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        • Today Bitcoin Price at $6,800 USD
        • Pandemic Is Changing BTC Usage in ‘Unexpected Ways’
        • Macropay on Alternative & local payment methods that are reshaping global e-commerce
        • Bank of America is preparing for a flood of Applications to Small-Business Loan
        • Microsoft might be the best tech stock in this market
        • US Airlines To Work Collectively, Consolidate Flights
        • Bank of America maintaining business continuity and protecting the bottom line
        • US long-term mortgage rates drop
        • Bitcoin Price Bulls have been rejected at $7,000
        • Stock Market: 4 Top Stock Trades for Wednesday: NVDA, AVGO, BAC, IQ
        • Stock Market April 2 – Edge Higher; Oil Surges, Bonds Fall, Dollar Rose
        • Chase bank will raise up to $10 billion
          • Bitcoin Price Simply Surged to $6,500 After Over 10% Weekend Crash
          • Today Bitcoin Price at $7,000: BTC Leaps to Retest $7,000
          • Bank of America agreed to allow 50,000 mortgage customers to defer payments
        • Bitcoin Price Prediction April: Three Key Causes Why BTC May Plunge Beneath $5,000
          • Roll up the Sleeves! American Airlines was down -10.34%
          • Mortgage calculator rates today April 2, 2020
          • Mortgage Calculator Small businesses: SB have ‘a million inquiries’ regarding check help loans
          • Bitcoin Price Today April 1 – Bitcoin Takes Tumble
            • With Bank of America card you can request a payment deferral online
              • Bank of America fields 150,000 installment deferral demands
            • Coronavirus – Travel Insurance no cover cancellations
              • Bank of America said it won’t cut any positions
          • Bitcoin Price Today April 2 – BTC rise to $6,700
          • Mortgage calculator rates today March 31, 2020
          • Bitcoin Price Momentum Sign Reverses, Bull Run Lastly Inbound?
          • Bitcoin Price Recovering After a Sharp Decline
          • Fintech News Airbnb – How hosts are fighting back against Covid-19 fallout
          • Market Stock Boeing – Challenging Times Ahead for Boeing Stock
        • Bank of America U.S. Minimum Hourly Wage Reaches $20
          • Bitcoin Price Bulls – is Forming a Bull Cross After Rallying to $6,500
          • P2P Crowdlending – Average Interest Rate 18%
          • $633 Million BTC Transferred For Simply $0.26 Payment
        • Prime ICO Advertising and marketing Companies
        • Bank of America will provide up to $250 million
        • Bank of America VC: You tend to do the wrong thing at the wrong time
          • Bitcoin Price Jump as Coronavirus Curve Begins to Flatten
            • Bitcoin Price Today April 3
            • Bitcoin Price Is Sometimes Bullish in Q2
            • Bitcoin Price Tumble Beneath $ 6,000
            • BTC Price Today 5 | April, 2020
            • Bitcoin Price and S&P 500 – Here’s how much bitcoin beat the Dow and S&P 500 in the first quarter
              • Today Bitcoin Price at $6,600
                • Bitcoin Price Bulls Reaches: “Live or Die”
                • BTC Price Today | 6 April 2020
          • Bank of America sees big year for Microsoft ahead
            • American Airlines coronavirus downgrade
              • Bitcoin Price Rejected $6,600
              • Bitcoin Price Trace It Will Fall to $ 5 K
              • BTC Price Today April 4
                • Stock Market Today 31 March, 2020
              • US Bank Raises $586M Against COVID-19
                • Bank of America’s Solid Liquidity to Help Covid-19 Crisis
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      • Mortgage Calculator – Students Benefits
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      • Mortgage Calculator Modification – What Is?
      • Mortgage Calculator Canada: Rates Are Rising
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        • Mortgage rates today, April 3, 2020 plus reviews
          • cmc currency details
            • cmc exchange details
              • Shortcodes
        • Microsoft Vulnerability: Hundreds of Microsoft Servers Contaminated By Crypto-Mining Botnet Since 2018
          • Cision PR Newswire
          • Coupons – Best websites
            • Aeromexico Rewards Chart
            • Get Avios Points Free
        • Today Bitcoin Price at $6,800 USD
        • Pandemic Is Changing BTC Usage in ‘Unexpected Ways’
        • Macropay on Alternative & local payment methods that are reshaping global e-commerce
        • Bank of America is preparing for a flood of Applications to Small-Business Loan
        • Microsoft might be the best tech stock in this market
        • US Airlines To Work Collectively, Consolidate Flights
        • Bank of America maintaining business continuity and protecting the bottom line
        • US long-term mortgage rates drop
        • Bitcoin Price Bulls have been rejected at $7,000
        • Stock Market: 4 Top Stock Trades for Wednesday: NVDA, AVGO, BAC, IQ
        • Stock Market April 2 – Edge Higher; Oil Surges, Bonds Fall, Dollar Rose
        • Chase bank will raise up to $10 billion
          • Bitcoin Price Simply Surged to $6,500 After Over 10% Weekend Crash
          • Today Bitcoin Price at $7,000: BTC Leaps to Retest $7,000
          • Bank of America agreed to allow 50,000 mortgage customers to defer payments
        • Bitcoin Price Prediction April: Three Key Causes Why BTC May Plunge Beneath $5,000
          • Roll up the Sleeves! American Airlines was down -10.34%
