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RE: What services or products would increase the value of STEEM?

in #steem6 years ago

The only thing I can think of is a partnership with some massive company that has tons of customers. There is no other reason for investors to dump money into this black hole, (for the reasons you mentioned).

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Rather than massive companies -- I feel like the same effect could be achieved with a focus on small businesses. I wrote a comment above w/ a use-case of a cafe and loyalty-cards.

  • Cafe-X powers up such that it can dish out, say, a $0.50 USD upvote.
  • Cafe-X creates accounts for their customers, and a simple smartphone app that allows them to see their balance, and that's about it;
  • Cafe-X has a QR code on their counter where you can "check-in" / "review" / "Whatever" on STEEMTM
  • Patron gets an upvote on their automated 'micro-blog-thing';
  • Patron can redeem $5 worth of STEEM for a $4 coffee after they've accumulated enough.
  • Cafe-X accepts STEEM for the coffee, rather than the nothing they currently accept w/ loyalty programs;
  • Cafe-X can then exchange STEEM for fiat if desired.

The problem being the spread and scope of the partnerships. The loyalty card would be a really cool use-case/experiment but it would take a concerted effort, time, and large enough customer base to gain enough traction to get noticed by "money".

I know I am talking to the wind, but Steem needs a two pointed attack. One side towards the many small businesses and the other focused on the large established companies.

Powering up to reward content is a dead end for any investor not already on the platform. But then this is the problem with ALL crypto right now, real world uses.

Certainly agree with what you're saying here.

Though, I think the small~medium sized business is still the way to go. I've got some interesting ideas for how to eventually start approaching some local businesses (as well as the company that I work for) for partnerships w/ my EXHAUST project -- which I wont go into detail on.

At the end of the day though, all of these use cases ultimately rely on, at some point, the "exit" of turning STEEM into fiat (until some unlikely day when maybe grocery stores and landlords start accepting STEEM).


Maybe in the points listed in my initial comment, where I suggest that "cafe owner is now receiving STEEM rather than the nothing their loyalty cards previously got them", maybe a portion (or all) the received tokens could be burnt.

But that just raises the question of "why bother using Steem at all?". So who knows...?

The lynch pin is still the need for fiat. We are fighting a bigger problem which is crypto adoption in general. I hope you are able to get some solid integration going to help bring more uses to Steem.

I am not a salesman and have little ability to effectively communicate to a business owner the benefits of using Crypto. That's why I appreciate the efforts of those like yourself to try and push.

This is actually some great thinking :)

I just don't see that happening at this point. Too far down that black hole.

Namely at the scale needed to bring in the bigger investors. Little partnerships have limited scope and draw for large investors.