The My Place X system makes use of 3 important technologies; smartphone technology, GPS and Blockchain technology. We will be implementing a type of blockchain that effectively is an immutable distributed relational database. The user records the GPS coordinates using his smartphone. Since the accuracy of smartphone GPS is 6 m at best, the user also takes a photo of the residence. All this information, together with more traditional information, e.g. ID photo, name, surname, traditional address information (if available), is recorded and encrypted using the user’s private keys. More elaborate information, such KYC, ID number, etc are stored at a later date and linked to the original information block.
Myplacex ICO will begin on November 24, 2018. The ICO token supply represents 2% of the total token supply, so there is a total of 20,000,000 MPXT tokens available, for 0.0005 ETHA each. The ICO funding target is 20,000,000 MPXT, the funding cap is 30,000,000 MPXT and is expected to end on December 15, 2018 or when the funding cap is reached.
Token Reserve Split (98%):