Sirwin
Sirwin
OC

The Absent Tokenomics of Ride Rental


Have you heard of Chainlink? Of course you have. It was the coin that, if we are to believe 4chan's infamous but equally glorious /biz/, a bunch of BTC whales considered good enough to pump. What we can say with certainty is that LINK is one of the few altcoins that have a price chart more intriguing than the usual boom and bust of a classic crypto bubble. The reason for this success (and the alleged favour of big players) is the fact that Chainlink, a platform for smart contracts, offering an oracle service, may be used to design solutions for real-world problems, such as facilitating access to digitally secured buildings by emergency medical services.

This is perhaps the most serious hint for anyone looking to launch their own token: value is ultimately derived from expectation of utility. In many cases that utility is simply getting rich on speculation, selling after the pump and being part of the dump, but this does not have to be the case. In fact, currencies with staying power will have some real use, some unique (or superior) feature. If the crypto paradigm shift is to occur and stay in place, crypto needs to provide real-world solutions that conventional money payments cannot perform so well.

For example, the modern trend for rental vehicles provides a huge opportunity for promoting the adoption of crypto. Think of all the car, bike and scooter hire companies: the customer must pay with digital currency, the vehicle is tracked in real-time by the provider's system. Is this not a huge privacy concern? Rent a scooter (which cannot be done with cash) and your every move on that scooter will be tracked and analysed, with your name tied to the journey(s) you make. Depending on how you feel about that you might be either non-pulsed or terrified. There ought to be a way to pay for a ride quickly, securely and anonymously. Crypto provides.

It baffles me that no major company offering scooters (Uber, Lyft etc.) has issued or adopted a token with which one could pay for rides yet. The technology is there and waiting. Large players like Uber would no doubt be hesitant to adopt privacy-friendly solutions since data-gathering gives them the edge over human unpredictability, but where privacy is an attractive offer, a challenger company could well win over a few major metropoleis. The adoption of an existing solution (IOTA, XMR, LTC) would be fantastic for privacy-minded customers, but a private blockchain under the custody of the company would provide much of the same benefits. While it would probably end up being pseudonymous (because the company would want analytics) that would be a huge step up from submitting bank details. Transactions would be near-instant and fees easily kept to a minimum. Volatility might be a problem, but the demand for real-life spending and issuer-controlled supply would even out huge fluctuation. In short, if there is any reason ride-rental companies are not crypto pioneers it is because they benefit extensively from data mining as opposed to crypto mining and with this sinister observation that basically proves my point I leave you.

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VVoytila
VVoytila

I love Christ.


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