I'm sure this has been talked about before, but here's a business idea:
Money Flows Towards What People Find Valubale
As I've touched on before, Hive generates & allocates capital based on the will of the network. We naturally direct our will towards what we find valuable. So, in a sense, Hive is tokenized value. I think this is the future.
Our current economic system also manages to allocate capital based on value, albeit imperfectly.
If enough people find a company valuable, and use its products, then that company will generate revenue — either in the form of sales or ads.
Even if that company loses money, there is a large ecosystem, both public and private, to prop it up in the hopes that one day it'll be profitable.
Now imagine how easier that would be if companies generated revenue directly from how much people enjoyed their product. Imagine the new types of companies that could thrive that way.
That's where Hive comes in
Hive Powered Reviews
It could work on pre-existing review platforms (e.g. Yelp & Google Reviews) with a browser extension. Creating a new review platform is swiming against the current. Why do that when you can simply piggy-back?
A Hive post for the review page is generated every 7 days to replace their previous post. When a Hive user leaves a 5 starred review, the first 2.5 stars count as a negative vote of decreasing percentage and the last 2.5 stars count as a positive vote of increasing percentage.
The go-to-market would be to to search for where the most high-stake HP holders are located, delegate them even more, coordinate with them to leave reviews to target companies, let the wallets of these companies generate sizable revenue, and give the wallet to them saying 'Here's your new savings account'.
There is currently a project on Hive called Dining.Gifts, by user @grampo, that does something vaguely similar by working with restaurants to pay people to make quality reviews.
That is a great idea. I'd happily try a place out for a bit of money, and a few dollars is very cheap for a quality review from the perspective of a restaurant. I like how a user doesn't need to know anything about Hive to get started. Maybe with a bit of De-Fi, you could reward the reviewers with regular fiat so users never need to know they're working with blockchain. I'm sure the staking nature of Hive opens up a lot fo possibilities along that end.
I'm happy to chat if you ever want to have a jam session, Grampo!
Though there is still currently no project quite like what I'm proposing. Maybe this kind of thing will only work once Hive gains a greater market foothold. Only time will tell ⚡️
#decentralized-internet
Thanks to @nazbol for helping me come up with this idea. Your project sounds crazy, but we had a fun conversation!
And shoutout to @acidyo for bringing @waivo and Dining.Gifts to my attention; as always, willing to lend an ear and give a push in the right direction. If you were running for Witness, you'd have my vote.
Reach out at Autocrat#6207 on Discord