          • Mortgage calculator rates today April 2, 2020
          • Mortgage Calculator Small businesses: SB have ‘a million inquiries’ regarding check help loans
          • Bitcoin Price Today April 1 – Bitcoin Takes Tumble
            • With Bank of America card you can request a payment deferral online
              • Bank of America fields 150,000 installment deferral demands
            • Coronavirus – Travel Insurance no cover cancellations
              • Bank of America said it won’t cut any positions
          • Bitcoin Price Today April 2 – BTC rise to $6,700
          • Mortgage calculator rates today March 31, 2020
          • Bitcoin Price Momentum Sign Reverses, Bull Run Lastly Inbound?
          • Bitcoin Price Recovering After a Sharp Decline
          • Fintech News Airbnb – How hosts are fighting back against Covid-19 fallout
          • Market Stock Boeing – Challenging Times Ahead for Boeing Stock
        • Bank of America U.S. Minimum Hourly Wage Reaches $20
          • Bitcoin Price Bulls – is Forming a Bull Cross After Rallying to $6,500
          • P2P Crowdlending – Average Interest Rate 18%
          • $633 Million BTC Transferred For Simply $0.26 Payment
        • Prime ICO Advertising and marketing Companies
        • Bank of America will provide up to $250 million
        • Bank of America VC: You tend to do the wrong thing at the wrong time
          • Bitcoin Price Jump as Coronavirus Curve Begins to Flatten
            • Bitcoin Price Today April 3
            • Bitcoin Price Is Sometimes Bullish in Q2
            • Bitcoin Price Tumble Beneath $ 6,000
            • BTC Price Today 5 | April, 2020
            • Bitcoin Price and S&P 500 – Here’s how much bitcoin beat the Dow and S&P 500 in the first quarter
              • Today Bitcoin Price at $6,600
                • Bitcoin Price Bulls Reaches: “Live or Die”
                • BTC Price Today | 6 April 2020
          • Bank of America sees big year for Microsoft ahead
            • American Airlines coronavirus downgrade
              • Bitcoin Price Rejected $6,600
              • Bitcoin Price Trace It Will Fall to $ 5 K
              • BTC Price Today April 4
                • Stock Market Today 31 March, 2020
              • US Bank Raises $586M Against COVID-19
                • Bank of America’s Solid Liquidity to Help Covid-19 Crisis
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      • Best Online Savings Accounts of February 2020
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      • 6% cd rates – They Exists ?
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      • Best Credit Cards for Students 2020
      • Best Airline Credit Card 2020
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      • Best Rewards Credit Card 2020
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      • 11 Best Prepaid Debit Cards of 2020
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      • Lowe’s Credit Card
      • Get Revolut Card + £50
      • Qantas Credit Card
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      • How many credit cards should I have?
      • Is Discover Visa or Mastercard?
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      • Wells Fargo Propel – Review
      • Walmart Money Card – Review
      • Credit One Credit Card Review
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      • Travel credit card reviews 2020
      • Petal Credit Card Review
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      • Best Mortgage for Low Down Payment 2020
      • Best Mortgage Rates
      • Best VA Mortgage Lenders of 2020
      • Greatest On-line Mortgage Lenders
      • The Best Mortgage Lenders for First Time Home Buyers
    • Mortgage Calculators
      • Mortgage calculator rates today April 1, 2020
      • Mortgage Calculator – Students Benefits
      • Mortgage Calculator – Homeowners and renters Get Payment Relief
      • Calculator for mortgage to millennials
      • Mortgage Calculator Modification – What Is?
      • Mortgage Calculator Canada: Rates Are Rising
      • Mortgage Calculator Home – Is it time to repair your own home mortgage?
      • Mortgage Calculator
      • Mortgage Calculator Rates Today April 3
      • Mortgage Calculator Online
      • Mortgage Calculator Coronavirus: UK mortgage market goes into lockdown
    • Mortgage Guides
      • Lending
      • How Mortgage Forbearance Works Under CARES Act
      • Stimulus Check
    • Mortgage Companies
      • Nationstar Mortgage
      • Roundpoint Mortgage
      • Midland Mortgage
      • Simple Mortgage Calculator
      • Freedom Mortgage
      • SunTrust Mortgage
  • Commodities
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      • WTI Oil Prices
      • Brent Crude
      • Crude Oil
    • Agricultural Products
      • Corns
    • Livestock & Meat
      • Lean Hogs
    • Precious Metals
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      • Gold
        • Best Place to Buy Gold
        • Price of Gold
        • 5 Ways In order to Buy Gold
        • Gold Price Chart
        • Gold Futures
      • Silver
    • Industrial Metals
      • Copper
  • Insurtech
    • Insurtech “Best of…”
      • Best Life Insurance of 2020
      • The Best Renters Insurance Companies 2020
      • Best Pet Insurance Providers of 2020
      • Best Home Insurance Companies for 2020
      • Best Car Insurance Quotes Online
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Looter needs to indicate how Bitcoin micropayments beat ‘freemium’

