Jolyy - The Latest Blockchain Based Beauty Platform

Introduction

The beauty market in Europe is generating revenues of over 100 billion EUR per year. While many other businesses are totally digitalised, this sector is still in the 20th century and most entrepreneurs are using telephone, pen and paper when organising their schedules with clients. The inefficiencies this brings are already generating losses.

JOLYY was founded in 2016 with the idea to implement and improve the business models for online beauty booking across Europe. In the very beginning, we understood that the existing platforms are imposing 20% commission for each reservation. This was an unrealistically high commission which couldn’t be rationalised. Our ambitious team decided that we can cut a large chunk of the expenses. While developing the project, we encountered many shortcomings — some we’ve managed to improve, others are still on the road. Our search for solutions led us to the decision to use blockchain technology, allowing us to realise the idea for online beauty booking platform on a global level.

JOLYY is proposing a smart solution that will digitalise the business and is more effective than any existing solution. We have already gained popularity on the local market with the first version of the platform. The team is now focused on upgrading the platform to a next generation and we believe this will provide all stakeholders in the beauty industrywith totally new experience and will place our product as number one booking platform for beauty services.

Currently, the leading providers on the market are imposing excessive commissions for the beauty salons, while at the same time they provide an inefficient product, which is not adapted for the services it claims to offer. Treatwell is the competitor in Europe and its business model is to find new clients, rather than providing platform for online beauty booking. Their model is not sustainable and this further proved by the fact that few industry representatives are using their platform. The high commissions and delayed payments (sometimes with a month), are another reason for the reluctance of the beauty experts to use the existing platforms.

JOLYY will solve this

The blockchain technology of JOLYY will allow all transactions and payments to be made in minutes, free of charge for both parties. Moreover, our solution will provide much more favourable conditions to the beauty experts that are using the platform. This cost effective model is our guarantee that we will manage to attract the beauty industry as it translates directly to more money in its pocket.

The future with JOLYY blockchain Beauty & Booking Platform

Our proposition will provide the following opportunities:

• Development of the world’s first beauty platform using blockchain technology
• Decrease of commission to a symbolic percentage and even its full removal We will propose a 2% commission for each reservation only after the ecosystem is fully developed. It will be free of charge until then
• Stimulating the commitment of the clients through the developed bonus system using the name of the coin
• Popularising the crypto currency among female population
• Digitalising the beauty booking market though software based blockchain technology
• Faster transactions and lower transaction costs.
• Beauty social network
• JOLYY Store — marketplace for beauty products

Possible threats

• Changes in government policy. Some government rules and regulations might influence the business.
• A growing market creates opportunities for new competition and market saturation.
• Cyber security concerns that need to be addressed before the general public entrust their personal data to a blockchain solution.
• Time needed to train users and vendors.
• The negotiations with the leading cosmetic brands will be possible after raising the popularity of the platform.

Roadmap

1. October 2016 — JOLYY founded
2. March 2017 — JOLYY web app beta launch
3. April 2017 — JOLYY mobile app launch
4. June 2017 — Main version release
5. Q4 2017 — JOY ICO and listing tokens on exchanges
6. Q1 2018 — Release of JOLYY 2G Beta with integrated JOY web app and scaling in foreign markets
7. Q2 2018 –JOLYY 2G Main version with integrated JOY web app + JOY mobile app launch
8. Q3 2018 — JOLYY Store and JOLYY live — Social platform

JOLYY (JOY) Token

JOY usage

1. JOYs will be used as a payment method in the platform and in the JOLYY Store

Customers can get JOLYY in the following ways:

• buy it from a cryptocurrency stock exchange
• buy it from the JOLYY platform
• buy an offline or online gift certificate
• earn JOY by giving ratings and making comments for salons or by other games and promotions on the platform
• earn by booking appointments through the platform. Statistics will be generated for every user regarding their bookings, etc., where there will be monthly winners, etc.

