OPU: THE SKINCARE TOKENIZATION
In 2015, the global skincare products industry was valued at about $116 billion. The market, being driven by high demands for skincare products with much emphasis on personal health, is expected to grow, in worth, to about $160 billion by 2022 (14% annual growth) because of the increased rise in incomes in developing nations.
Skincare products have seen colossal evolutionary growth over the years and there’s no sign of a slowdown or retrogress. What is being witnessed here is a marketplace that swells as patrons become more and more cognizant and are informed.
With the seemingly exponential increase being envisaged in this market and the invasion of natural and organic products from businesses around the world, consumers and investors alike will hope to get worth for their money in the truly unique product.
Shoppers are always enthusiastic about that next best product that will enhance their beauty and boost their egos. They are looking for that personalized product that is believed to be made especially for their skin condition. Regardless of where it is made, they will be willing to pay the price for its delivery to their doorsteps. Unfortunately, some end up being disappointed as the result they got was what they anticipated.
In a disjointed market, overseen by countless regulatory bodies, with a cumulative amount of information but pitiable methods to authenticate proficiency, it has become a very big challenge separating proficient trustworthiness from friendly advice. And notwithstanding the anticipated market size, a much needed worldwide skincare supervisory solution provider is yet to emerge.
AI & BLOCKCHAIN SYNCHRONICITY
Consumers nowadays are considering skincare solutions that replicate a healthy way of life; they want to be sure that the products they are considering are good in every sense of the term. The skincare market is in need of a highly accessible service that can help consumers recognize their skin conditions and, without preference, promptly link them with effective and inexpensive products and services.
Because we live in a world of progressive connectivity, where consumers of all sizes and ages are constantly searching the web for solutions to their skincare desires, individual biometrics and skincare services are possible through technology.
Safeguarding the future of the global skincare industry and facilitating it commendably is the brain behind Opu project. The Opu platform is based on four key features (AI & Big Data, Scanning Technology, e-commerce, and Community) with which they hope to measure, organize and monitor skincare products, making them the foremost digital solutions provider for the skincare products industry.
They are continually committed to refining the way the skincare industry exchange statistics and payments to benefit consumers and companies which is done via the combination of blockchain and e-commerce technologies. Sustaining it all is a virtue-based motivations system that rewards information and insights contributors with an Ethereum-backed crypto coin. The Opu Coin loyalty scheme, using the Ethereum blockchain, is launched to ensure that all skincare information collected is securely stored and shared only amongst complying parties who opt-in and agree to work with the wider technology stack