PetSource ICO details
Start Date: 2018-7-1
End date: 2018-7-30
- Category: Platform
- Token: PTS
- Platform: Ethereum
- Type: ERC20
- Initial price: 1 PTS = 0.12 USD
- Bonus: 1 Week 25% 2 Week 15% 3 Week 10% 4 Week 5%
- Accepting: ETH
- Soft cap: 3.000.000 USD
- Hard cap: 27.000.000 USD
PetSource – Global Decentralized Pet Registry for the blockchain era
PetSource is a decentralized “pet-centric” data platform built on top of Ethereum blockchain with the aim to manage all kind of information relating to pets’ life.
PetSource is even a global decentralized marketplace based on the Ethereum blockchain and smart contracts for trading pets care products.
PetSource enables secure, fast and transparent exchange and usage of data related to pets’ lives, movements and ownership. It introduces the use of blockchain technology to create a universal database for pets to store several records and maintain a single version of the pet’s true data starting from the ID stored in the transponder chip or written in the tattoo.
With PetSource the identification and registration of pets all over the world will become easier than ever before, making a real traceability of pets possible and creating an easy way to reconnect lost Pets with their owners.
etSource will enable different pets’ healthcare agents such as veterinarians, animal clinics, laboratories, universities, research institutes, pharmacists, pets related industries, insurers and other agents to request permission to access and interact with the PetSource records. Each interaction is auditable, transparent, and secure, and will be recorded as a transaction on the PetSource distributed ledger. The
PetSource network offers furthermore a marketplace where producers of pet’s care products and pet owners will meet and engage, bringing them together for the first time into one crypto-based ecosystem.
As a development project, after the successful launch of PetSource, we will launch the AnimalSource project, that will extend the PetSource platform to livestock animals, for identification, traceability and tracking of animals, for enhancing human security, control disease and improve livestock marketing.
Introduction to Blockchain, Ethereum & Smart Contracts
Blockchain is a decentralized, distributed and immutable database with potential to revolutionize the way various records are being stored. Blockchain is a perfect solution for pet records storage, as the key features would enable transparent, immutable and trusted real-time data source.
Functionality, features and huge community of developers around the Ethereum blockchain suggests it as the most suitable option for the PetSource. Ethereum introduced new opportunities that Bitcoin and like Bitcoin protocol blockchains do not have. Ethereum enables code execution in a decentralized way. This means that utilizing blockchain technology it is possible to do more than just exchange or store value. It is also possible to implement rules, according to which that value can be moved, and specific data modified. Ethereum users do not need to trust any central server and can simply trust blockchain consensus algorithm and output of the system.
Smart Contract is a piece of code which is stored on the blockchain network (in each full node’s database on the network). It defines the conditions on which all parties using the contract agrees and certain actions described in the contract can be executed if required conditions met. As the smart contract is stored on every computer in the network they all must execute it and get to the same result. This way users can be sure that the outcome is correct. Central server and authority can be removed or its impact (e.g. single point of failure) minimized with the help of smart contracts.
PetSource involves the implementation of a decentralized “pet-centric” data platform built on top of Ethereum blockchain with the aim to manage all kind of information relating to pets’ life in a secured, transparent and trusted way.
PetSource will be used to store:
- Pet’s identity information;
- Pet’s ownership;
- Pet Owner’s Contact details;
- Pet’s pedigree;
- Pet’s vaccinations
- Pet’s health information;
- Registration of pet’s presence in a specific location in the world, to facilitate the retrieval of the pet in case of loss;
- PetSource pets’ registry;
- and other relevant information.
PetSource Platform Layers
PetSource platform will consist of the following four layers:
- Ethereum blockchain layer;
- PetSource protocol (smart contracts) layer;
- PetSource services (wallet, data storage etc.) layer;
- PetSource ecosystem layer (third party applications: insurance, research organizations, product manufacturers and distributors, etc.).
PetSource Platform Architecture
The platform shall consist of the following key components:
- Ethereum blockchain – immutable data storage;
- PetSource Data Warehouse – business logic and data processing;
- PetSource Wallet – DAPP – for the pet owner, veterinarian, insurer, wallet service provider;
- PetSource Gateway – a public access to the registry using Chip ID;
- PetSource Marketplace – DAPP (to be introduced in later development phase).
PetSource Data Storage Model
Data will be divided into two types, public and private:
- Public data, such as: Pet Chip Number, Pet Breed, Pet Color, Pet Name, Pet DoB, Pet owner’s Name;
- Private data, such as: Pet Owner’s details, Pet owner’s Emergency Contact Information, Pet’s health medical records, travel history, etc.
Public data will be stored directly on the Ethereum blockchain and shall be accessible by anyone knowing the Pet Chip number.
Private data will be stored in the PetSource private database or user device.
The hash of data will be stored on the blockchain, therefore every time the data is received by a third party there will always be a possibility to check its fingerprint (hash record) and thus verify its authenticity.
PetSource Data Verification Process
Once the pet owner’s data is submitted via PetSource wallet it is instantly transferred and stored to Ethereum blockchain. However, public data must be verified by PetSource platform representative(s) to avoid fake data entries.
Private data will be verified by PetSource platform veterinarians and marked as valid data. For the verification process separate smart contract is created where pet owner transfers X amount of PTS tokens as a fee for the verification.
Once the pet owner visits the veterinary, the vet can verify the data by creating its hash and send it to the smart contract. The exchange of hash (for the pet owner) and PTS tokens (for the vet) will happen automatically and the user data shall be verified.
PetSource Data Access Process
Similarly, when a pet’s data is requested, the Chip number on the blockchain is used to access the public data. If a private data is requested, the data is retrieved using PetSource API and verified against the hash in blockchain for authenticity.
Pet’s owner will be notified every time data is added or accessed.
Moreover, the users will be able to grant or revoke access on multiple levels of their data using the PetSource Wallet.
PetSource Gas cost
At the beginning, Pet Owners will be rewarded with PTS tokens for storing the data in PetSource Platform and gas cost will be subsidized by PetSource. Later on, the PTS tokens reward will be removed and once the platform is working at the expected scale, gas cost shall be paid by the Pet Owner.
PetSource allow pets’ owners to create or update their pets’ basic information using the PetSource web app or a mobile app.
Information for breeders
PetSource can be used by breeders for recording pedigree and other important information the genealogy of the pet.
PetSource can be used for providing critical health information the pet in case of the need of emergency services.
PetSource data can be provided by owners to Universities and Institutes for research purposes.
PetSource can provide the necessary data requested by countries for international travels with pets such as pet’s identity, pet’s ownership, contact details of pet’s owners, pet’s vaccinations etc.
Veterinarians and other professionals will record their actions on PetSource, including what they are doing and how long they are doing it for. In the case that drugs are being prescribed or used in a procedure, a veterinarian can quickly check what drugs the pet is currently prescribed and identify any potential allergies or conflicts.
PetSource can be used to retrieve owners emergency contact information when a Pet is found, in any country in the world.