UPI is an Ethereum token that powers Pawtocol, a platform for collecting and monetizing data about pets. Users can gain health insights on their pets using an IoT-enabled sensor and can earn UPI by anonymously sharing that data with the Pawtocol network.
What Is Pawtocol (UPI)?
Pawtocol (UPI) is a multi-functional platform for pet lovers all across the globe. The platform envisions integrating the perks of decentralization and transparency into the booming pet care industry. The platform seeks to round up a global community of pet parents, manufacturers of pet products, and service providers contributing towards enhanced pet care. Pawtocol developed a blockchain technology to promote and optimize a pet-focused economy.
According to its whitepaper, the platform achieves the vision by incorporating advanced artificial intelligence and a blockchain-based reward structure to engage network participants and increase the use of pet technology within the ecosystem. For instance, pets cannot communicate when there’s some bodily discomfort. By introducing wellness-promoting, Pawtocol seeks to educate pet owners with the right information, figure out the possible cause of health issues, and suggest alternative diets and pet care routines. As its website mentions, Pawtocol is dedicated to benefiting pet owners with up-to-date technology. Thus, the platform launches pet tags, a unique tech wearable containing the pet’s data. Pawtocol utilizes IoT sensors to gather and process data related to pets and breeds and launches a Pawtocol tag app, ensuring that no pet data is unavailable. IoT or ‘Internet of Things’ refers to a network of physical things integrated with software and sensors for a seamless exchange of data on the internet.
Pawtocol is community-driven and wishes to put power in the rightful hands of users. The platform features crowd-verification, allowing consumers to vet and review products and pet services. Crowd verification keeps pet owners from purchasing products that are misrepresented and connects pet parents with trusted service providers. Pawtocol utilizes blockchain technology to encourage users to earn using pet data available with them.
Powering Pawtocol’s pet care ecosystem is the native token UPI or the Universal Pet Income. Both users and businesses are granted UPI token rewards for sharing data, reviewing products, and putting out pet services. Network participants can use UPI to purchase toys and foods and avail of pet services within the ecosystem. The platform also allows users to mintNFTs unique to their pets, gather more NFTs, and trade cryptocurrencytokens for a better value in the NFT marketplace.
History of Pawtocol (UPI):
The founder of Pawtocol is Pawtocol LLC, a limited liability company in Delaware headed by Karim Quazzani. Karim is an accomplished entrepreneur with expert knowledge of client acquisition. Also, the Pawtocol whitepaper was created in January, 2021 and was last updated on October 2, 2021.
