MONTREAL, Sept. 09, 2021 (GLOBE NEWSWIRE) -- TimeDAO officially announces the pre-seed funding round for its platform powering decentralized applications based on time-locking, a technology enabling new types of applications like time-locked wallets and time capsules.
Today's digital time capsules involve a major flaw; they are hosted by companies on centralized servers. If the servers get hacked, the capsule information is stolen, and if the business fails, the time capsule is lost. Not to mention these corporations have access to users' capsule's content the same way Facebook has access to users' conversations.
TimeDAO ensures the longevity of its time capsule service by automating all the processes using smart contracts. TimeDAO's components are decentralized, increasing security and privacy for its users. TimeDAO is built to last. When facing technological challenges, the DAO will govern system upgrades through proposals to the DAO stakeholders. Based on their $TDAO token holdings, these stakeholders will vote for the option deemed optimal to keep the service running.
Along with the platform, the team behind TimeDAO is developing two applications, the first TimeApps: the TimeCapsule and the TimeWallet. TimeCapsule enables its users to send information into the future. These capsules can contain all types of digital files, including images, text, video, audio files, and more. They allow you to send messages to friends and family in advance of special dates to remember. It gives the ability for people to send messages after their passing and can be life-changing for victims of memory loss. It also can be a special way to celebrate a marriage and its anniversaries.
TimeWallet, the second TimeApp, functions like a crypto saving app. It lets users send cryptocurrency into the future for themselves or their relatives. Although the TimeWallet prevents users from withdrawing funds until the opening, it's possible to add more funds into it anytime. Some usages include protecting cryptocurrency from market-driven emotional mistakes, handing over crypto inheritances and building a crypto savings account.
The TimeDAO team considers time capsules to be more than sci-fi gadgets and believes they have the potential to become an integral part of everyone's daily lives when popularized. They plan to integrate TimeApps into physical objects using NFC technology and distribute them in retail stores worldwide by Q4 2022.
Last week, TimeDAO confirmed its pre-seed sale for Sept. 24. This sale is the first of four funding rounds, totaling a hard cap of $2.5M. TimeDAO will grant access to participate in the exclusive pre-seed sale of its $TDAO token at an advantageous rate for the first 195 email sign-ups via their website. First come, first served. For more information, visit https://timedao.org.
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