Swiss entrepreneur Stefan Hostettler has been an entrepreneur and connector for most of his life. In 2016, Hostettler caught the blockchain bug like a lot of entrepreneurs and decided to focus on building what would become a global community of 30,000 people in over 80 countries, all participating in his company’s digital asset ecosystem.
His project, Tycoon69 International, based on its own blockchain, the Tycoon Chain, is a new digital ecosystem that focuses on the transaction and facilitation of gift cards and other digital products. The suite of products ranges from an exchange over a wallet, to private money for the people.
To learn more about Stefan’s vision, he was kind enough to provide more insight.
What first interested you in blockchain and digital assets?
Like many people, the concept of being able to control your assets free from banks was a revelation. Not only does crypto help lower unnecessary fees, it allows people to transfer money quickly and safely. The now unbanked have an opportunity to transact and create business opportunities for themselves and their families. For the first time ever, there is a playing field for everyone around the world to participate in the growth of digital assets.
Is this where the concept of Tycoon69 International came from?
In short, yes. My profession has been in marketing for the past 3 decades. This included community building and networking with people around the world. Cryptocurrencies made complete sense as the essence of a strong cryptocurrency project is its community. A community is what will translate into ambassadors, natural marketers, and most importantly users. This is the greatest challenge across the industry currently. How can we show people the value of digital assets in a way that is easy to understand and comprehend? For us, the answer was to build a business model that focuses on activities that people currently do anyway. For example, transacting gift cards and focusing on cashback rewards.
Once you build a solution to a common problem, half of the battle is over. The second half is informing people on the importance of digital assets and how they can positively impact everyone’s lives.
So what exactly does your project do?
Our ambition is to create a new digital economy. Tycoon69 International is established with the vision to disrupt the enormous global gift card business. We will do this by offering an ecosystem comprised of Dapps, our own proprietary blockchain, SAFE gift card tokens, coupon tokens, loyalty tokens, user wallets, and even a customized merchant software to process everything. The blockchain will be based on a consensus mechanism called Delegated Stake Proof (DPoS).
If this sounds confusing, just keep in mind everything is integrated and built around ease of use. End consumers will not need to know about the underlying technology as our applications are built with a goal of keeping the learning curve low. For example, all of our tokens are integrated into our exchange and compatible with external exchanges that we list on.
Can you explain more about DPoS?
Sure, DPoS has been around since it debuted on the BitShares network in 2014. It was developed by Dan Larimer, who went on to create Steemit and Block.One. When thinking of DPoS as a consensus model, compared to traditional PoW and PoS models, think of DPoS as a representative democracy wherein individual users utilize their stakes in order to nominate delegates to serve on their behalf.
These representatives are in charge of validating transactions and securing the T69 network. Delegates are granted transaction fees in this representative system and in some cases, such as T69, additional tokens to cover operating costs and safeguard their vested interest in the network’s productivity and safety. If they execute their responsibilities badly or use their power in a way that does not represent the electorate’s will, votes may be rescinded and allocated to a fresh representative, thereby ensuring network security.
We will elect 53 delegates to maximize network effectiveness.
This sounds interesting. How has the project progressed since launching?
So far, so good. We now have a community of over 30,000 people across 80 countries. Our token is currently listed on P2PB2B and Emirex. Our executive team is comprised of many highly-respected blockchain leaders like Jason King and Andreas Kusche. Overall, we are excited to help give people the chance to create new opportunities for themselves using our platform!