Welcome to Digital Security Frontier Vision: The Voice of the Core Builders from Global Digital Security Industry #32
This week we are welcoming Adi Sideman. Adi is Props Co-founder and a member of the Props Foundation Public Benefit Corporation Board. He is also a pioneer in participatory media, an entrepreneur with more than 20 years of experience creating media apps and companies.
1. How does Props, as a Loyalty Points Tokenization platform, combine blockchain technology and integral reward system?
By sharing a digital asset that value of which correlates to the demand for its utility and the growth of the business — the business is sharing a financial upside with its contributing users. That’s a very powerful incentive that goes beyond traditional Loyalty Points and is feasible through blockchain technology.
2. Why did Props choose App integral reward as its scenario for the blockchain token economy?
Business models will be changing, to enable communities of users and power users to help businesses bootstrap and flourish. That is what blockchain and token technologies will ultimately bring about. As not all apps will be retrofitting to reboot their business as a pure blockchain business — there will be demand to create new capital assets for apps to be used to partner with its users and share value with them through it. We believe that this new asset class — will resemble traditional loyalty programs. These programs are closely tied into users’ in app behavior and as such, are most effective being an integral part of the user experience within each app.
3. In China, many people are interested in Props’ compliance process, why did Props choose the RegA+ clause? What new opportunities does RegA+ registration bring to Props?
Props’ go to market approach is to enable web 2.0 businesses to leverage the benefits of blockchain and token technology to better align with their users and improve traditional business KPIs. As our center of gravity is in the US, Reg A+ qualification from the US government enables us to do business with established US companies and not just with Dapps. The apps with existing user bases are a great way to get adoption. They are risk averse and would not want to deal with regulatory risks. So the Reg A+ helps adoption in a big way.
4. Are there any restrictions on the trading platforms and people who can hold tokens under the RegA+ terms?
Props are fully transferable and any user, (accredited or not,) can earn, transfer, buy and sell Props. With regards to centralized trading in the US: the SEC has not licensed exchanges to facilitate trading to regulated tokens yet. We expect that in the next year or so. In the meantime, we look forward to Props being listed on international exchanges.
5. What are the new developments and achievements of the Props Ecosystem so far?
Props is used by over 6 Million users, across a half dozen apps. And the apps that deploy Props loyalty tokens experience significant business results. The most recent case study on Listia, a marketplace for buyers and sellers, was just published. Other case studies are here.
As a next stage, we are working to enable governance and staking by token holders.
6. What is Props’ token economic model? How Props tokens are allocated to different applications？
Props is capitalized by the aggregate utility value it enables across participating apps. Apps mine Props tokens based on the utility value and demand value they generate for the Props network. Once the tokens are awarded to an app — on a daily basis — the app remits portions to its users as it sees fit.
7. We understand that Props is currently promoting an “ownership economy”, can you give us a brief introduction?
The power of a community to bootstrap a business is going to be a hallmark of how new businesses will emerge over the next decade. The app that will unseat facebook, or YouTube, will need to leverage technical, social and business innovations. We believe that blockchain and tokenization enables businesses to harness the “Ownership Economy”. To mathematically and scientifically reward any contribution to its growth, and by that, harness users/ owners to achieve growth, governance and fair and sustainable network.
8. How does Props value the Asian market? What is the plan?
We are encouraged by blockchain awareness of the Asian market. We plan to continue our stream of webinars, weekly blogs of our updates and more. This market is a very important piece of our global community and we look forward to building. We have a dedicated team in this market and believe being in the pulse of the market is beneficial for both our project and our supporters.
- Check Chinese version of this interview here
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