Smilo

What is Smilo

The Smilo platform was born from a spark of inspiration in June of 2017, when the founders of Smilo noticed some blockchain-based platforms were created with privacy and anonymity in mind, but none of these platforms could provide users with smart contracts and decentralised applications.

What is the Smilo platform?

Smilo is a unique blockchain platform which supports the combination of hybrid transactions, hybrid smart contracts, and hybrid decentralised applications — with ‘hybrid’ referring to both public and private. Smilo's intent is to use blockchain technology to create an alternative protocol for decentralised applications.

What is Smilo’s unique selling point?

Smilo's unique strength stems from its combination of several features. The best affordances of the Smilo platform are the hybrid transactions, -smart contracts, and -decentralised applications. No other platform has yet to combine these features.

A combination of these features is very useful in many different scenarios, examples of which are explored further below.

Business overview

The core team of the Smilo platform consists of seventeen members with various specialities. In addition to the core team, the Smilo platform has access to over 200 developers to work for Smilo through freelance partnerships.

The leaders of the Smilo platform have over 30 years of business and IT experience.

Technical background

The intent of Smilo is to create a full-featured blockchain platform which hosts hybrid transactions, -smart contracts, and -decentralised applications. Since we are creating the platform in Java from square one, we can ensure it is completely open source.

Token management

For this new hybrid Smilo platform, two types of tokens will drive the network.

Smilo tokens are a part of the Smilo network itself, as they represent a user’s own personal shares and thus are emblematic of each user’s power to influence the network itself. SmiloPay tokens are the medium with which to pay for all service fees and upkeep of the Smilo network.

In total, 200 million Smilo tokens will be created, and these will generate 200 million SmiloPay tokens.

What is the Smilo platform?

The Smilo platform is a decentralised hybrid blockchain platform – ‘hybrid’ meaning both public and private. This platform is the first of its kind to support the combination of hybrid transactions, -smart contracts, and -decentralised applications.

Smilo's intent is to use the blockchain to create an alternative protocol for decentralised applications. Smilo's unique strength derives from the combination of multiple features:

Hybrid smart contracts

One of the best features of the Smilo platform is the hybrid smart contract functionality, which is a combination of both public and private smart contracts. Traditional blockchain platforms like X and Y provide their users with the ability to implement either private or public smart contracts as their code. Meanwhile, the Smilo platform is the first, and currently only, platform to provide developers with the means to combine both public and private contracts on one and the same chain. This element can prove very useful in many scenarios; take the social funding sector as an example.

Many people wish to donate their money to charity, but only if they know it will be spent responsibly by the organisation that receives it. Organisations which implement the hybrid technology offerings of the Smilo platform can show their benefactors the exact course of their donations through public smart contracts while using private smart contracts to keep open the option to donate anonymously.

For instance, Jacob loves nature, and he is very concerned about ongoing climate change. Therefore, he wants to donate a significant amount of money to Greenpeace. However, Jacob does not want to publicly share the details of his donation, though he does want insight into the expenses of Greenpeace. Greenpeace can use Smilo technology to keep Jacob’s personal donation private, whilst the expenses of Greenpeace are public through the use of hybrid smart contracts. This hybrid process generates more transparency and trust in charities, and Jacob can anonymously donate money to his favourite causes.