Matchpool Bids on Blockchain to Disrupt Multi-Billion Dollar Online Dating Market

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Matchpool Bids on Blockchain to Disrupt Multi-Billion Dollar Online Dating Market
Image via Pixabay

Matchpool has announced plans to launch a new service that leverages blockchain technology to disrupt the multi-billion dollar online dating industry.

Matchpool UX Demo, Jan 2017
Matchpool UX Demo, Jan. 2017, via YouTube

A mix between Tinder and Meetup, Matchpool will allow individuals to create “pools” based on particular interests. These pools aim to facilitate connections among friends and niche communities and will come a number of features including messaging and a digital currency wallet. They are described as “a cross between Slack channels and Meetup groups – federated, invite-only groups owned and run by devoted matchmakers,” according to the whitepaper.

The idea behind Matchpool is to enable anyone, anywhere to set up their own matchmaking community, which they can monetize, the company said in a press release.

“Many online dating services use subscription-based models that do not align with the interest of the user,” said Yonatan Ben Shimon, CEO of Matchpool. “Our vision is to let anyone become a matchmaker in their own community to facilitate a more natural online dating experience for everyone involved.”

Opening a pool will be free of charge and a “host,” or a pool founder, will have several ways to monetize it: either charging a recurring subscription fee, or by charging for matches.

The platform will come with its own appcoin, the Guppy token, which will be used to incentivize participation. Ethereum smart contracts will handle the trust-sensitive ownership and reward structure within the platform, as well as the core logic which makes it work.

With an explosion of new websites and apps, the online dating industry is continuing to grow as today’s singles increasingly turn to the Internet to find their perfect match.

Online dating is no longer seen as a last attempt for the desperate and lonely but rather as a way to expand one’s dating pool.

According to Statista, 7% of adults aged 30 and 49 years in the US met their spouse or partner online. Each year, the online dating industry generates approximately US$2 billion in revenue and has expanded to an annual rate of 5% between 2010 and 2015.

As of July 2015, 22% of adults aged 18 to 25 years in the US had used online dating apps. Tinder, the most popular mobile dating app worldwide, has users in 196 different countries and makes some 26 million matches per day, according to data provided by the company.

Tinder is a location-based social mobile app (using Facebook) that facilitates communication between mutually interested users, allowing matched users to chat. The concept is quite simple: after seeing a few pictures of someone and reading their bio, you decide if you are attracted to this person, and swipe accordingly.

Matchpool is set to be launched in a limited released in the spring 2017.

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Diana Ngo is a freelance fintech, blockchain news writer based in Ho Chi Minh City, Vietnam. She has worked for French- and English-language online publications, covering fintech, blockchain technology and digital currencies. Diana joined CoinJournal in June 2015. Contact her by email: [email protected]
  • FYI:
    The 3 milestone discoveries of the 2001 – 2010 decade for Theories of Romantic Relationships Development are:
    I) Several studies showing contraceptive pills users make different mate choices, on average, compared to non-users. “Only short-term but not long-term partner preferences tend to vary with the menstrual cycle”
    II) People often report partner preferences that are not compatible with their choices in real life. (Behavioural recommender systems or other system that learns your preferences are useless)
    III) What is important in attracting people to one another may not be important in making couples happy. Compatibility is all about a high level on personality similarity between prospective mates for long term mating with commitment.

    The key to long-lasting romance: COMPATIBILITY is exactly STRICT PERSONALITY SIMILARITY and not “meet other people with similar interests”.

    WorldWide, there are over 5,000 -five thousand- online dating sites
    but no one is using the 16PF5 (or similar) to assess personality of its members!
    but no one calculates similarity with a quantized pattern comparison method!
    but no one can show Compatibility Distribution Curves to each and every of its members!
    but no one is scientifically proven! No actual online dating site is “scientifically proven” because no one can prove its matching algorithm can match prospective partners who will have more stable and satisfying relationships -and very low divorce rates- than couples matched by chance, astrological destiny, personal preferences, searching on one’s own, or other technique as the control group in a peer reviewed Scientific Paper for the majority (over 90%) of its members.
    but no one can show you a list of compatible persons like this:
    ( for a prospective male customer / sample but calculated with real values)
    “Over 1,000,000 million women database, here is the list of the 12 more compatible with you. Notice that woman#1 is the most compatible with you but she could be more compatible with other men right now.
    woman#01 is 95.58476277% compatible
    woman#02 is 95.56224356% compatible
    woman#03 is 95.52998273% compatible
    woman#04 is 94.18354278% compatible
    woman#05 is 93.00453871% compatible
    woman#06 is 93.00007524% compatible
    woman#07 is 92.99738452% compatible
    woman#08 is 92.37945551% compatible
    woman#09 is 92.29779173% compatible
    woman#10 is 92.27114287% compatible
    woman#11 is 92.19515551% compatible
    woman#12 is 92.12249558% compatible”

    The Online Dating Industry does not need a 10% improvement, a 50% improvement or a 100% improvement. It does need “a 100 times better improvement”
    The only way to revolutionize the Online Dating Industry is using the 16PF5 normative personality test, available in different languages to assess personality of members, or a proprietary test with exactly the same traits of the 16PF5 and expressing compatibility with eight decimals (needs a quantized pattern comparison method, part of pattern recognition by cross-correlation, to calculate similarity between prospective mates.)
    High precision in matching algorithms is precisely the key to open the door and leave the infancy of compatibility testing.

    Without offering the NORMATIVE 16PF5 (or similar test measuring exactly the 16 personality factors) for serious dating, it will be impossible to innovate and revolutionize the Online Dating Industry! All other proposals are NOISE and perform as placebo.

    Kind Regards,
    Fernando Ardenghi.
    Buenos Aires, Argentina.
    ardenghifer AT gmail DOT com

    • Max Richardson

      Hi Fernando – thanks for your post. This is actually being implemented inside the app. Other apps have done this and been quite successful. Would love your feedback on it. Please feel free to join our slack on: https://matchpool.signup.team – Max, Matchpool.

  • Maria

    I’ve been using modern dating services for a while, now; Mobile dating, internet dating, you name it… It’s not really rocket science – you get in touch with people looking for a date over the internet or via a mobile app. There are many interesting sites like celebrity snapchat names .