Boost small businesses with blockchain technology

in Project HOPE3 months ago (edited)

let's build this thing.jpg

As an offline business owner, I always try to question my company and how I could improve it. It's often not about finding a big invention that would revolutionize the world, but small things that could make a difference for me or my customers.

I tried to imagine how blockchain technology could be used to boost offline businesses.

One big problem for small businesses is to get the attention of the customers?

We often struggle to earn a living because we are competing for the attention of our customers. The problem is that customers are bombarded with news, ads and offers. How to get their attention for our business? I believe in this respect blockchain technologies could be really helpful.

A small coffee shop that uses blockchain technology

Let's imagine we run a small coffee shop. When customers come to drink a coffee, they can show their phone when they pay and they would receive a Coffee token. The amount of the token would have to be defined according to the amount spent. This token would be sent directly over the blockchain as a second layer token to my customer. To send the token, I would only need to scan a qcode on his phone that would get the username of the customer. Free transactions and done in 3 seconds.

On the website of my coffee shop, I write what I would normally write on my social media channels. Since they have been blocking some of my content and since it's very difficult to reach some visibility, I post everything on the blockchain. Nobody can block my content or censor it. My website is nothing else than a front-end to the blockchain where only related posts are visible. People can log-in with their keys and interact with my posts, or write posts themselves.

Stake, trade or buy

The customer can now stake the Coffee token and upvote my posts and earn curation rewards. He can also write a review about my coffee shop and I would give him a powerful upvote. By curating and authoring, he can earn more Coffee tokens.

He has now the choice what he wants to do with these tokens. He can stake them and earn more and more tokens. He can sell the tokens on the exchange for other tokens or he can use these tokens to buy stuff in my coffee shop.

Why would this help the small business?

As shop owner, I would need to but aside a budget for the token that I would use for the free coffees that I would have to provide to the people that pay with my token. This would be kind of my marketing budget. Every token holder has the potential to become a loyal customer. Why would the customer go to another coffee shop where he doesn't get tokens with his coffe? He could even come every day to drink a coffee to collect as many tokens as possible, stake them and get a passive income from upvoting content related to my business. He would automatically be very often on my website to look for the newest offers.

My coffee shop becomes a tribe

People would write about their experience to earn some more tokens. I could build a small tribe of my customers around my website.

Imagine the impact it would have to communicate with my customers. Let's say I want to organise a little party tomorrow. I simply write a post on my website and all the coffee token holders could see it and in not time I have people reserving to take part.

Now I want to scale my business and I create an online shop on my website. People can shop and simply pay with my coffee tokens or with other tokens that I can define.

Network effect

Now there is the hairdresser next to my coffee shop that also uses the same strategy. People can use the same blockchain to get his tokens and mine. If they need a haircut, they can actually exchange my coffee tokens for haircut tokens on the market and get a free haircut.

It could start with some small businesses working together to create this network effect and it would generate a huge early adopter advantage compared to all the businesses that don't offer such a thing.

This would have an amazing onboarding effect on the blockchain if there were many little clusters of businesses in the world using this technology.

The great thing is... All the tools that I presented here already exist. We just need to make it easier to use and create better UI's so that everybody can understand them without a degree in computer science.

Let's build this thing!

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This is awesome sauce 👍 we need more of this innovation.

Thanks a lot for your feed-back Bradley. I think there are no limits to integrate both worlds :-)

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Hello @achim03
Interesting proposal.
I recently learned that a relative of a client is implementing a cryptocurrency called tukaneta in a town in Colombia, they have had some resistance, but they are working on it. You made me remember it with your publication. I hope to meet them personally, to know exactly what it is about.
I wish this thing you are proposing could be made concrete, but everywhere.

I believe we are not that far away from having the tools to make it possible. Imagine how cool it would be to link real businesses with token economics on the blockchain. Every time I think about, I get some new ideas about it :-)

Thanks a lot for stopping by!

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good article, if you are a small company that depends on direct sales the coins and all the technology of the chain of blocks will allow you to access new sales enhancing your business.

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If small companies can adopt crypto and use it in all the possible ways, it could be unleashing a huge potential.

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Great post my friend. Really love the idea you explained here.

Thanks a lot for your comment!

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That is a very good idea, very interesting.

Thanks for stopping by!

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This is a GREAT post, Achim. This is exactly the concept I have been envisioning for my online Family History business. I will be printing this out and posting it next to my computer so I can refer back to it on a regular basis for inspiration and encouragement. Thank you for sharing your business acumen and helping others in growing their offerings.

Thanks a lot for your comment. I believe this could be the blueprint of a new type of business that could be applied to online or offline businesses. I actually would love to be able to implement it as well. For the moment it's still too complicated for newbies to understand things. If we reach a point were is so simply to simply log in and start posting, commenting and earning, then I believe that this technology could really make a difference for any type of business.

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Network always pays.

On a side note , Nearby shop community transferring token will strengthen their business all together. It is one of strategy to keep alive the small brick and mortar shop against large chains.

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It could be a way to survive for small businesses. In a way they could gameify their services and get a lot of attention.

Thanks for stopping by!

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This was a very nice and clever post, Achim! :) You have literally transformed "tribe logic" from Hive to an offline business... Described Hive logic as implementation into offline biz... Great stuff!

All the money that people spend on expensive commercials can be spent on blockchain... Spend all that money just on burning your coffee tokens, to keep the value, and you are already doing a lot.. and that is just the easiest thing... where are all the other possibilities... Huge potential!



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The more I think about this, the more potential stuff I see LOL.

Imagine the coffee shop needs a new coffee machine. It writes a post about it and sells coffee tokens on the market at a good price. Customers buy these tokens that they will consume in the future. The coffee shop gets funds today that it can use to buy a new machine. It will pay for it in coffees. Man this could be magical ;-)

Thanks a lot for stopping by and your amazing curation efforts!

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interesting. It could evolve to a reward/ purchasing currency interchangeable amongst businesses. example: your coffee shop accepts it own token for payment of course. My pizza shop give out slice tokens with purchases. The customer exchanges slice tokens for your koffee token and makes a purchase.
The customer rewards from my store equals a free purchase for the customer at your store. WIN for everyone

This is a very good example that could encourage people to select a certain group of stores and services. It would be a kind of barter economy where you can exchange one service for another.

Thanks a lot for your great comment!

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Just tell me when the token is up, I want coffee for blogging.

Wouldn't that be nice ;-). You blog and you get free coffe or a free haircut LOL.

Thanks for stopping by!

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😉

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