27 Feb 2019 #Ethereum
Yellow Better (YB) is a blockchain-based social portal developed by a team of crypto enthusiasts from Poland. The primary purpose of this platform is to help people acquire a better knowledge of foreign languages through direct communications with native speakers through the mobile decentralized application of the same name. Yellow Better also introduces its native token called YBT which is the basic mean of payment for linguistic services provided via the platform. The price of one YTB at the pre-ICO stage was assessed at 0.01 EUR.
Yellow Better is directly associated with another crypto project called BetterPay, which is a cryptocurrency exchange designed specifically for handling payments that take place on the YB platform. The project’s whitepaper clearly indicates that 20% of all YTB tokens and 5% of all money raised during the ICO will be invested in the development of BetterPay. This info may suggest that Yellow Better might be only a transition project while the developers’ main point of interest lies with the crypto exchange. Nevertheless, Yellow Better definitely provides both social and educational value to the blockchain community which makes it worthy of investor’s attention.
Yellow Better offers a slightly innovative approach to learning foreign languages. This approach presumes that the Yellow Better members would benefit more from having direct and informal conversations with a native speaker of a given language than from grinding at grammar and committing dozens of words to memory, which oftentimes are far from being contextually relevant.
The idea will be implemented in practice through the dApp which had been developed on the Ethereum blockchain thus making YBT compliant with the ERC-20 standard. The platform will feature two types of users: the students and the tutors. The project’s whitepaper doesn’t contain any specific information about whether or not the tutor should have an academic background in linguistics. Apparently, being a native speaker of a particular language and having an extensive knowledge of country’s cultural and social peculiarities would suffice to qualify as a tutor on Yellow Better. However, the students would have the option to choose the tutor with a degree.
Yellow Better also has a distinguishing feature which constitutes in the fact that the service allows users to choose the teachers with regard to the following characteristics:
This brings us to the point that concerns the revenue and remuneration models used on Yellow Better. The platform will be making profits by imposing a moderate fee for each transaction and by running sponsored advertising and marketing campaigns. Also, the YB team will be implementing the SAS (subscription) and prepaid (students purchase the lessons in advance) models. The platform would strongly rely on social media influencers to ensure the additional recognizability of the Yellow Better brand. All payments will be carried out through the BetterPay crypto exchange where users will be allowed to change YBT to fiat money or other cryptocurrencies.
Yellow Better doesn’t make any attempts to conceal the fact that they will focus heavily on the promotion. According to the whitepaper, 58% of funds acquired through ICO will be allocated for the global marketing campaign whilst only 30% will be spent on platform development.
The presale stage ended last summer, and now Yellow Better is doing the private token sale, which will end on February 28, 2019.
Right now, YBT are sold at a price of 0.02 EUR a piece. The minimum investment is established at 50 EUR.
Yellow Better offers bonus and bounty programs. Citizens of USA, Canada, China, and Singapore are not allowed to participate in the private sale.
The ICO review platforms gave Yellow Better mostly favorable reviews.
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