We take a look at NHZ’s audacious plans…
About three weeks ago, I introduced one of my favorite new players in the asset exchange game, NHZ. Technically an NXT clone, I have been anxious to see what plans they had to differentiate themselves from the pack. Not having the potentially unfair distribution problems of NXT is all well and good but we’d like to see some innovation too, of course.
That said the exceedingly robust development plan laid out by lead developer Jon Teets looks like my kind of crazy (crazy ambitious being my favorite flavor of madness). Special thanks to managing director Nick Cote for providing the info:
1.) UI / User experience & functionality update: A complete re-work of the layout and user functionality of the ‘NHZ’ asset-exchange and wallet, with the goal in mind to provide a professional & user friendly interface.
What anyone working in this space will tell you is that while most of our back end tech looks amazing, very few (if any) have interfaces that one would describe as pleasing. To the practical minded, function matters more than form but to the vast majority of users… looks are everything. So I’ll be excited to see how NHZ dresses up the UI.
2.) Integrated reputation / trust systems into the NHZ platform: Provide security and trust between the asset issuers and the public.
This is huge, huge, huge. A user reputation methodology, even something as silly as a star ranking system (just look how good it works for Yelp) would do wonders for operating on any exchange. Think of it as a credit score everyone can see. In the past we knew who to trust because our tribes were small but with population size what it is, we need effective tools for developing trust.
3.) ‘NHZ.info’ project: Intended to provide a ‘NHZ’ FAQ for prospective clients, and to provide a user-friendly search option and profile system for all listed assets.
An obvious choice but an added feature that is not to be underestimated in terms of overall strategic value. Make no mistake people, this stuff is quite confusing to John Q. Public. The only way they will ever use it, is if we help them understand how.
4.) Website / Forum / Faucet / Branding update: Provide a functional faucet for distribution of ‘NHZ’ and to create a professional interface for the community and prospective clients. This is intended to be the gateway for users and businesses into ‘NHZ’.
Because who doesn’t want free tokens? Distribution is what makes or breaks this kind of grand experiment.
5.) Mobile wallets for Android and iOS based systems: Develop mobile wallets for ‘NHZ’ users with a focus on providing a clean and simple UI and user experience.
With mobile platforms now the leading channel through which most consume information, it stands to reason any serious platform would be developing with mobile in mind from day one.
6.) ‘Darksend’ project: Optional anonymous transactions between users. More details will be made available in future press releases.
Always a community favorite. In Blockchain 2.0 if you are not taking anonymity serious, very few people will take you seriously either.
7.) Digital goods store: Provide users a decentralized platform to buy and sell digital and physical goods and accept ‘NHZ ‘coins as payment.
Wonderful idea. In the future unforgeable digital goods will be seen as any other kind of collector’s item except these goods will be far more fungible than their real world counterparts. (This is part of the reason the team and I at Pacific Blockchain launched Hawaiis first bitcoin dispenser in a coin shop).
8.) Encrypted messaging: Enable users to send encrypted messages within the ‘NHZ’ wallet.
Another fan favorite. If you like your privacy, you like this feature. I’m of the mind that privacy is an essential human right but always keep in mind that you don’t have to encrypt everything. It’s just nice to have the option if you are, for example, discussing business ideas over the network with potential partners. Always a concern these days, wouldn’t you agree?
9.) Minor functionality bug fixes / security patches: Fixes / patches that addressed flaws in NXT functionality and security issues.
This will make the more technically savvy among you happy. As wonderful a platform as NXT has proven to be, it’s not perfect. So any port of it would naturally have its flaws as well. If the development team can iron these out then they will have taken a step (however small) towards improving on NXT’s vision.
10.) Major security improvements: A powerful new set of tools for individuals and businesses to secure sales, purchases and contracts.
Security, security, security. This should be everyone’s word of the day, every day until we finally figure this stuff out. Digital security is a field still in its infancy but I am excited to hear what NHZ’s team can do to push things forward.
11.) ‘NHZ think tank’ project: Bring together the ‘NHZ’ community into a group where the ‘NHZ’ development team can have direct input from the community to strengthen the channels of communication with the intent of providing the most innovative and secure products.
This one sounds unimportant to some but really it’s the one that will bear the most fruit. 2 heads are better than 1 and an entire community will outthink a few smart guys in an ivory tower, every damned time. The Open Source movement has proven that when we work together, we can solve seemingly insurmountable problems.
The fact that NHZ’s development plan includes harnessing it’s most valuable resource (human capital) in an organized and thoughtful way, says a lot about the seriousness of their intentions.
As always I maintain the notion that the entire crypto market could be a wonderfully complex scheme. I am perfectly willing to entertain such a hypothesis once I see evidence to suggest it might be true. However, I have been watching the market very closely and I have seen no such evidence thus far.
The grand experiment is of course, far from over but for now we must trust our own ability to rationally measure a platforms efficacy or lack thereof. While NHZ still has a long way to go in its development track, if they manage to show enough integrity to complete each stage then I will have high hopes and high praise for them the whole way.
Currently trading at under 250 Satoshi on Poloniex investing now means a very high potential upside with very small risks. We already know the technology works, now we also know how NHZ’s team plans to make it work better.