Many are unaware of this term and what it represents. Some of the people, who have heard of it, think it is a new internet. Is it really? It is, without any doubt, an invention that is ingenious. Over time, this technology evolved and people started asking about it. They wanted to know what it is and why is it getting so much recognition.
What blockchain technology does is it creates a part of a new kind of internet. It doesn’t copy digital information, it distributes it. In the beginning, it was created for Bitcoin. Nowadays, the technology community has found more potential in it. Everybody has heard of Bitcoin, it is so-called “digital gold”. Its currency is about $112 billion US. Blockchain is able to make different kinds of digital value. However, you don’t really need to know how it works. You can use it without that knowledge, like the internet. Still, it can’t harm you to know a little about it. This technology is thought of as revolutionary, and since 2018, blockchain developers are in high demand. They are using blockchain technology and algorithms to develop social media networking applications based on user behaviours.
When it comes to its durability, blockchain technology won’t fail. It cannot be in a control of one entity. Since the Bitcoin was invented, in 2008, its blockchain didn’t have problems with operating. It there was any malfunction, it was due to mismanagement or hacking. The concept itself wasn’t causing disruption, human mistake and bad intention were. What blockchain does is it solves the issue of manipulation.
Everyone worries about their safety and privacy because they know how easy it is to get hacked or tricked. The security with blockchain is enhanced and there is no risk when it comes to your data. Blockchain stores the data around its network. You are at risk when the data is stored centrally which is exactly what this technology avoids. Most of the people rely on their username or password, but that is not a reliable option. That type of system is not enough to protect us. Security method that blockchain is using is encryption technology.
The statistics say that their leading app REC*IT is growing with more than 889,000 first launches until 6th October 2016. REC*IT has achieved a certain success. The results are higher compared to the year before. It demonstrates the increase of 43% compared to last year. That means the number of first launches increased with 154,000 new launches. Besides that, the number of unique visitors has also grown. That number is 241,000 which means, that the increase demonstrates 65% more than in the year before at the same period. That is not all since screens that were viewed per session got 13 more, demonstrating the increase of 33% more in comparison to the previous year.
The CEO of MOKO states that their product has widely engaged the market of US students. The number of students has went up with the help of REC*IT take-up. MOKO has its future goals in mind and that is to revenue the growth. Besides that, the plan is to drive their sales. The plan is to do so by leveraging their leading position. With the help of new faces in the company, MOKO will take its business to a completely whole new level. Their aim is to forge more brand partnerships in the near future. As previously mentioned, the company has a new set of hands. They are experienced and have much expertise.
Mr. James is experienced in project development, public company management and in finance. He has more than 30 years of experience altogether. He has worked overseas in a few countries. Currently, he is MRJ Advisors’s principal. Mr. James worked in several companies where he showed his capability and leadership. The capital he has been involved with is more than $2.5 billion, including debt raising as well. He is committed and hardworking, and statistics says it for itself. Other than that, he has done philanthropic work overseas, but in Australia too. He was fighting to promote employment that was long-termed.
Mr. Ross is a second new face with amazing and various experience. He has worked on many projects where he showed his skills and capability. With his and Mr. James’s ideas, MOKO has big plans for its future. They are already working on new, improved projects. When it comes to Ross’s positions, he is General Manager for FanDuel at the moment. That is a large company, the largest in its field. He provided them with guidance and expertise in a period of growth that was unprecedented. Before FanDuel, he worked for Palace Sports. His role was of a Vice President that included Strategy and Business Operations for the company. Prior to that, he had senior roles and senior positions at other companies such as Cleveland Browns and Miami Dolphins.
Mr. Ross attended the University of Colorado where he got a BS in Journalism. His major was Public Relations, and he justified his diploma over the time, showing his strategic skills. In 1991, he attended the Executive Program of Sports Management Institute.
MOKO made a strategic decision in a previous year and the results are positive. They wanted to solely focus on one part and to neglect everything else. The decision was to put US student market in first place. Their intention was to stop concentrating on other categories of business and put all the work into one. That plan turned out to be successful. They didn’t spend time on different categories because it would take their time. In the end, results would be partial and unsatisfying. By concentrating on only one specific market, they were able to investigate more. MOKO reached out and understood the demands of this certain market.
The exposure of MOKO increased quite a lot. The exposure went up to over than half of population which includes US college students. In a period of six months, 125 new colleges were added to their list. Another highlight was the execution of a marketing partnership. It was ‘REC*IT first partnership with an important US brand. That move enhanced the name MOKO even more. New partnerships are waiting to be executed. Other brands are getting interested and that will lead to even more satisfying results in the near future.
MOKO has gotten a lot of proposals and they are reviewing them all as well as all possible options. Their aim is to enhance the value of the shareholders, so they can execute their strategy. MOKO made a strong foothold in the colleges of US and in highschools too. That market is giving them a good response and new opportunities. They plan to spread their foothold and make even better results using blockchain technology and algorithms to develop social media networking applications based on user behaviours.
The only thing that decreased was its total expense. It lowered by 5% to $20.1m. Marketing made reductions as well as the benefit expenses for employees. In a previous year, net cash that was used for operations estimated $14.8m. This year, that amount dropped to $12.9m which is a significant difference. MOKO is not stopping when it comes to finding new and improved strategies. There are a lot of more options that they are taking into consideration. These numbers showed there is always room for improvement and enhancement.
MOKO commenced with another app which should help in managing recreational programs and facilities. App making is in the process and they are paying attention to every detail. After this one is finished, MOKO has a few more as sketches. Upcoming apps are not finished and they are yet to be thoroughly planned. There are more different ideas that are discussed. In the end, MOKO might choose only one app to launch, if they find it appropriate. There is a big possibility that the company will launch more apps at once, according to their chairman. He says they are bringing even more innovations and one might not be enough. He continues that the presented ideas are various but equally good and efficient. Therefore, the results in the upcoming years might be even more surprising and satisfying than in this one.