SOMA: Blockchain tech is messy, chaotic and great

Distributed ledger technology has the potential to revolutionise the way human beings transact. But there's hype aplenty as well, according to Jacob Andra, Chief Marketing Officer at SOMA.

In an interview with RTIH, he says: “Blockchain is not some homunculus that fits a single description. It's messy, chaotic, and full of good, bad, and everything in between.”

SOMA is a blockchain e-commerce platform due to go live in 2019. “Our ecosystem integrates social media functionality with the buying and selling process, allowing users to monetise social capital. Additionally, SOMA features a robust tracking protocol for the verification of provenance and the capturing of item history,” says Andra.

He adds that the startup has thus far flown largely under the radar. “There hasn't been much mainstream awareness until recently. Recent reactions tend towards, something like this is really needed,” he says.

The plan is to launch its e-commerce marketplace in Q1 2019, initially targeted to the luxury goods industry. “We already have several merchant partners in the luxury watch sector, and we'll be onboarding more. We'll also run a user acquisition campaign, initially targeted to lovers of fine watches and fashion. By Q3 2019, we'll be branching into adjacent sectors and growing our user base even more.”

Read the full interview here.