What is S4FE?
S4FE is a a blockchain-based global network for the registration, search, verification, and identification of lost or stolen property. Property, as defined by S4FE, includes every imaginable kind of object, including electronic devices, jewelry, valuables, collections, documents, contracts, hobby equipment, vehicles, and machines, and almost every kind of imaginable object that is of value to its owner. At the moment, there exists a lack of standard of proof of ownership for most items, outsides of a receipt slip. S4FE aims to change this by setting new standards for the proof of ownership. By doing this, they also provide a means to combat theft, illegal possession and trade of items through the creation of a platform that can serve to help identify proper ownership of items.
History of S4FE
S4FE was incorporated as a company in 2018 in Vaduz, Liechtenstein, directed by Rolf Seeger. Its team members consist of individuals with backgrounds in smart contracts, the blockchain, application development, investment management, and Windows system administration. Their ICO ran from October to December 2018, in which it raised approximately $3,000,000. The S4F token was launched for trading on exchanges on February 8th, and less than two weeks later it had obtained a market capitalization of over $40 million, making it one of the fastest growing ICOs of 2019.
How S4FE Works
S4FE allows for items of all kinds to be tracked by storage of a serial number to the Ethereum blockchain which is linked to the owner of the item. Items can be verified via proof of receipt and declared missing or stolen by posting an alert on the S4FE app. The S4FE database is accessible by everyone, but users need to pay a fee in S4F, the platform native token, in order to register materials or post rewards for the location and/or return of missing items.
S4FE is a very unique idea in the blockchain space in that it is attempting to solve a problem through use of the immutability aspect of the blockchain, which is the registry of ownership of personal items. Some of the advantages of S4FE include:
- Ethereum-based. As the S4F token was created on Ethereum and the information pertaining to ownership of an item is stored there, it enjoys the speed and security of the Ethereum platform. Likewise, rewards offered in terms of S4F can be sent hassle-free through an Ethereum transaction.
- Anonymous. Users who register their items with S4FE do not have to reveal their personal information in order to participate, rather they can provide ownership via email and proof of receipt only, at their discretion.
- Authenticating service for sellers and buyers. In addition to the original owners of items, S4FE can be used by potential buyers and sellers of goods to make sure that the item in question was not previously stolen or otherwise belongs to somebody else.
- Theft deterrent. Upon achieving a large enough user base, S4FE can eventually act as a deterrent to theft and trade of stolen goods.