Hydro Token and its Platform in a nutshell.
Legal disclaimer: I am not a financial advisor. The information I provided cannot be treated as a financial or security advice even though my excitement might make it look like such.
It is a fact that, for many investors, cryptocurrencies have seen better days and there are so many thirsty crypto fanatics that are waiting praying and wishing for a ,,next big thing” coming faster.
The current bear market and the lack of relevant advancements within the blockchain industry in the past months have cooled down all the hype one felt at the end of 2017. However, things might change for you until the end of this article. I would like to introduce you to the Hydrogen Platform.
With a very suggestive name, Hydrogen wants to become “the one and only platform you will need to create fintech life”, just like its homonymous element to create life. With less than one year of existence, this group of dedicated developers has already made a name for themselves and have been widely awarded, more specifically being nominated the Fintech Startup of the Year by the FinTech Awards Luxembourg 2018.
“Our company mission is simple: Create a worldwide ecosystem for better, simpler, fairer, more transparent, and more affordable financial products. Hydrogen will create a new digital economy that will uplift and empower an emergent middle class, bringing fintech to the masses.”
Mike Kane, Co-Founder & CEO
A clear yet powerful statement from the CEO that seems to be aligned with the culture and marketing strategy of the organization.
First of all, they are very community-focused and that is visible with the fact that they built this community with air-drops and never had any fundraising activity whatsoever. Second, they never paid to get listed in any exchange which shows their commitment to be recognized for their good work. Finally, they thrive for transparency – the developer’s profiles are public on their website and every now and then, they invite community members to their offices.
But let’s move on to explain what is this project about and what makes it so special.
Hydro is a decentralized ecosystem for financial services that has in its main attribute the fact that it can be integrated into already existing financial applications to give them the security and transparency that made blockchain so famous. To accomplish such accolade, the team proposes 5 different sub-products:
- Snowflake – The Identity Protocol that will boost the digital identity use for individuals in a decentralized and safe way;
- Ice – It aims to solve big financial problems with a decentralized document management system;
- Raindrop – This was the flag product that the company launched upon creation and it is basically the first 2-Factor Authentication method on the blockchain;
- Tide – Hydrogen’s solution for payments that is still under development;
- Mist – To prove the commitment to technology, the organization is also gathering efforts in developing solutions in the AI field.
Hydrogen’s reach goes beyond the improvement of existing systems as they developed an API platform that allows users to build their own products in a matter of minutes. Atom’s platform APIs are divided into:
- Nucleus: Ranging from Authentication to Performance Analysis and even Questionnaire building, these APIs will provide your application with the core utilities you will need.
- Proton: Risk Scoring, Simulations and Financial Calculators are among the options that you will also enjoy to power your product.
- Eletron: In a more customer-centered approach, the Atom ecosystem will also give you the opportunity to incorporate Support, Marketing and Documents in your solution.
“Alone we can do so little; together we can do so much”. Helen Keller could have not said it better when it comes to the synergies one can gain with the collaboration of other people having in mind the same purpose. Partnerships for Hydrogen are a very important and exciting subject – they proposed to find 30 partners in 30 days last August and accomplished it with honor.
This is the most recent and the most exciting partnership for the Hydrogen Platform. This project aims to be a decentralized oracle provider for blockchains, whether it is the Ethereum, Bitcoin or Hyperledger one. In simple terms, it provides the ability to make the connection between digital ledgers or smart-contracts and real-life data, events and payments.
This partnership is even more powerful if we look at Chainlink’s partners: SWIFT, Gartner, Cornell and World Economic Forum outside of the blockchain world and ZepelinOS, OmiseGO, CIVIC, Augur and many other on the “digital world”.
This partnership can translate into Hydrogen being able to provide it’s security and transparency services to millions of people, more precisely, allowing them to act on smart contracts through the 2FA method they developed. I think it’s to not forget to mention
- CI Investments
Since 1965 operating in the wealth and asset management industry, CI Investments became one of Canada’s largest institutions with a user-base of over 2 million people and more than 180 Billion dollars in assets under management.
- Principal Insurance
World top 10 insurance company is implementing Hydrogen platform’s products and will be staking the HYDRO token. 22m customers and $675bn revenue all protected by Hydrogen.
- TD Bank
TD Bank is one of the old-school partners of Hydrogen that makes us remember that they are not fooling around when choosing partners. Currently, this financial institution is aiming to launch a couple of “robot-guidance” products, which can be used either to make recommendations based on risk-tolerance and timeline, but also can be used to create sophisticated portfolios in terms of risk optimization.
The European “elite club” of fintech companies invited Hydrogen to become part of it and collaborate or discuss the future of this industry with giants like AXA, ING, BNP and Mastercard.
For such a young company, the ambition can sometimes be overwhelming, but in this case, it seems to be more of a mindset. The willingness to surpass Google’s 2FA with Raindrop is just an example of something that can seem “too far” at the moment but then again, without aiming high you will always stay low.
The word that seems to fit better on this project is easiness. It is not only easy for their partners to integrate Hydro dApps but also it seems that everyone’s life will become easier once this company’s services are widespread across the fintech world.
With a market cap of “only” 10 million dollars, the Hydro token seems to still be far from the spotlight, which if we consider all the facts shown above, can only mean that it is definitely an underrated project ready to join the A-League when status of low-cap gem will become obsolete.
Whether or not it will be the next token to skyrocket I cannot tell you, but that it is on the right path to success, it is beyond doubt!