Loomia ICO Review

Clothes could save your life, shoes can warm up and your bag can light up. All this and more by one of the most promising new start-up that will use seamless technology in a way of integrating data collecting devices within fabrics and blockchain application.

Loomia promises your stylish boots can detect when its cold and warm up. Take the classic case of fiddling within your purse to get something, say no more, Loomia can make your purse light up. With fabric embedded technology, also comes an opportunity for individuals, if they choose, to sell data collected during times of emergencies to researchers who require this kind of authentic information.

A 3-year-old Brooklyn-based startup , Loomia’s innovation is based on electrical components embedded within a fabric. These electrical components are touch-sensitive and can heat up and emit light. They call this the Loomia Electronic Layer. Loomia is not a fashion company, which they are keen to get across. Through partnering with other companies, Loomia aims to incorporate its data gathering and transmitting fabrics into products like jackets and shoes, and they are yet to hit the market. Electronic Layer is ROHS-compliant, washable, and can support heating, sensing and lighting applications.

A few examples of this product application are :
*Power transmission for heating or haptic feedback garments

• LED applications for high visibility garments
• Data transmission for biometric garments

HOW IT WORKS AKA LOOMIA’S THREE LEVEL SYSTEM:

Firstly, The Loomia Electronic Layer (LEL) is a soft flexible and durable circuitry embedded within fabrics, that can heat, light, sensing functions and gather data.

Second comes the Loomia TILE , a hardware device that acts as sort of data storage unit of all the LELs. The data stored can be accessed only through fingerprint and after syncing it to the Tile platform.

Third and final is the Loomia Data Exchange. It is an online data exchange where users can choose to sell their data to market researchers. The data shared will be anonymous thereby protecting the privacy of the user, but authentic data is obtained. Users will receive payment in Loomias Tile token which can be converted into other digital currencies.

RIGHT TO DATA
As mentioned earlier, one of the applications of Loomias product is gathering biometric data. Personal data has become the one of the most important commodities in the world and should the user choose it, Loomia gives the opportunity the right to own their personal data, along with the freedom to choose how to share or sell it.

TOKEN AND ICO
The Tile token will enable customers to profit off their clothes by selling the data collected via the sensors then collect rewards that are redeemable on the blockchain. Token Sale is set to be open early in 2018.

Token : TILE
Price 1 TILE : 0.05 USD
Platform : Ethereum
Accepting : ETH, BTC, Fiat
Hard cap : 30000000 USD
Country : USA

ONE OF THE FEW PROMISING ICOS..
This project promises to deliver, and has the potential to make it big. More and more market researchers support the LOOMIA TILE’s concept.

It is important to note here the Loomia TILE technology, and the endless opportunity it provides in today's world of data, data and data. This technology can associate an individual’s physical identity, contained in data collected from their day to day habits, to their digital identity, contained in online profiles, which we can see, will be a starting point for a wide range of third party integrations.

For more information ,visit

Website : https://loomia.com/
Whitepaper Link: https://github.com/LOOMIA/loomia/blob/master/LOOMIA_whitepaper.pdf
Ann Thread: https://bitcointalk.org/index.php?topic=2343085.0

Written by: Pooja Jur
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1217469