Smart Social Contract — FAQs

To ask may be but a moment’s shame, not to ask is a lifelong shame. All the questions for the Smart Social Contracts.

Will consumers really prefer companies that use this system rather than the traditional one?

Not all of them: some people might never care about the impact companies have on the environment or on society.

For anybody who has been caught by a marketing message “If you buy our product we’ll do this and that”, then yes.

For a company there is no extra cost in implementing this model, assuming that you actually comply with your statements. This is just a way to demonstrate it to your stakeholders.

We cannot and shouldn’t make decisions for consumers. We just feel that they deserve to transparently know the truth, so they can make a conscious decision.

The Smart Social Contracts will become the platform and coin to guarantee, through the blockchain, those promises.

Even better, once people understand more the technology, they will realize that there is no other way for companies receiving payments through our coins than to comply.

Why should companies care?

Simply, because their customers do.

Customers already prefer companies that address the impact they have on the ecosystem they interact with. Now, they will prefer even more companies that can prove their actions.

This is a huge opportunity for a business to gain a competitive advantage, by simply connecting to a system that validates what the company has been saying, and doing, so far.

What will be the impact on the market?

We want to create a new standard. Transforming the Corporate Social Reponsibility from a buzz word to facts.

If a company doesn’t want to make any promise, it’s free to do it.

But it should become unacceptable not to have the visibility to control the results of their promises. At the end, the customer has complied with his part of the social contract, so it’s fair for him to know the other side has done the same.

If this happens, any company that doesn’t set this as their minimum standard will be penalized by the market.

Social is quite a generic word. What areas will you address with the Smart Social Contracts? Will you be looking at charities, democratic issues, etc…?

Blockchain is a true revolution with plenty of applications and we are just seeing the tip of the iceberg.

Other companies are doing a great job in other sections of the value chain and we’d recommend you checking them out:

• Giftcoin provides trust in the process of donations to charities from people.
• Good chain, a system to control how charities spend their money.
• Alice.si, transparency for donations (users-charity).

We will not be able dig into pure donations, or into how charities use their funds as it would distract us from our main mission: to provide a platform for a sustainable business model. This means our focus will be only on commercial activities.

Why do we need another cryptocurrency?

Our currency does not provide any technical advantage compared to others. We provide a business model.

A customer can be mathematically sure that, by paying with our coin, the promise he is expecting will be fulfilled by the company, or the transaction will be reversed.

How will companies sign up for that? How will the process work and why should they choose your platform?

The process is straightforward for any company that wants to be part of this revolution:

• Set up their smart contract, indicating their promise
• Start accepting payments with our cryptocurrency

Does it sound too futuristic for a company to accept payments in cryptocurrency?
Microsoft, KFC, Subway, Expedia, Save the Children and many others already do. Check out an extensive list.