The smart contract is excellent. It’s still in the process but has made a huge leap forward. The potentials are unpredictable. Estimating the potentials of the smart contract could be meaningless because estimations could only limit its growth. This limitless smart contract isn’t difficult to utilize. Smart contracts that are difficult to use will be scarce in the future.
However, the disadvantage in using the smart contract would be its expenses. (Ethereum Gas). Compared to existing web services, letting the users (including the ones that improve the service) pay the commission fee can be very inconvenient. We must pay costs whenever we put something on the blockchain. This can be a burden to the user.
We have thought about a way to solve this problem after a long period of time. That’s how we found sponsors as a solution. We receive service fees through sponsorship. Many of the older web services cover the cost of this server in the form of advertising. The service itself works as a third-party intermediary, and with the remaining funds they pay for the employee’s salary, dividend payout, and service improvements. On the blockchain system, there is no such thing as a third party intermediary, this means payments for advertising are cheaper than the existing centralized services. Sponsors can advertise themselves for a cheaper price and the payments will only be used for maintaining the service fee. Therefore, smart contract users can use the service without paying anything. (Users with bad intentions who might waste the service fee will be further mentioned in detail when discussing about self-regeneration.)
With a third party, service fees can be free for users. Service free of charge makes it hard for users to acknowledge and appreciate the value of the service.(Free charge isn’t always advantageous.) On the blockchain system, it is a peer to peer connection. This is a very important point. By the functions of the blockchain, users can clearly find out who they are being paid by in detail. People need to know who makes the service possible. On the blockchain system, the users will be notified on who has paid service fees for them. Users being acknowledged that the service isn’t free but that it is paid by someone else, they will feel responsibility whilst using the service. This overall contributes in making a healthy ecosystem.
Then why do spnosors sponsor? It varies depending on the purpose of the sponsor. You can sponsor them like an existing advertisement. Then, user fees will be paid by the sponsors and users will feel gratitude towards them. It could be the most direct and straightforward advertisement. And on the blockchain, there is no intermediary, so the sponsors know exactly much they paid for who.
Also, sponsors can be made between friends. For example, think about paying a certain amount of sponsor fees to a close friend. This could be more valuable than giving money or a gift. The friend can connect with someone with your sponsor fee and make a story. (My friend has borrowed a projector from someone with my sponsor fee) Sponsors can be made by an organization. The same goes for the government! You can also make donations on the blockchain. People who receive donations can express their gratitude to a certain person.
Then how are sponsors be notified that they have sponsored someone? They will notify themselves by “Sponsored by sponsor” and this is all. (Links for the name can be added!!) The name for sponsor can be made by the sponsor. For example, ‘sponsored by Coca Cola’ or Sponsored by your friend who stayed with you for 131 years’ can be possible. By not mentioning the exact name, you can create curiosity from users and this can be another factor for an entertainment. advertisements have contributed, mobilized numerous visual factors in a short period of time, to attract the eyes of the consumers. However, if advertisements get too excessive, it can rather stress the viewer. We need wit rather than excessive stimulation. It’s not just businesses. Even friends can play by sponsoring nicknames. For example “Sponsored by your first love~”.
This is what we think about the concept of sponsors. People can pay for the server and freely use the smart contracts within it. Sponsors used to silently pay fees behind the service, but now they can confidently join the service. Joining is less excessive and humorous than traditional services. We are looking forward to seeing sponsors that we couldn’t imagine in real life.
