Blockchain: Gamification and tokenization.

in LeoFinance2 years ago



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What is Gamification?



This is a term to cover a set of protocols that try to get people to act in a certain way. It is to try and get people within a group to act in the way that you would like them to. This can be done through a set of incentives for people who complete the actions that you would like and then get rewarded for it.

There are different levels of Gamification but for consumers the most common would be rewards apps and loyalty cards. If you buy a certain amount of products you will receive a voucher or free product. The company incentivizes you to use their cards, spend in their business and get rewarded for it. They are influencing your behavior as you are far more likely to shop in their business where you will receive something for it rather than a similar business where you know that you will not be rewarded for the same actions.

On social media there can be digital rewards such as badges or extra features. People will put in a lot of time and effort to your platform just to earn these achievements and log in a lot of time to do so. You can gamify their experience and get them to spend more time on the site than they would have otherwise.
Within cryptocurrency circles we often get tokens as a reward for our activities which gamifies the experience and gets us to use them more often.


What is Tokenization?


This is the process of converting an asset into a token and storing those tokens on a digital blockchain. This technology will have far reaching use cases across multiple industries. Due to the transparent and immutable nature of public blockchains they are ideal for storing digital assets and proof of ownership.

Tokenization can be a key part in gamifying the digital experience. Using blockchains we can give out tokens depending on user’s behaviors within a group of people. Blockchains will track all of this information and apply any tokens to a users account. Smart contracts can be used for distribution and reward the users that complete tasks for that group.


Real world use case.



We already experience Gamification in our daily lives from a young age.

Just think of the education system. You must attend to complete it. You need to complete it to receive a certification. You need that certification to progress in the jobs market. This incentivizes you to complete your education and add value to the system. This logic can be applied across any industry or part of life as we live through a series of incentives or disincentives to act in a certain way. The only real issue is who is providing the rules in which we operate on. This Gamification can be positive or negative depending on the views of the people making the rules.

When that view is negative we can see some countries become hard places to live as there is no incentive to act in a decent manner or government to disincentivize bad behavior. People are manipulated to ensure the people ruling get to hold their position.

When those views are positive we can see good ideas put before the people like a personal favorite where in most European countries where you can return empty cans and bottles for a small sum.

In places there is even a refill service rather than recycling as it is more cost effective. In certain shops there is a reverse vending machine where you can deposit your cans/ bottles and receive a small amount back. This can be used for your next case of beer and incentivizes you to recycle and help the environment.

From a blockchain perspective I will bring in a HIVE based community called eco-train. They have taken a similar concept and tokenized it through the HIVE blockchain. Their idea is very simple. By showing how you have helped the planet on their website or blogging community you will be rewarded with their HIVE based token called “ECO”.


https://ecovillages.io/



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This can be bought, sold, traded or staked to your wallet just like any other crypto and which gives you a say in their community. This token is backed by their business and bought back with profits made from their sustainable living ventures.

The benefits to this are incentivising people to help the planet for a small reward as well as creating free marketing for the eco teams efforts and business as they have a community of people creating content about their activities for the business.

They have a website, a business plan and a HIVE based community where people can follow their progress. They have a real life business of creating sustainable living projects and this tokenization could be considered as marketing costs but also ties into the business model at the same time while doing something good for the planet. CSR is never a bad thing.

They built a community around the business and this all ties into their brand as well as expanding their user base through gamification of their ideals.

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Everyday I come to k ow about a new community or tribe on this platform.
Sometime it’s confusing to me as I want to contribute to all of them and can not decide the starting point 🤣🤣
I love the idea, by a his tribe we can help the environment and also earn some tokens
Very clever
Thanks a lot for sharing

hi @niallon11 ,
it's a great idea that people do great things for the planet and receive a reward in the form of tokens, blockchain is a great tool that allows us to drive many projects using tokenization no doubt that soon more projects driven by blockchain tokenization.