Reimagining Value in the Digital World — Part 2
In my last post, I talked about the current problems with money and value in the digital world, and how we are out to create a new model centered on user experience and engagement. Seems too good to be true, right? Well, for a long time it was. But the rapid development of new technologies over the past few years, particularly in the blockchain and crypto world, has opened a space to reconsider traditional economic models in which scarcity and centralization were always the driving forces. Now, we can begin imagining a world in which cooperation and decentralization could drive economic benefit for everyone.
Now if this sounds like an ambitious task, it is. But it is something the digital world desperately needs, and we here at Kin are always up for a challenge.
The new model we are proposing is actually quite simple. If you have an app, content platform, or digital service, all you need to do is integrate our SDK and then focus on creating the best possible experience for your users.
We don’t expect everyone to start using Kin right away, and we understand that people will want to test it for themselves. So for companies that already have a working monetization model, you can just add the SDK and start from there. But if you are building something from the ground up, then you also have the chance to jump right in and focus on creating incredible digital experiences.
No matter how you get started with Kin, the guiding idea is the same: We are building a decentralized business model based on the principle that the more engagement you create, the more value you create. I mean this in two ways.
First, when you put your users at the center and focus on creating experiences they love, you create value for them and the larger digital world.
And second, the world doesn’t run on good feelings alone, as much as we may wish it could, so I also mean value in the monetary sense. The more engagement you create the more money you earn — that simple.
To begin to accomplish our goal of changing how people think about and create value online, every new Kin partner receives a grant from the Kin Foundation just for signing up, and they will receive further grants for every user that starts to use Kin.
Along with this, every day the Kin Foundation will distribute Kin to every partner according to how much engagement they create. This way, partners are encouraged to focus on creating the best experience and not with finding new ways of squeezing data and dollars out of users just to keep the lights on.
I can easily imagine two questions here. One: How can we do this? And two, and perhaps more importantly: Why would we do this, and what’s in it for us?
The how is easy. As most of you know we are backed by Kik, a company that helped raise the necessary funds to get the project off the ground. But, Kin itself has been set up as a foundation to make sure that we only use those funds for the greater good and not for personal gain. Which of course leads to the second question: why?
Here’s the thing — we’re true believers.
We want to help put people back at the center of their digital lives and thereby help realize the true promise of the internet — a place that is open, fair, and equal. With Kin we can make it possible to treat users, content creators, online services, and brands with equal respect and value by making everything transparent and cooperative.
Users can once again become the holders of their own personal information and value, while companies are able to monetize without having to ‘use’ their users or compromise their own mission and values.
By creating a truly decentralized system, each user becomes his/her own center, and is rewarded (or paid) directly for his/her participation rather than through mediators such as google, facebook, or ad networks, while companies gain both in terms of monetization and brand value because they are able to act ethically and treat their users with respect and dignity.
Our approach to realizing this potential can be seen in our three overlapping product areas:
- Encouraging permissionless innovation that allows developers to build great experiences using the Kin blockchain.
- Developing an easy to implement SDK for companies or developers who already have users and want to move towards a better way of monetization.
- Creating a stand alone app that is focused on end users to help them get the most out the Kin experience.
We have chosen to address developers, companies, and users at the same time to ensure all of the pieces fit seamlessly together and to work quickly towards bringing our vision into reality.
Through the development of products that encourage innovation and reward creativity, experience, knowledge exchange, and engagement, we’re working to change how people experience and exchange value online. And, if I may be a bit bold, also take an important step towards realizing the true promise of the internet by making it more fair, transparent, and accessible for everyone.
