Chapter 3, Business Model Innovation in Chainless Systems
The first two articles discussed product innovation and production relationship innovation, respectively; this article is about business model innovation in chainless systems. The terms mentioned in this article are all first-time, which shows the author’s understanding of the community. The sharing characteristics of the Internet correspond to the user reuse proposed by Mr. Zhu, thus generating platform resonance. This article believes community is a suitable means to transform finance, deriving financial e-commerce’s gameplay. How does finance make the wool come out of the pig? This article provides a method.
Customer reuse is the value of the platform
Does the Ethereum platform have a user reuse effect? Ethereum’s smart contract project DAPP must use Ethereum for transactions, and its users must be Ethereum users, so users are reused. The problem is that all Ethereum marketing promotions must be done by the smart contract project DAPP itself, making it difficult for projects to stand out. According to data statistics from Pan News, at the end of 2022, Ethereum had 1,259 active DAPPs, which is far less than the tens of millions of broadcasters and bloggers and less than the millions of mobile apps. They are all reuse platforms; why is there such a big gap? It shows that there is great potential. Is there any way to increase the number of active DAPPs on the platform?
Platform and project resonance, Web3 has more advantages
The decentralized standard currency DW20 is an application project of the chainless platform. When it issues coins, the chainless platform also issues coins to the registered users, making the users of DW20 also become users of the chainless platform. The more application projects the platform has, the more coins users may get and the more attractive it is to users. On the other hand, the more users the platform has, the more application projects it attracts, thus forming a positive cycle, which is the resonance effect. The resonance phenomenon may create a fantastic user growth rate.
No platform project in the field of cryptocurrency has this resonance effect. The chainless platform project support fund is an incentive for the project party, and sending chainless coins to users is an incentive for users. The project and its customers are incentivized at the same time. Only Web3 platform projects have this advantage, which is unimaginable in Web2. Mr. Zhu may have opened up a new path.
Ethereum uses the model of wool coming out of sheep. In general, the resonance phenomenon is still an improved innovation of Ethereum’s business model. If it stops here, it will not be much higher than Ethereum in terms of valuation model. The chainless community is prepared for the chainless system to realize the model of wool coming out of pigs.
Financial e-commerce is the next outlet
The Internet was used as a tool at the beginning. After 30 years, only finance still uses the Internet as a tool. We can’t sell financial products like Taobao. Why? The reason is that Taobao sells “now,” and financial products sell “future.” The future is invisible and intangible. We are deceived because we don’t understand, and the decision-making method for problems we don’t understand is “belief.” Behind belief is credit, and the level of credit is rated. However, when the share price of ICBC is 3.9HKD and the net asset per share is 9.6HKD; when we can see the predicted rate of return before buying insurance and wealth management, but we don’t know the underlying assets and uses of the insurance company, when Credit Suisse can go bankrupt; can the rating still be credible? Who can we trust? The entire financial system is not transparent; what they want you to see is what you see. Who can be spared under inflation?
The above paragraph is very insightful. The opacity of financial projects is not suitable for selling financial products. Satoshi Nakamoto gave us two more methods: transparency and machine credit. Combined with the chainless community mechanism, there are conditions for financial decentralization. Financial e-commerce similar to Taobao can be opened. The chainless community is a tool to solve financial transparency and an organizational form to sell the “future.”
How to get the wool from the pig?
Let’s take insurance companies as an example. Insurance is a financial project and an enterprise that manages more than one million “employees,” which is the most comparable. The turnover of grassroots insurance agents is huge because new insurance agents are unpaid. There are many insurance categories, and some insurance projects can give insurance agents commissions of up to 30% of the insurance amount. Generally speaking, long-term return projects, such as financial management projects, do not have such high commission benefits in the first year, but giving 10% of the insurance amount in the first year is a common way to motivate grassroots insurance agents, including the benefits offered to insurance agents’ upper lines, which is 15%-20%. The insurance company will take about 4 years to earn back this part of the money. You can only get 80% of the money if you redeem it that year. Insurance companies need the connections and explanations of insurance agents. With new insurance agents, there are new connections. Although there are a large number of eliminations, the connections remain. The insurance agent’s connections, credibility, and business level determine his performance. Connections are the group leader’s ability, and explanations are the mentor’s ability. It is difficult for grassroots insurance agents to have this ability without long-term training, which leads to a high turnover rate. Insurance companies do not advertise and rely on this turnover rate to screen out suitable insurance agents.
The chainless community is a promising channel. With group owners and big Vs, it can completely replace insurance agents’ functions at all levels. Unlike Ethereum’s reliance on handling fees for profits, this innovative approach can generate profits through the chainless general community, offering a bright future for finance and cryptocurrency.
In short
Using Satoshi Nakamoto’s transparent thinking and community form challenges the opaque black box of finance. Please refer to Chapters 2 and 3 of the chainless white paper for details.
The chainless platform’s business model is one where the wool comes from the “pig + sheep.” It plays the transparency and credibility of the cryptocurrency platform and combines the achievements of Web2 in social networking. A good product must combine predecessors’ advantages and hit the market’s pain points. Chainless Transparent Centralization is such a platform.
Readers who do not understand the community can read “What Satoshi did not think of, did not say…” Series 4: The cryptocurrency community has a long way to go (chainless.hk).
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