How can you create an unique business in VIZ?

Some areas of business in VIZ are obvious and do not differ from income generation in other blockchains and digital ecosystems. These include exchange operations (purchase and sale of viz tokens), gateways for payment for goods and services with viz tokens, support for blockchain nodes with income from the issue, etc.

However, a truly unique and interesting business in VIZ using social capital can be built around creating applications that provide context for awards, and receiving beneficial payments from users of these applications. Let's try to decipher it.

Context of the award

In its simplest form , the interaction of people in VIZ is described by the phrase:

John rewarded Mike (that is, increased his social capital).

If we say it in more detail and correctly, it will turn out like this:

John ordered the blockchain to allocate a certain number of vizs from the issue and add them to Mike's social capital. Blockchain did it.

Why did John want to reward Mike? What did he reward for? In what situation did the reward arise? The answer to these questions is the context of the reward.

Maybe John read Mike's post on the social network and liked it. A post on a social network is the context of a reward.

Maybe John voted for Mike in the singing contest. The performance at the competition is the context of the award.

Perhaps John thanked Mike by writing "thank you" in response to his Telegram message. The correspondence in the Telegram chat is the context of the award.

In order for the award to take place, a certain application must work. Such an application can be a browser extension, a social network site, a bot in a messenger, a mobile application on a phone or any other program.

This program intercepts John's action (like, voice, thank you) in the appropriate context, translates it into a special command and sends it to the blockchain on behalf of John. Of course, John must first grant the application the right to act on his own behalf.

In our example with John and Mike, new elements appear:

John wrote «Thank you» in a comment to Mike's message in the group in the Telegram.

The bot connected to the group and to both Telegram accounts noticed this and formed a transaction in the VIZ blockchain, in which John's VIZ account orders to the blockchain to allocate a certain number of vizs from the issue and add them to the social capital of Mike's VIZ account. Blockchain did it.

An entrepreneur in VIZ just organizes the creation of applications such as this bot. That is, he finds the context of using social capital and offers users to connect their VIZ accounts to this context. There are a lot of situations in life when one person encourages or thanks another for something, which means that they can be translated into the VIZ language.

Applications can be multifunctional, that is, they work out several different contexts. For example, a plugin to a browser that is configured for dozens of sites, or a mobile application that reads any QR codes with awards (such QR code can be displayed on the TV screen, and on a badge of a waiter, and on a hairdresser's business card, so there are many variants of context). And there are also narrowly focused ones - only for one context. For example, a mobile dating application in which a positive swipe is accompanied by a reward to a potential partner.

Beneficial payments

The income of the application owner is formed from beneficial payments. The VIZ blockchain has a built-in reward sharing system: an order to the blockchain can be made so that the reward from John will automatically go to two addresses: part to Mike and part to the beneficiary, for example, the author of the application. The beneficiary can withdraw the received social capital into tokens and sell them, or use it for their own purposes directly in the VIZ.

So, let's turn to our heroes for the last time - with all the explanations:

John wrote «Thank you» in a comment to Mike's message in the group in the Telegram.

The bot connected to the group and to both Telegram accounts noticed this and formed a transaction in the VIZ blockchain, in which John's VIZ account orders to the blockchain to allocate a certain number of vizs from the issue and add 90% of them to the social capital of Mike's VIZ account, and 10% to the social capital of the bot's author. Blockchain did it.

If, with the development of the ecosystem and the growth of the token price, the average income from a transaction in such a service will be at least about 0.5 cents (in viz tokens), then it is enough for the service to connect several thousand active users to have an income of hundreds of dollars a day.

Business directions

Here are some examples of possible businesses using digital social capital, so that you have something to build on in your own search for the market:

• gateways to social networks and messengers. Connection of large channels, groups, chats, VIZ promotion among their users;
• dating services: interest in a potential partner (positive swipe or like) is supported by a VIZ award;
• plugins for popular CMS;
• loyalty programs for small businesses online and offline;
• organization of contests in which viewers vote for participants with VIZ awards;
• a website with user content and user likes;
• …try to come up with a dozen more options.

Ecosystem

The big advantage of a VIZ is the presence of permanent addresses, that is, user accounts. This means that the new application does not need to force users to create a 100500th login, people can connect to any application with their VIZ account.

At the same time, a properly organized application in some cases will not even know the private key, since the signing of transactions can take place directly in the user's browser (this mainly concerns websites or web applications). In other cases, it is enough for the application to know only a private simple key that does not give access to token transfers and other "financial" operations. Accordingly, the application owner has less responsibility for user data, and users themselves have more confidence in new applications.

After the accumulation of a critical mass of VIZ participants, a network effect will arise, which will lead to a rapid growth of the network. If a particular application has already become a "de facto standard" for old and new participants by this time, it will be in a winning position compared to new players in this market. Therefore, it is more profitable to create and debug an application in real conditions now, even if it does not bring a quick profit.

Startup support

In the VISPLUS Initiative, we are ready to help entrepreneurs in creating and developing a business in VIZ. We will advise you free of charge on the VIZ mechanism, tell you which areas of activity are the most promising, if necessary, delegate social capital to make it easier for you to start. On your part, we expect the ability to create services and attract users to them.

Contacts:

e-mail: vizplus@protonmail.com,

Telegram: for personal communication, public group.