2. JOY — as a payment transfer method.

When booking an appointment, customers will be able to choose between wallet payment and debit or credit card payment. In both cases, payment will not be performed upon booking. Instead, a smart contract will be concluded and later activated at the time of the appointment. The application will remind the professional for the payment. After the professional requires the payment, the customer will confirm it from his or her application. Once the request is confirmed, transfer will be performed within minutes. Implementation will be fully automatic for the following activities:

• The consumer buys (automatically from JOLYY) the JOY corresponding to the price at the current exchange rate and sends them to the professional peer-to-peer. Upon receiving the JOY, the professional can set them to automatically convert to the respective currency or remain in their wallet as JOY. Neither the customer nor the professional need to know they are using a cryptocurrency. The professional will have a plastic card issuedconnected to their wallet. If they wish so, they can immediately withdraw their money in cash at an ATM.

3. Bounty and awards for users when using and contributing for the development of

the platform

Users will be able to make money by adding salons in the platform. The project will have JOY allocated for this in advance. Anyone who wants to obtain funds in this way will be able to suggest salons to join our platform. Upon registration, salons will enter a code provided by the respective person. This way, his or her profile will get connected to the outlet. A smart contract will be generated, through which the person will automatically receive a certain amount of JOY upon reaching the salon’s milestones: 10 bookings, 100 bookings, 10 comments, etc. This will allow students, etc. to make money in their spare time by helping the platform grow.

4. JOLYY STORE — a store only available to outlets on the website. 

Cosmetic producers will be able to market their professional products there at salon prices. The idea behind this is that producers will gain direct access to a channel that ensures communication with end consumers of their product lines. Thus, even a small producer will be able to easily present their products to the precis audience they want to reachglobally. The alternative would be a global advertising campaign, which is most often impossible. JOY will be implemented through smart contracts. Payments will be executable directly in JOY, as well as in other currencies. However, parties will be able to conclude smart contracts based on which payments can be broken down to daily fees or be fully automated. Therefore, once having concluded a supply contract with the respective producer, salons will neither need to pay the supplier in cash nor make bank transfers. Instead, the required amount will be transferred from their wallet at the desired interval. All this will be controlled by smart contracts. It will all happen in the same way as in Item 2 — peer-to-peer.

5. Advertisers will be able to pay in JOY at JOLYY.com at a fixed rate (explained below)

Value proposition for JOY holders

The value of JOY will depend on 2 main factors:

1. The development of the overall ecosystem of demand and supply. The more JOY is used, the more it will be demanded, and, logically, its price will rise.
2. Visits to our website. Fixed price of advertisement on the platform website for JOY owners. JOLYY implement a fixed price of our website’s advertising space:

1 JOY = 50 pixels on desktop per full day displaying without limitation of impressions or

1 JOY =10 pixel on mobile per full day displaying without limitation of impressions

All JOY tokens used for advertising payments will be burned

Reduced supply of JOY will not impede the functioning of the overall ecosystem, as JOY is divisible to eight decimal places.

JOY Allocation (Total of 30,000,000 JOY)

60% will be available for sale to the public — a total of 18,000,000 JOY for the amount of 500,000 USD. All unsold tokens will be burned.

20% will be reserved for the Rewards pool (Those will be used to reward people helping the platform develop — by adding more vendors, writing reviews of vendors, etc.) — a total of 6,000,000

10% will go to the JOLYY team and advisors — a total of 3,000,000

10% will be left for bounties

Dollar price — 1 JOY = USD 0.02777778

Budget Allocation

JOLYY will distribute the investment in a way to guarantee the best performance of the allocated tasks.

Software development: 60% of the budget will be allocated for development of the new JOLYY blockchain based platform and the inherent mobile apps for vendors and end users

Marketing: 20% of the budget will go for gaining brand awareness to the JOLYY platform and attracting new customers and vendors

Business development: 10% will be invested in training vendors to work with the platform and gain traction.

Legal and administration: 5% will be allocated for developing a solid legal framework for the JOLYY platform.

Unforeseen costs 5%

Detail  Information Link :

Website : http://www.jolyy.com/ 

Whitepaper : http://www.jolyy.com/whitepaper/jolyy_whitepaper.pdf
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