Affiliate organizations are everywhere. These are the companies that act as middlemen between you, the customer, and the people you actually want to interact with. Of course, the affiliate will kindly put you in touch with these people – but for a fee. And it isn’t just the customer that gets hit in the pocket; spare a thought for the worker or company that needs to go through a middleman for custom.
A New Dawn?
Whisper it softly: middlemen could be about to face some serious issues. Now, the only people that would complain if this practice became fairer would be the middlemen themselves. Everyone else would be better off, both in terms of time and money. So, if a magical technology that forced affiliates to redefine their standards were to come along, the world would be a better place…right?
Well, blockchain technology is precisely that magic. And we’re seeing all kind of examples of blockchain startups using the smart contract system to streamline the practices of middlemen. Hoqu is one of those; they have set out to create a smart contract-based affiliate platform, on which merchants and affiliates can directly communicate. Using blockchain technology and smart contracts means that communication and transactions are secure, and costs and time are dramatically reduced. Of course, with smart contracts, it also means that becoming an affiliate is extremely easy, but far less exploitative than pre-blockchain systems.
It almost goes without saying that Hoqu are providing a tokenized system. The benefits of using HQX as the method of transaction include a reduction in cost of nearly 50%, and a policy of pay-as-you-go; no monthly payments.
Hoqu’s ICO ended on the 11th January, raising just over $18million. While this didn’t get them to their target, they do still have a pathway map to their stated goal of a live system – you can take a look here.