Crypto Exchange Cobinhood To Support SimplyBrand’s Anti-Counterfeiting ICO

Blockchain, ICO News, News | October 17, 2018 By:

Crypto exchange Cobinhood has teamed with e-commerce verification platform simplyBrand to provide advice and support for its anti-counterfeiting initial coin offering (ICO).

Founded in 2017 by Popo Chen, Cobinhood is a zero trading fee cryptocurrency​ exchange platform. The name is inspired by Robinhood​, a commission free trading platform for securities​, primarily stocks​ and bonds​. It aims to be to cryptocurrencies​ what the Robinhood​ app is to equities​, which is the reason for the platform’s unusual name.

SimplyBrand is an ecosystem combining artificial intelligence (AI), blockchain and crowdsourcing to eliminate counterfeit products in digital commerce. It enables people and AI to collaborate utilizing the unique features of blockchain technology to strengthen security in online purchases.

SimplyBrand’s native token SBA will be used to reward crowdsource participants and enforcement agencies that aid in the manual verification and consensus decision process. It will also be used to purchase brand privileged items on the platform or be traded on other exchanges. The SBA token’s private ICO, which commenced on October 16, has set a hard cap of 20 million.

Under the partnership, the two companies will work to combat counterfeit transactions within e-commerce platforms to make digital commerce more trustworthy. Cobinhood will support and advise simplyBrand on its ICO, and will list the SBA token on its zero-fee exchange after the token sale.

Kaufman Chang, Founder and CEO of simplyBrand, said that they want to empower society to embrace online shopping and create a better experience for one another.

“With e-commerce giants, such as Amazon, the future of retail is transforming into a digital ecosystem,” Chang said. “We know that this will start with blockchain as it creates the transparency needed when visiting a digital checkout counter with no employees to be found. With Cobinhood’s backing and strong expertise in building a blockchain based community, we will be able to bring about necessary change.”

Cobinhood Co-founder Popo Chen said that the potential to strengthen the global digital economy is what makes the simplyBrand project so exciting.

“SimplyBrand is bringing much needed protection to online purchasing and Cobinhood will continue to back the company in its resistance against counterfeiters,” Chen said. “We’re very excited to support this project and look forward to the success of the sale.”