Judie Simms by Judie Simms
May 6, 2020
in Bitcoin
0

Home » Looter needs to indicate how Bitcoin micropayments beat ‘freemium’

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The builders of “social fitness” app Looter are exhibiting how Bitcoin’s micropayment economic system can supply a substitute for the “freemium” model. It additionally employs a number of different Bitcoin options to show well being and health into an actual cash sport, letting its customers earn cash as an alternative of simply spending it.

Twetch has proven the way it’s attainable to show social media capabilities—e.g. likes, follows and reposts—into revenue for its customers. Reputation and high quality turns into a should when there’s cash to be made. Looter does one thing related with the health app idea. Relatively than pay for freemium-type subscriptions the place customers pay extra to unlock larger characteristic grades, customers would pay others and earn cash with micropayments to others of their community based mostly on health targets and achievements.

Customers may additionally promote their health and GPS knowledge to any firm wanting to make use of it—insurance coverage firms, well being researchers, sportswear makers, and extra. They might appeal to sponsorship from spectators, increase funds from teams for themselves or charities, contribute to and/or win prize cash from competitors swimming pools, and even gamble on race outcomes.

Bitcoin options add new dimension to health apps

Bitcoin’s conditional funds add new challenges and incentives. A consumer may commit funds to “loot boxes” marked by GPS coordinates alongside a route, and obtain the funds once they attain these milestones (or go away them for others). Transaction locktime options would permit funds to be returned if not collected—or ship them elsewhere. For instance, in the event you didn’t obtain sure targets by a sure time, the cash goes to a charity you want (or for added motivation, one you don’t). Looter the corporate would generate income by charging a small fee on transactions, as different Bitcoin apps do.

Founder Ben Adams is a daily coach and health app consumer, and got here up with the concept for Looter after years of expertise with present social health apps. His brother Angus pitched Looter on the second Bitcoin Affiliation BSV Enterprise Pitch Day occasion, a part of the CoinGeek London convention in February 2020, as Ben himself was booked to compete in an extremely marathon on the identical time. Throughout his presentation, Angus mentioned:

Likes & feedback present the dopamine hit that hold customers coming again for extra. Elevated engagement on social health apps has been proven to make individuals happier, versus sadder on Fb.

A lot of Looter remains to be within the conceptual stage however Adams mentioned issues have progressed since CoinGeek London 2020, regardless of the continued world upheaval. Learn our interview under to search out out extra about Looter and the way its founders got here to be concerned in BSV.

What previous experiences (with private health, health apps, and cellular funds) led you to develop the Looter idea?

Ben Adams: I grew up in a household the place train was all the time one thing that was valued extremely as a part of a every day routine. The important thing that was instilled in myself and my siblings by our dad and mom was that health and train opened up doorways to a large number of adventures that we may have within the outdoor which was actually what formed how I view health at present and why I nonetheless have interaction in it so often.

Strava then (which I’ve been an avid consumer since 2016) was the right software and actually is nice for participating with family and friends ({and professional} athletes) in your train actions.

