LABO is an open-source messaging platform from Japan as well as a social network utilizing the power of the Ethereum network. LABO messenger is a user friendly mobile interface for typical smartphone users which provides a means to access Decentralized applications (Dapp) running on top of Ethereum network. The software uses distributed network technology on Ethereum network so that anyone can exchange messages, manage cryptocurrencies, send and receive cryptocurrencies, exchange with fiat, and make payments in a brick and mortar store.
The LABO token in LABO network is a modular utility token for increased activities in the LABO network. With LABO platform and token, users will have total freedom which was unattainable in Web2.0 era. Such freedom translates into an array of things such as governance in LABO client, a curation function as social network, anonymous communication, and settlements.
The Token sale will begin on Monday, January 22, 2018, 15:00PM JST, and end on Tuesday, January 30, 2018, 15:00PM. Purchase will be possible with Ether, the official currency of Ethereum.
Token name : LABO
Total issue volume : 28,000,000 LABO
Base standard ：Ethereum ERC20
55% of total issue volume (15,400,000 LABO) will be on sale.
The rate will be 1LABO ＝0.001ETH
Let’s see some interesting points. Group chat feature will function with issuance of shared group chat ID. All communications within group chat will be encrypted based on shared group chat ID, and a key specific to the group chat will be issued. Even if an outsider eavesdropped into this chat log, decryption is not possible without the specific key owned solely by group administrator. Also, if group administrator had transferred the power to another member, this specific key will be changed. Pre-approval of contact is expected to be used by celebrity figures of respective fields. If contact request was made by someone who you have not contacted in the past, the minimum LABO token required as deposit for new contacts can be set up.
The major flaw in networks until Web 2.0 was ordinary users had no influence on the network as a whole. In order to use the service, he/she were required to accept the terms by the provider unconditionally as a matter of fact. In the LABO network, although a user is required to accept our terms in the beginning, but after that he/she has direct influence over all decisions within the network, including method of software development. Tokens are used for decision making with regard to certain proposals, and as a result the direction of software development will be democratically determined. More specifically, LABO tokens are replicated every time certain decisions are made for creation of tokens pertaining to individual decisions. In LABO app. message encryption function is done using specific information provided by Ethereum network, but for content that require confidentiality, additional encryption are being evaluated currently.
For more information check the website:https://laboproj.io/