Irvine, CA and Melbourne, Australia – The not for profit NEM.io Foundation and Digital2Go Media Networks, Inc. (D2GO) today announced that D2GO has successfully raised 1.8 million XEM, equivalent to $1 million USD, through the NEM blockchain community fund.
The funds raised will be used to integrate D2GO’s LocationCore™ platform on the NEM blockchain, making it the first location-based platform to utilize the technology.
LocationCore™ is an existing product of D2GO that provides consumers’ mobile data and anonymous location information to businesses for engagement and marketing purposes. A number of businesses are already using the platform, including Incipio, AdParlor, Alamo Rental Car, and RCI (a division of Wyndham Resorts).
Using the NEM blockchain technology, LocationCore™ will provide businesses the ability to record location-based impressions and securely compensate mobile app publishers and mobile device users for sharing their mobile data and anonymous location information.
Dan Voyce, CTO of D2Go, said: “Billions of users are currently sharing their location data as well as other personal information every day without any form of monetary compensation. The type of data collected is often not fully understood to the mobile device user yet provides significant revenue to the companies that collect and sell this data. The NEM blockchain infrastructure will enable D2GO to bring this to life for both businesses and their customers.”
In choosing NEM as the blockchain technology, Voyce added: “To be successful, our chosen blockchain requires usability, security features, high performance and future scalability. We chose to use the NEM blockchain for its simple yet very powerful technology that will enable us to quickly create our location based ‘smart assets’ using the API offered by NEM. The vast capabilities of the NEM blockchain, coupled with the impressive development team, made this an easy decision for us.”
Jeff McDonald, Vice President, NEM.io Foundation said: “We are thrilled to see this marrying of the big data industry with blockchain technology as D2GO develops its LocationCore™ platform, as a real world uses case on contextual location services. This will further prove the versatility, performance, and scalability of our technology. We look forward to supporting the D2GO team in this endeavour and can’t wait to see the product in the market using NEM technology.”
The 300 million XEM (equivalent to $130M USD) community fund is an initiative by NEM.io Foundation to promote development on the NEM blockchain. The fund is decided through community voting, with people posting the concept for their start-up or business on NEM community forums, which are then voted on by users. Successful companies are then presented to the NEM.io Foundation, which carries out due diligence before issuing the funding.
About Digital2Go Media Networks, Inc.:
Digital2Go (D2GO) is a consumer engagement and marketing intelligence company focused on redefining mobile engagement. The D2GO dMosaic™ platform provides advanced audience segment targeting, combined with powerful data collection capabilities to enhance brand value through targeted mobile device engagement. It’s revolutionary LocationCore™ technology, built upon the NEM blockchain, effectively democratizes the use of consumer mobile data and puts the power back in the hands of the mobile consumer. Headquartered in Irvine, California, with offices in Melbourne, AU, and Mexico City, Mexico, the company has deployed its solutions to over 10,000 locations in the US and Latin America.
For more information, please visit www.digital2go.com
Press inquiries for Digital2Go: [email protected]
About NEM.io Foundation:
NEM.io Foundation Ltd. is a non-profit organization based in Singapore, set up to promote NEM’s blockchain technology globally. It is currently one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry. NEM’s technology is currently being utilized in a variety of financial institutions and industries.
For more information, please visit: www.nem.io
Press contact NEM.io Foundation: Alexandra Tinsman, [email protected]