The co-creator of Grono.net: “Zalando should have its own brand token”
Robert Wesker, the co-creator of the icon of the Polish social media — Grono.net, is currently focused on creating a project connected with the blockchain industry. What has made him decide to do that and what are his plans?
KAROLINA KROPOPEK: Your previous experience is connected with creating social networks. Why have you taken interest in blockchain? What can you tell us about the future of this technology?
ROBERT WESKER: Blockchain technology is intrinsically fascinating and I can see that it has many social aspects. Cryptocurrency and tokens are strongly characterized by emotions. They influence our behaviour and decisions, not to mention the excitement caused by the change in their prices. Globally, the Blockchain community is one of the most active groups in the network. No other technology, whether it is AI or quantum computers, involves so many people globally as cryptocurrency does. The involvement created by it in social media and the interest in Bitcoin, all of that can be compared probably only to the fascination with SpaceX rockets or Tesla cars.
That fascination influenced also me and, just like many people before me, I “caught that bug”. Blockchain entranced me with its simplicity and the brilliant way it dealt with the problem that we, as humanity, have been struggling with the beginning of technology, which is money. It was even lacked when trying to activate some functionalities which were considered during the development of Grono. Now everything is possible. The combination of new technologies, including Blockchain that allows us to store data safely, Cloud or Machine Learning, which facilitate the automation of numerous processes inside social media, open up fantastic business possibilities for us. It would be a mistake not to use them.
We can observe that the mode in which applications function is changing. The world loved decentralisation. In this mode, there will be created not only new projects but also records as a trusted cloud environment for the decentralised applications with their own currency used to exchange values among the members of the cloud ecosystem. It can, in turn, become fuel for, for example, the new generation of social media.
K.K.: The aim of the platform of which you are a co-creator is tokenization. Could you, please, explain to our readers what it is really about? How can we understand this term?
R.W.: You can tokenize everything, literally. Interests in a project, the brand belonging to a concrete manufacturer or even you, real estate etc. There are no limits here. This is just like in the ’70s, when Friedrich August Von Hayek in his work “The Denationalization of Money” was writing about tokens that could regulate themselves on the market and maintained their value as well as general recognition.
The consumers show a growing tendency to use tokens. It can be confirmed by the research conducted by KPMG or Deloitte. Blockchain technology is a new occasion for companies to reshape the previous model of trade and to build an interaction with customers.
K.K.: Why should Zalando, Netflix or Nike have their own brand tokens?
R.W.: To get it clear, a loyalty point is also a token. However, for the purposes of our conversation, let’s say that a token is a point but emitted on the basis of Blockchain.
Big companies do not have to be convinced about loyalty programmes for they perfectly know that these programmes can boost retention efficiently and, consequently, be more profitable. When I was building the first social network, I had to convince everyone that it was the future of the Internet. Today, we are facing a similar transformation. Soon, it will be natural for brands to choose loyalty tokens.
The research conducted by, for example, Deloitte, show that replacing the points with tokens will not only resolve few crucial problems of traditional loyalty programmes but also it will enlarge the involvement and retention of a customer.
One of the biggest problems of loyalty points systems is the so-called Breakage around 30% of the distributed points that will never be used by a customer. Because of that, these systems are forced to, for instance, delete our collection points or to increase inflation. There is nothing more frustrating than the moment when we collect the points and learn that they are deleted. It negatively affects the relationship with the brand and causes a high percentage of people to drop out of loyalty programmes. Not to mention the fact that the points which are not used are described in accounts as an obligation.
Meanwhile, tokens offer new quality. They provide a customer with the knowledge which could always be used by corporations the price of one point. Thanks to that, tokens can be safe and quoted on the market in real-time; they give customers a more concrete feeling of significance. A customer knows how much they were given in exchange for their loyalty.
Also, it is connected with the expectation of the future value, so, a token distributed today may become more valuable in the future. It is one of the most attractive aspects given to us by cryptocurrency.
Blockchain-based loyalty programmes will be cheaper, safer and more attractive to customers tokens are a logical step for every brand which wants to keep customers interested in their offer and searches for modern solutions.
K.K.: However, Blockchain industry is relatively young. Will not brands or private users be distanced towards tokenization?
R.W.: The tendency to the quick adoption of new technologies can be seen from years and this is unlikely to change. Every company, at its own pace and according to its own abilities, uses them in order to meet their needs and to gain numerous profits. That will happen this time, too. Blockchain raises great emotions because, as it is a public and at the same time private, stable, unchangeable product, it has many applications. It creates resolutions which were either too expensive until today or impossible to be achieved by different methods.
Being distanced towards a change is something natural. However, if technology helps us to save a lot of money and is profitable enough, the adoption of it inescapable. Years ago, companies were afraid of the Internet because it was “anonymous”. Today, we hear the same about Blockchain.
— — — — — — — — — — — — — — — —
Want to know more or discuss your ideas?
📩 Join our global chat at https://t.me/BrandtokensChat
📲 Sign up to beta testing on https://www.brandtokens.io/register
✅ Vote for brands who should join us through https://www.brandtokens.io/voting
📣 See the latest updates on Twitter https://twitter.com/BrandTokens
👀 Follow us on Facebook https://www.facebook.com/BrandTokens
📰 Read other articles on Medium https://medium.com/@brandtokens
💰Support the project by buying BRND in our ICO https://www.brandtokens.io/ico