It was fairly simple then for me and Angus (who I mentioned the idea with quite a bit) to see how Looter may enhance massively on the present social health apps. Though on face value Strava (and the others) are nice apps they’ve a number of large flaws, considered one of these is that they function a “freemium” model which isn’t in a position to generate income from day one. Due to this, all social health functions harass customers with limitless promoting, unrelenting strain to enroll to a month-to-month subscription and the profitisation of private knowledge. BSV solves this.

If Looter relies on funds between customers, how does your organization earn revenue from the system?

Ben Adams: For instance I may connect milestones to a route that you just ceaselessly run based mostly on time targets. I can allocate a specific amount of value to every milestone and in the event you obtain the time goal the milestone can be unlocked and the funds despatched to your pockets. Every time this occurs Looter will take $0.01 of the transaction value. There may be quite a few variations on this and is one thing that can be refined over time.

There are additionally a number of different choices to generate additional income on issues comparable to kudos been given or feedback being left on a consumer’s exercise. These could or might not be issues that we take a look at additional down the monitor.

When did you resolve to make use of Bitcoin SV (BSV) because the fee system and what appealed to you most about BSV?

Ben Adams: Myself and my brother have been concerned in Bitcoin since 2011 and have adopted the lifecycle because it transitioned into BCH after which BSV with all of the craziness in between. Whenever you sit down and logically analyse the basics between the 3x Bitcoins you realise fairly rapidly that BSV is the one choice that is smart—it’s the one choice the place the economics work. Inside these economics an important factor that BSV presents is the flexibility to scale, with out scale the entire ecosystem will ultimately crumble.

looter-wants-to-show-how-bitcoin-micropayments-beat-freemium

Due to this it turned a very simple determination to construct on prime of BSV. Alongside scale, Looter depends totally on the standard of the ecosystem to assist instantaneous micropayments between customers which is once more one thing that not one of the different digital currencies supply.

It might be flawed of me to not point out HandCash right here as properly. HandCash is creating an addition to their enterprise model known as Join. Looter can be constructed on prime of HandCash Join’s pockets service which can make our lives 100x simpler for the under causes:

  • Sustaining a pockets could be very onerous
  • Scaling a pockets to deal with multitudes of micro transactions is tough
  • Making the pockets consumer pleasant and fool proof is tough
  • Managing logins and consumer verifications to adjust to KYC legal guidelines is tough
  • Linking to exterior cash suppliers to assist top-ups with fiat is tough

All of this complexity may be outsourced to HandCash, it’s a sport changer and can break down the boundaries not only for Looter however different functions creating on BSV as properly.

You (properly, Angus) confirmed a growth roadmap at CoinGeek London. How has that been affected by the present world surroundings?

Ben Adams: Fortunately COVID has not had an excessive amount of of an impact on our growth roadmap. We’re nonetheless within the early levels of growth, very near ending our POC (simply ready on HandCash to finish their SDK for Join). If something it has solely had a constructive impact on the technical growth as now we have had extra time at house with much less distractions!

Beneath screenshot exhibits the profitable implementation of milestones (inexperienced means the milestone was achieved, yellow means it wasn’t). The final piece of the puzzle is to connect value to the milestones which we’ll obtain as soon as HandCash Join is full.

CG: In any other case, how was the CoinGeek London expertise? Did the pitch result in additional discussions or alternatives?

Ben Adams: As you understand I wasn’t truly there however I did watch a whole lot of it on-line. From what I noticed and from what Angus instructed me, it was nice. I believe the conferences are extremely essential and so they go an extended approach to professionalizing Bitcoin. There have been some good audio system on the CG London convention and you may see the engagement rising increasingly with individuals outdoors the digital forex bubble—this could solely be constructive going ahead.

I clearly watched Angus pitch Looter and particularly paid a whole lot of consideration to the opposite two pitches. I believed Angus did an excellent job and though I used to be jealous to not be there doing it myself it was very thrilling to see Looter offered at such a big occasion.

There have been loads of constructive feedback concerning the thought of Looter which is encouraging. It hasn’t led to any additional discussions or alternatives however I’m not stunned by this contemplating that on the time of the pitch Looter was actually simply an thought on paper with little or no product to truly present. We’re a lot additional progressed now and as soon as HandCash Join is up and operating for testing on the finish of this month we can implement the final piece of the puzzle to having a profitable POC. At this level we will begin onboarding just a few customers to additional check the product and possibly then we’d have the ability to have interaction additional with potential buyers.

New to Bitcoin? Try CoinGeek’s Bitcoin for Newbies part, the last word useful resource information to study extra about Bitcoin—as initially envisioned by Satoshi Nakamoto—and blockchain.

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