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Thred harnessing blockchain technology for its augmented reality app

The company's shares have surged circa 22% intra-day, last trading at $0.011.
new augmented reality functionality of the app
Thred is unveiling the augmented reality functionality next week

Thred Ltd (ASX:THD) has introduced blockchain ledger technology to its Sweep platform, in advance of its O-Week initiative which begins on 19 February 2018.

Sweep is a geo-locked chat and augmented reality (AR) app that allows people in the same area to chat with each other.

In-app challenge to discover digital coins

In a product first, the O-Week activation will unveil the use of augmented reality enabled digital incentives.

Users complete an in-app challenge to discover digital coins located around the campuses that allows them to win rewards.

Sweep has introduced blockchain ledger technology to operate this innovative feature, allowing the company to design and engineer additional platform features to enhance user experience.

Blockchain technology has the potential to unleash new capabilities

Geoff Marshall, chief executive officer, said: “The exciting truth about Blockchain is we know it is changing the world.

“It ensures trust with clever code and it has the potential for unleashing many new applications and capabilities in terms of security and transferring assets.

“We know this is just the beginning to expand the Sweep app and what it can deliver.”

READ: Thred reveals first of its kind augmented reality trial

Thred remains ahead of schedule for the release of augmented reality functionality for Sweep next week, as it continues to test additional mechanics and features.

Importantly, the O-week program trials provide an opportunity to get first-hand feedback from users, which in turn will fast-track platform development.

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