Crypto Company Is Reinventing the Internet

Web3 led to increased distributed and decentralized apps where there will be no single point of failure and no central authority

By
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Web3 helps individuals own and operate their personal Internet. Instead of companies, people currently have decentralized autonomous organizations that work between creators and consumers, which are defined by rules and assets owned by them rather than companies. This breaks the shackles of first-party data, but time will determine if this is the beginning of a truly data-driven enterprise. Nonetheless, Web3 accelerated the rise of influencer/creator-led economies owing to the challenges of Web2.

Handout

Web3 led to increased distributed and decentralized apps (Dapps) where there will be no single point of failure and no central authority. The apps are transparent, have a greater level of encryption, better exploratory techniques to secure, and are completely trustless. Web3 is still progressing. Most Dapps work on on-chain and off-chain concepts to address potential, and the throughput of transactions is in progress. Also, ownership of assets is still not completely on blockchain.

Tomi is a decentralized cloud services firm/project that develops a Web3-based disrupting technology and brings new technological solutions that will be the basis for a decentralized Internet. The decentralized Internet concept is a profitable operation that many companies failed to develop. Tomi is introducing a totally new approach relying on hardware solutions, software development, and an elaborate system of incentives.

Tomi's system embraces some innovative uses of existing technology, e.g., they developed a concept of active NFT (aNFT). They take NFT technology used mostly for art ownership registration and enable their NFT owners to generate income from their NFT, making their NFT active as it works for its owner. Additionally, their server computer acts as an asset for its owner while generating a steady income.

When asked how the company outshines its competitors, the CEO said, "We are also special, that unlike other technological/crypto/Web3 projects, our business model relies on physical asset – data servers able to provide cloud services and mine crypto, so we are not an entirely digital project, but also have a strong physical aspect to our business."

Even though the project was established about six months ago, Tomi has already made some significant achievements, including initial sales of over $1 million on their presale, development of an operating prototype model of the first generation of their server computer, the MP-1, and opening offices in Tel Aviv and New York. The Tomi team signed an MOU with a renowned public company, Hyper Global, to develop their server computers for the next generation. Tomi's team held progressive discussions with noteworthy exchanges (top 10 globally) on listing their token for trade or receiving investments. They have built a beta multi-chain digital wallet and completed test transactions on it.

Like any other startup company, the Tomi team has faced some challenges. "I think our main challenge is to build an ecosystem that will incentivize all relevant participants and create a truly decentralized project. This means that at some point, the project will be out of our control and become controlled by the public," Tomi's CEO says. Nevertheless, he encourages us to think big and never be afraid of innovative ideas or trying to overthrow giant tech companies.

The decentralized cloud services project aspires to become a global name in the future. Tomi's team also hopes that the public and developers will adopt their technology and develop applications.

Note: Investment in cryptocurrency and crypto assets is subject to financial risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.