Block Chain Ideation: Micro Currencies and Incentive Systems
Remember when the conventional wisdom was that Search Engines were bad businesses?
Then, Google came along.
In a similar realm, I’d argue that inevitable is a working Affiliate Model whereby you predictably, boringly, earn a few chits at a time, similar to the way Search grew into a gorilla a few clicks at a time.
Here’s how it would work. With the emergence of the Blockchain, Bitcoin/Ethereum and Tokens, participating companies would formally join into an Affiliated Community.
Affiliated Companies would issue Micro Currency Tokens to drive deeper engagement by its user base making Customer Referrals, giving high impact Product Enhancement Feedback and/or Frequent Buyer status.
This would have the effect of rewarding desired outcomes of a company’s constituent base.
Tokens could map to the value of Bitcoin or Ethereum, so: A) There was a market mapped value; and B) Reward spending would be localized to within the Affiliate network.
By piggybacking on the Blockchain, you could create a verified chart of accounts common across all environments, enabling new types of services, marketplaces and communities to be built on top of this infrastructure.
Seeing the interplay of Micro Currency and Incentive Systems raises a central question. What types of activities is Micro Currency really good for?