When the blockchain era arrives, all the transactions will be transparent and decentralized. While other blockchain companies tackle medical, logistics and real estate, this company wants to tackle the boom of startups around the world and help them easily recruit talents using crypto token.
Singapore-based Starbase aims to build a blockchain-based platform for global startups to recruit and pay their salary using crypto token. Each individual company that wants to launch its own platform on Starbase will create its own crypto token. Starbase will use blockchain to make this process transparent. Also, the companies on the platform will be also able to crowdfund to raise money.
In fact, 7 out of top 25 crowdfunding projects were funded by token sales. The top crowdfunding project “The DAO” raised 150 million USD from 20,000 people.
“For startups, it’s difficult to fundraise and recruit savvy engineers. By using tokens it’s possible,” Tomoaki Sato, CEO and founder of Starbase says.
Instead of using stock option or salary to attract talents, Starbase will use tokens instead. The tokens, issued by the company wants to incentivize on the platform, can be transferred to any other countries. Tomoaki believes that it will support faster and more transparent transaction.
“In the next five years, individuals will be able to transfer value in a reliable way. This is a disruptive way for banks and governments. Blockchain will have power and our traditional way of value transfer will be decentralized. Then engineers will know better about the financial world, and traditional financial sector will be able to create and transfer value in a decentralized way by using tokens,” Tomoaki says.
The company has seen some early purchases on their tokens already, and aims to raise its first 1.5 million USD strategic investments in China, the biggest market for bitcoin and blockchain. Starbase will be launched this December, according to Tomoaki.
The importance of forming the community
The region might differ, but the blockchain startup founders have long been strong advocates of bitcoin, then they push their love towards bitcoin to blockchain, and started their company. This is true for China-based blockchain company founders, such as VeChain founder Sunny Lu and Qtum founder Patrick Dai.
In Japan, Starbase has just taken off. The founder and CEO Tomoaki Sato started a meetup group for sharing the knowledge of bitcoin and blockchain which later influenced him to start his own blockchain company.
“Japanese people changed their mind toward the blockchain technology. They came to realize that bitcoin is not a dark money, and blockchain is not a dark technology,” Tomoaki says. “Japanese people and government are going to change their mind toward blockchain technology.”
The meetup communtiy in Tokyo called ‘Smart Contract‘ gathered 200 people and got attention big companies such as Microsoft, Sony, IBM, and Docomo as well as global blockchian companies like Bitbank, Hedgy and Nubits. Startups bloomed out of Smart Contract, such as a dating chat application SoulGem, recording an entry of romantic relationships using blockchain.