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RE: Making It Work: The Steem Ecosystem. "THINKING OUT OF THE BOX"!
Hello Jack,
just came across this very appealing read. We at @impactn are thinking along lines, which are to some extent quite similar.
Our goal: a token economy incentivising those, participating in the generation of social impact (good education, clean oceans, saved bees...).
Our challenge: how do we make people move from the FIAT world into the crypto-world
Our answer: start with a system of reward points, which are not transferable between users (and issued by a third party), then give them an incentive to move into the crypto system and use token
The incentive: being able to (micro)-fund good projects all over the world and to pool token to finance projects.
Any ideas on this? Would be great to have an exchange.
So if I understood right, you plan on setting up the community of people first, have a network in place, all of whom have "earned" the mentioned points and then set up a blockchain along with a crypto token.
Did I get that part right?
We'll have two starting points.
The first one you described correctly.
The second one will be working together with a part of the Steem community already engaging in favour of social impact.
So our task is to merge these two approaches, while introducing the social impact token at some point.
This describes the setup of the start phase. We think, for a long time to be we'll need to have the opportunity for non-cryptos to start with reward points and then slowly "slide" into crypto.
So there will always be a non-crypto and a crypto-community plus a hybrid business model. Within this buiness modle there'll be the possibility of transferring points into token - not vice versa.
I believe you have the right idea as far as the general step by step process goes. Although I don't see why the business aspect would have to be limited one merchant (your store), maybe as a starting point, but definitely leave it open to the market.
As for the code, you already have 99% of what you described in the Steem code, which is open source.
The only thing I couldn't figure out is "Why restrict the transfer of points?"
I fail to see any benefits to it, especially considering the fact that no matter what we do, "black market practices" shall always exist.
People are most productive when it comes to finding ways to beat the system, so called "loop holes".
So, rather than "outlaw it", let it be legit and let people send them to each other freely, that would be my stand on that.
Thanks for the comments. Why restirct the transfer of the points?
The idea was, to have a many incentives as possible to join the cryptoworld. A big one would be to have the possbility of points-transfer. We don't really care about people beating the system. It'll probably be a minor part.
Concerning the market you are completely right. Somehow I must have explained it badly: we plan to open up a marketplace open to vendors, since our business will be the platform and not a store.
Great information of yours, that 99% of the code already exists. Thus, we can concentrate on UX/UI and marketing.
Moving the reward into a currency is not a difficult transition. The reward begins as a function-able token, It has a purpose it may be used in some manner of redemption for an alternative reward. It is basically a currency with 0 value outside of the circle it operates within. Making it a currency is as simple as giving it a value.
In any system that is developed and implemented there will always be a % which will see a method to gain some advantage. Every system has a loophole which can be manipulated. Every reward system holds its flaws. The only method to control this abuse is to track each reward and have it only redeemable by the identity it was issued to. This results in a two way trade only. and the token cannot be traded to third parties. This will not isolate the loopholes or abuse of the system. it will merely lead to other already established methods of gaming the system being used.
Just a thought.