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RE: Cryptocurrency Adoption: Corporate Coins

in LeoFinance3 years ago (edited)

It's a give and take. Canadian Tire is a retail empire, and they made their own version of this 'token' decades ago. Now corporations can do the same, but apply new technology. People will take it. It's a give and take system. Canadian Tire didn't extract personal info or track anything. They just handed out paper currency. Now you can do it with a card.

My guess isn't a cash grab. People already enjoy blindly handing over personal data. They'll be browsing the internet and rather than getting those random polls like we see on Youtube, they'll already have the data. This approach will be a boom for advertising. Do I personally agree with that, no.

Wouldn't worry about Walmart anyway. They've been one step behind for nearly two decades now. You mention Kings of Leon. These are old ideas, old business models, trying to grasp new concepts. They always fail in a sense but it's failure due to following 'trends' which is always the easiest way to stay behind. It'll still work out for them, and the consumer.

I'm an artist. I see new business models developing here. I see the NFT model is just people emulating something old; something they already know. And I'm a lunatic for pointing out how a vote is a form of tip. An idiot for explaining how the consumer can support arts and entertainment simply by moving value from their bank account to the Hive account (as example), technically not spending any money yet can still achieve their goal of supporting what they like. That can be applied to any product on the planet but anyone else doing it would have to first establish what we already have here and have had for years. Maybe 2025 people will finally grasp that concept, as it sits under their noses here waiting.

Corporate business is predicable. They have to adhere to laws so they'll take something that already works, apply that label to it, but borrow the new technology. A 'community' token means that money is only good within that community. You can even see this taking shape here. I can't support LEO with POB tokens. Luckily for us HIVE is still universal. You won't be able to buy Target merchandise with Walmart coin. And if you allowed for these tokens to be traded and artificially pumped, when they're being handed out for free, you'll be selling televisions for 2 dollars, fucking yourself, and going out of business. Spending cash to first buy a token in order to purchase something that can already be purchased with cash is red tape that will naturally be ignored. That's why it was ridiculous to think Tesla accepting Bitcoin would bring new money to Bitcoin. Skip that step and just buy your damn car...

Anyway. Thanks for bringing out this thought train.