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Today, Cryptocurrency industry has created $230 billion global markets for millions of enthusiasts and participants around the world. Despite the large market size and participants involved, cryptocurrency market is often categorized as ‘difficult to evaluate or understand’ and has not realized its full potential due to its legal uncertainties in number of countries and questions raised around underlying business value. Through basing its value on innovative patents, SR Project is proposing ‘intellectual property based token’ to the cryptocurrency industry.
SR Project (Symbol: SRCOIN; Crypto Exchanges: CoinBene, HotBit, Coinis, and Bitnaru) is a health data project that builds blockchain powered health database collecting and sharing platform for luxury massage chairs. In September 2018, SR Project has applied for the global patent in the US and other countries around the world. By introducing a business model backed by a global patent that has qualitative legal status as well as quantitative financial value, SR Project distinguishes itself from other blockchain projects with no clear business model and positions itself as a key player in the multi-billion dollar luxury massage chair and health data industries. There are approximately 6,000 massage chairs models from over 500 massage chair manufacturers worldwide, and the market size is expected to exceed $2.5 billion in 2018 with an annualized growth rate of 6%.
Most massage chairs on the market today only provide limited pre-set movement combination. Unlike its competitors, SR Project’s massage chair will provide human-like massage customized to individuals’ body shape and focus on the uncomfortable parts of the body. SR patents include 1) an advanced A.I. system that defines the process in which massage chair gathers numerous biometric data and use this collected information to customize and personalize massage sessions for each user, 2) blockchained health databases leveraging a large amount of health data collected from all massage chairs under SR patent worldwide, and 3) a database distribution system that provides immense amount of health data collected from the massage chairs to various medical institutions, government agencies, insurance companies, and pharmaceutical companies for medical research and advancement.
With the patent, SR Project will not only build its own luxury massage chairs but also help other manufacturers build these next-generation massage chairs leveraging the same technology. In practice, other massage chair manufacturers will need patent license agreements with SR Project, under which, manufacturers are required to pay the license fee in SRCOIN tokens and use SR’s platform to transmit and collect biometric data from the massage chairs. With $5,000 as an average selling price of a luxury massage chair, SR Project is expected to generate $300 million of license revenue annually and a gross revenue of $7.5 billion over next 25 years during its patent life.
In the uncertain cryptocurrency world, SR Project’s new intellectual property based business model demonstrates a unique solution to solve uncertainties that cryptocurrency industry. It is exciting to see projects like SR Project that finds a creative solution in the ever-evolving cryptocurrency industry.
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