KapowChain LLC, a Denver Startup, Using Blockchain Technology to Disrupt the Collectibles Industry
DENVER. March 8, 2018 – With a suite of solutions in its arsenal, KapowChain, LLC is a Denver blockchain startup aiming to combat fakes, counterfeits and stolen items in the collectibles industry. Leveraging blockchain technology and smart contracts, KapowChain intends to increase profitability, transparency and enjoyment to comic shop owners and collectors.
“Blockchain and cryptocurrencies, while in its infancy, has already affected economic changes within governments and financial institutions. This technology gives us the opportunity to upgrade a billion dollar industry, provide security and confidence, and attract more collectors,” states Sang Truong, Founder of KapowChain, LLC.
KapowChain’s core solution, Digital Authentication Passport® (DAP) is a process of immutably securing encapsulated collectibles to a distributed ledger, also known as blockchain, using smart contracts. This proprietary tamper-proof process provides verification of authenticity and ownership to rare items. DAP allows collectibles to be tracked in the blockchain, maintaining its origin and history throughout its life. Using the DAP app, owners will be able to identify an item as in their collection or stolen.
Not only will DAP prevent stolen items from being sold to collectors, it will also prevent fraudulent items marketed to collectors. When using DAP to scan the tag, the buyer can verify proof-of-ownership or authenticity and transfer of new ownership is complete when seller receives payment with Kapow Coin. This assures collectors that a scam has not taken place. Thus building a trustworthy marketplace for all collectors.
When life happens and your collection is destroyed, proving ownership of collectibles is paramount. Insurance companies will require evidence that you owned valuable collectibles. Thanks to DAP now you can. KapowChain stores the complete history of all its nodes, leaving a trail that identifies ownership. “With this added assurance, collectors can remain confident that KapowChain has their back,” said Truong.
Starting in May, 2018, KapowChain crowdsale will be hard-capped at $15M. Early adopters have the opportunity to earn up to 30% bonus tokens. For more information, visit www.kapowchain.com.http://www.firstcomicsnews.com/kapowchain-llc-a-denver-startup-using-blockchain-technology-to-disrupt-the-collectibles-industry/http://www.firstcomicsnews.com/wp-content/uploads/2018/03/KAPOWCHAIN-Logo-600x257.pnghttp://www.firstcomicsnews.com/wp-content/uploads/2018/03/KAPOWCHAIN-Logo-150x64.pngNews