Post by corytam on Oct 20, 2017 9:03:29 GMT -6
First off I would like to introduce a bit of myself.
I have studied in IT and business for much of my education and I always loved to see how technology can change businesses.
A great learning environment has changed me to be very open about ideas but I once never thought I would be drawn into the different aspects of technology and business. One of them is marketing and advertising.
A little interesting fact: I have actually even personally met the founder of direct marketing, Mr Lester Wunderman , while I was at an internship at Y&R which acquired Wunderman the company.
This bring us to the important points:
Direct marketing has changed the advertising world.
The internet and its by-products has changed the advertising world.
But I have always thought there is something missing after all these years.
The marketing and advertising industry is waiting to be disrupted
It probably was a few years ago there this thought came into my mind.
Perhaps cryptocurrency will change the advertising world
And Electroneum would be the first to start the change
The idea
With the centralized mobile app and tons of users , we now throw out the traditional paid advertisements and earning some in-game currency watching ads.
Clients and companies wanting to advertise on the app BUY ETN and pay to an exchange/platform/gateway of sorts , where (this are random numbers):
-20% goes to the the ETN team who manages the platform
-75% of the coins get "burned" in the sense that they can be "re-mined" but the supply not reduced.(I'm not sure about the technical term of this of if its even a term cause its slightly different from a traditional coin burn from what I know)
-5% goes to the user watching the advert
There might be some tweaks to where the coins go.
For example, perhaps some of the coins can be pushed into the mobile pool and we can remove a tax on PC/actual miners.
But we don't want too many coins ending up in the mobile pool so that's why I mentioned the coins going to back into supply.
Benefits
Obviously with this system, all companies who advertise (which is basically every company) will be looking to buy ETN.
Users of the app stand to gain actual tokens from advertisers
And coins are "locked" up / "burned" in a sense. It sounds very different from how we think about supply now, but that's what disruption is. The idea is crazy at first.
As months go buy , its harder to obtain the supply , but those coins previous once owned , can be obtained again at a "price" of higher difficultly. Unlimited supply? It seems that way , but the last few coins will be extremely difficult to obtain, so it is in a sense limited.
Future
Now the next step is getting this ETN advertising framework into other mobile apps and website and what not.
Perhaps Electroneum would implement a wallet profiling of sort to help advertisers do "direct" marketing. Even though wallet privacy is maintained that it cannot be linked to anyone , some form of transparency of how the wallet is spending with merchants on the ETN ecosystem can be allowed and an automated profiling is done, so a wallet that has transactions with clothing related merchants can be pushed fashion ads.
There can be much to discuss but essentially this is the idea, but I believe Electroneum definitely will have the expertise and means to do so and I'd be more than willing to share my idea with them, perhaps work with them in the future
Cheers
Cory Tam
P.S
On the note of "burned" coins since I'm not 100% sure how it works.
Perhaps it goes into a "mined pool" where mined tokens can be "remined", just another way of implementing it it its not feasible the first way.
Or also it could be a pool where its gives very minute rewards back to miners which is something like increasing the emission rate very very very slightly as a reward for difficulty. So the coins are locked up and very slowly distributed over time (even less than the emission rate at a fraction)
I have studied in IT and business for much of my education and I always loved to see how technology can change businesses.
A great learning environment has changed me to be very open about ideas but I once never thought I would be drawn into the different aspects of technology and business. One of them is marketing and advertising.
A little interesting fact: I have actually even personally met the founder of direct marketing, Mr Lester Wunderman , while I was at an internship at Y&R which acquired Wunderman the company.
This bring us to the important points:
Direct marketing has changed the advertising world.
The internet and its by-products has changed the advertising world.
But I have always thought there is something missing after all these years.
The marketing and advertising industry is waiting to be disrupted
It probably was a few years ago there this thought came into my mind.
Perhaps cryptocurrency will change the advertising world
And Electroneum would be the first to start the change
The idea
With the centralized mobile app and tons of users , we now throw out the traditional paid advertisements and earning some in-game currency watching ads.
Clients and companies wanting to advertise on the app BUY ETN and pay to an exchange/platform/gateway of sorts , where (this are random numbers):
-20% goes to the the ETN team who manages the platform
-75% of the coins get "burned" in the sense that they can be "re-mined" but the supply not reduced.(I'm not sure about the technical term of this of if its even a term cause its slightly different from a traditional coin burn from what I know)
-5% goes to the user watching the advert
There might be some tweaks to where the coins go.
For example, perhaps some of the coins can be pushed into the mobile pool and we can remove a tax on PC/actual miners.
But we don't want too many coins ending up in the mobile pool so that's why I mentioned the coins going to back into supply.
Benefits
Obviously with this system, all companies who advertise (which is basically every company) will be looking to buy ETN.
Users of the app stand to gain actual tokens from advertisers
And coins are "locked" up / "burned" in a sense. It sounds very different from how we think about supply now, but that's what disruption is. The idea is crazy at first.
As months go buy , its harder to obtain the supply , but those coins previous once owned , can be obtained again at a "price" of higher difficultly. Unlimited supply? It seems that way , but the last few coins will be extremely difficult to obtain, so it is in a sense limited.
Future
Now the next step is getting this ETN advertising framework into other mobile apps and website and what not.
Perhaps Electroneum would implement a wallet profiling of sort to help advertisers do "direct" marketing. Even though wallet privacy is maintained that it cannot be linked to anyone , some form of transparency of how the wallet is spending with merchants on the ETN ecosystem can be allowed and an automated profiling is done, so a wallet that has transactions with clothing related merchants can be pushed fashion ads.
There can be much to discuss but essentially this is the idea, but I believe Electroneum definitely will have the expertise and means to do so and I'd be more than willing to share my idea with them, perhaps work with them in the future
Cheers
Cory Tam
P.S
On the note of "burned" coins since I'm not 100% sure how it works.
Perhaps it goes into a "mined pool" where mined tokens can be "remined", just another way of implementing it it its not feasible the first way.
Or also it could be a pool where its gives very minute rewards back to miners which is something like increasing the emission rate very very very slightly as a reward for difficulty. So the coins are locked up and very slowly distributed over time (even less than the emission rate at a fraction)
