, the token has an efficient, compliant structure.
When Was the Token Sale?
The CENNZ token sale already ended. Over 8,000 AML and KYC registered buyers used the Blockhaus sales application to invest with over $265 million USD pledged. That figure leads to the CENNZ token sale being among the most popular ICOs ever. Both the presale and the main sale had a hard cap of $100 million as part of Centrality’s goal of having a responsible launch campaign.
Since the token sale sold out in record time, Centrality recognizes that some investors wanted to participate but did not do so in time. The team encourages those potential investors to keep their funds on the Blockhaus sales app, hinting at another token sale announcement in just a few weeks.
Only 70 percent of the total number of tokens will be sold. Another 25 percent will be used for buying intellectual property in the platform that Centrality Investments owned. The final 5 percent is set aside as a reserve for the platform.
CENNZ is currently only available to purchase on the Cryptopia exchange.
Conclusion
Centrality already offers a peer-to-peer marketplace where merchants can offer applications and use the blockchain to improve their experience and that of customers. With planned expansions and the growth of applications, the project has the potential to take off. A strong point of Centrality is the fact that it already has functional applications and services, something most companies do not have so soon after their ICOs, let alone before them, like Centrality did.
