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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] RibbitRewards - World's first blockchain rewards program [Airdrop is now!]
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on: November 15, 2014, 05:12:30 PM
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What's cool about this idea is when merchants and marketplaces start to offer RibbitRewards to their customers it does two things:
1. It costs the merchant or marketplace nothing to offer it. The value comes from the blockchain. There is a strong incentive for them to offer it!
2. Once a merchant or marketplace is integrated ALL of their customers who transact are now RibbitRewards users. The growth of demand is built right in.
The user base can grow very rapidly. Consumers don't have to change any behavior whatsoever.
The best part though is the last step, after merchants and marketplaces are offer it as rewards they will want to offer MORE to their best customers. But the value is coming from the blockchain so to offer more RibbitRewards to their best customers the merchants or marketplaces must somehow get MORE from somewhere else. The best and easiest place to get that is, to allow their customers to PAY for things in RibbitRewards, or, merchants now accepting RibbitRewards as payment.
That, is the final step to a viral network effect. It is something Bitcoin struggles with, because Bitcoin does not have the previous step, of merchants being able to offer it for free as purchase rewards. There really is no reason for merchants to want to allow their customers to pay in Bitcoin because they have no need for Bitcoin. But there is a reason for merchants to want to allow their customers to pay in RibbitRewards because they DO have a need for RibbitRewards.
The fact that users get rewarded with blockchain technology with out changing their behavior is HUGE! We live in a world where just one extra step can stand inbetween success and failure of an ideology. |
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Wonder who that could be 
