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RE: SteemFest4: Steem as a platform for business

in #waivio2 years ago (edited)

Really looking forward for this project to kick off smoothly!

I have been also trying to think of a way for SME to join into steem.

Coupons may be kind of out dated but I still think it can be tweaked for special rates for Steemians along the way so that rewards can be recycled back to the restaurants and then reissued to new (or recurrent) reviewers.

What do you think?

(I need to relisten to your presentation again haha)

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The Waivio platform can be used for many different businesses, small and large. We decided to focus on restaurants because today, one in ten people dine out every day, which means that even a small number of active users can produce a large number of reviews. So we don't need to wait for mass adoption to start this business.

With regard to coupons versus rewards - indeed, people want flexibility to use their rewards and STEEM (in contrast to discounts) can be converted to cash, used in the system and perhaps even used as a payment directly at restaurants.

Yes indeed. I got to really check out the Waivio platform later and see if it can be applied.
So far for Asean countries, online purchase is VERY POPULAR especially with the 9.9 / 10.10 / 11.11 / 12.12 cyber sales. The most direct part to get these business entities onboard is to adopt the concept as a Steemian.

Just like in Malaysia we do have a Steemian that owns a food truck who would still be happy to support another Steemian by accepting payment in STEEM.

But because of the volatile price in Steem, maybe we need to look into a way that it leverages for both patron and business owner.

This is something I have been scratching my head trying to find a middle ground.

Initially, the intention was to use SBDs for liquid payments of rewards, but as pointed out by @blocktrades, @arcange and others, SBD liquidity is limited. So it might be better to use STEEM and adjust rewards amounts using current exchange rates.

Yes, totally agree with that.
SBD is not the way to apply the mass adoption for the future.