There’s hundreds of use cases for tokens by consumers and consumer brands.
The challenge is that no one uses tokens, at least not yet. A very small percentage of consumers have used tokens from the blockchain and cryptocurrency sector and a very small percentage of brands have deployed them.
How do we jump start the use of token technology so that organizations and consumers can start to realize their benefits? I think we do that through the following:
- Identify easy and cost-effective ways for organizations to deploy tokens and which solve some immediate problems and create near-term opportunities;
- Piggyback off of existing habits so that it is easy for consumers to adopt token technology;
- Build in marketing so that tokens sell themselves through network effects;
- Incorporate new consumer habits to make the tech and the solutions standard practice;
- Identify a few different categories where consumers will be exposed to token tech so that the concentrated and repeated exposure builds awareness for the technology and helps consumers get comfortable with it.
I’ve have identified use cases that fit the above criteria and organized them under Tranche 1. These use cases apply to the outdoor and active lifestyle industry. If we can enable all three use cases at the same time, this could greatly assist in creating self-reinforcing momentum for growth of token tech.
A summary document on the initial uses cases is below. You can review that document, however a prerequisite and cornerstone to implementing these use cases, especially for brand manufacturers, is enabling product identification. You might start there first to understand why this is important and the more immediate problems this will solve.