Who’s Afraid of the Big Bad Google Ban?
Actually, now there’s a better technology out there to get your message across, and, as usual, first movers will gain a huge advantage.
We all know blockchain started out as technology’s “bad boy”, with the cypherpunk movement and bitcoin currency. But today, many blockchain-based start-ups offer truly creative technical solutions to some of the most pressing challenges of our times. To ensure the funding required to continue their development, many of these start-ups are launching what are known as Initial Coin Offerings (ICOs) to raise operating capital.
Yet even today, ICOs exist in an ecosystem with very few checks and balances, attracting scammers of all sorts. We all heard about scams designed to make money specifically off aspirational investors who want in on the blockchain gold-rush but lack basic understanding of the technology. Unfortunately, those scams continue to give blockchain and ICOs a bad name.
Recently, nearly all of the most powerful online advertising platforms, including Facebook and Google, decided to ban all cryptocurrency-related advertising. This means that if you happen to have an innovative blockchain-based technology that you’d like to bring to the public’s attention to raise investment, well… tough luck.
You’d now have to deal not only with potential token purchasers’ mistrust, but also with a lack of channels for reaching those early adopters in the first place. So what do most start-ups do? most resort to networking, word-of-mouth and referrals to spread their message.
That’s not bad. It solves the trust part of the problem and in a context where trust is so low, that’s really important. Research shows that people trust referrals more than any other form of information, and word of mouth is the primary factor behind 20 to 50 percent of all purchasing decisions. So referrals are a good direction.
But counting on direct referrals alone will only get you so far. Referrals have a limited reach without the help of online platforms and social networks. The point is, if you want to build a strong global community of early contributors , you’ll need the help of a powerful online tool to spread your message effectively across the digital space.
That’s where 2key’s solution comes into play.
2key is Your Gini in a Bottle!
2key’s new Global Referral Network (GRN) offers the perfect solution for ICOs, combining the trust factor offered by referrals with the reach of online social networks.
What is the GRN? Well, in practice, it’s a decentralized platform that gives you a way to incentivise referrals-sharing about your project, without entry barriers or fine-print requirements. The genius of this platform is that it is built on the basis of 2key’s unique technological innovation called multi-step tracking.
2key’s multi-step tracking seamlessly embeds simple web-links with ‘memory’ and enables them to act as smart-contracts. Technically, this allows the links themselves to track and record each and every person who shares them along referral chains. Whenever a link achieves a result (such as, for example, someone leaving their details, joining a telegram group or purchasing tokens), it transforms into a smart-contract and automatically rewards each person along the successful referral chain.
The practical implication of this technology is that influencers and recommenders have full, automatic guarantee that they will be directly rewarded if they help get your message to actual token purchasers and contributors. Instead of your advertising budget going to a central online robotic platform, your budget will be distributed directly to your existing community of supporters, who are incentivised to proactively target the message towards the right people to organically grow your community.
Purchasers, on the other hand, know that they’re receiving information from sources they know and trust. Another unique feature of the GRN is an innovative incentive model for referrers, based on a fusion of game theory and AI, which either rewards or ‘penalizes’ participants according to a reputation score that they develop over time. This model makes sure that referrals and recommendations are relevant and reliable (You can read more about it our incentive-model abstract or in our litepaper).
The Global Referral Network offers both the advantage of trust in referrals and the advantage of global reach produced by online networks. Soon you’ll be able to simply join in, tell about your technology in a few words, define your goal and budget and then… simply press a button. The GRN will take care of spreading your message and the money will go directly to those who effectively contributed to the distribution of the information, making the whole process easy and worthwhile for everyone.
Join Us Today, for a Better Tomorrow
We’re nearly there. Right now, we’re now working really hard to deliver the beta version of the GRN webapp and mobile apps, and we expect to roll out with initial support for other blockchain-based start-ups to run referral campaigns for their token presell events in the coming months.
If you’d like to help us achieve this vision, join our amazing telegram community of visionaries, pioneers and crypto-fans to help us achieve it!
PS. And If you’ve been wondering, then YES, we are already working to enable TGE campaigns using our protocol! if you’d like to join us or simply learn more feel free to contact us at: [email protected]
We’d love to hear from you!