[BLOG] TEMCO ECONOMICS 101
TEMCO, taking over the competitors by storm with the revolutionary token economy.
To determine the predominance in the blockchain space, the concept of a token economy is very crucial to the companies that exist within the space. It is expected that this year, numerous amounts of companies in the blockchain space will compete to integrate blockchain technology into diverse industries. To survive in such intense competition, voluntary participation and substantial support from everyday users, also the layout of the healthy token economy cannot be ignored.
The innovative construction of the healthy token economy seems to be the most import aspects of the competition of the companies that exist within the blockchain space.
Accordingly, TEMCO constructed an incentive-based token economy for voluntary participation of everyday users. TEMCO’s token economy operates on basis of “tokens” and “points”. In the economy, the tokens are used to conduct transactions within the platform. The points are used in means of incentives for contribution within the in the platform.
In the case of the everyday consumers/users, the tokens are used to consume services and transactions within the platform such as purchasing products and paying for smart contract fees in the blockchain. Also, points are awarded for reporting damaged goods, counterfeit items, and participation in the community.
For vendors and sellers, tokens are used to consume services such as usage of BI-Tool (Business Intelligence Tool) and other analytics services for gaining strategic business insights. Also, when the companies upload data into the blockchain, incentives are given to encourage participation in the platform. As more companies participate in the platform, the data will accumulate to create a giant database. Through such a token economy, there are also more active users continuously participating in the platform. Other consumers can view and share transparent information, developing a platform that is trustworthy between the consumers and the vendors.
Not only such services are provided, but also, the token staking users enjoy benefits such as full participation of the contribution program and extra rewards. However, to prohibit overextended participation, the token stacking lock-in period is applied. During the token staking lock-in period, the contribution program and promotions are prohibited.
In the case of vendors, they can take advantage of the data analytics service, such as discounts for usage of the BI-Tool. For consumers, they can receive points by uploading of data into the blockchain, writing reviews for products, reporting of counterfeit items, etc. Through such a token economy, the platform promotes a quality experience of the sellers and provide quality products to consumers.
While the intense competition in the blockchain space persists, TEMCO’s token economy is receiving major attention. Incentives based on the contribution of all users (sellers and consumers), also encourages voluntary participation of the users in TEMCO token economy to promote a healthy ecosystem.
TEMCO: Innovative Supply Chain Data and E-Commerce Solution through Blockchain and Smart Contract Technology.
▶TEMCO Chatroom: https://t.me/temcolabs
▶TEMCO Official Website: https://temco.io
