OST, "Open Simple Token" is the result of several years of research and exploration into consumer app tokenization and a couple of big “aha” moments along the way.
When Jason Goldberg, serial entrepreneur with several successful ventures, began building his previous company Pepo (a social media app to connect consumers with everyday experts), he was looking to find ways to leverage digital currency to incentivize user participation. Jason and his team quickly realized that they would need to build a ton of new technology, scalability solutions, and user experiences to tokenize just one app, Pepo. That led to a big “aha” moment: rather than building for only Pepo, they decided to build the OpenST protocol and software suite for any company to utilize.
The next big “aha” was the realization that there was tremendous opportunity to develop technology that could provide an on-ramp for consumer apps to bring some of their business onto more private, permissioned blockchains – particularly while most of the blockchain industry was focused on completely decentralized apps. From this, developments around OST being the on-ramp and bridge from consumer to crypto materialized and began to take off.
If you want to hear some of the back story, check out this video and podcast of Jason Calacanis interviewing Simple Token CEO Jason Goldberg: