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How Mobilechain Will Benefit Mobile Users

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We created Mobilechain for one central purpose: to transform the mobile economy using blockchain technologies. Our team knows that without mobile users, the mobile economy wouldn’t exist. And we know that the mobile industry hasn’t necessarily evolved along with mobile consumer demands. Mobile consumers are demanding more from the businesses they interact with on the mobile devices and mobile consumers are demanding more control over their mobile experiences.

That’s why we’ve designed Mobilechain with mobile end users in mind.

Mobilechain Overview

Mobilechain will give mobile app developers the tools they need to add secure blockchain and cryptocurrency services into their apps with very little time and effort. To participate, all developers need to do is integrate the Mobilechain SDK. The SDK will allow app developers to easily add complex blockchain capabilities into their applications, even if they only have a minimal understanding of how the feature works on a technical level.

(For more about SDKs, check out our SDK explainer)

Mobilechain For Mobile Consumers

One of the core features of the Mobilechain platform will be the Mobilechain cryptowallet. The cryptowallet will be standardized across every app that uses the Mobilechain SDK. This wallet will give mobile users a secure place to store, manage, and access Mobilechain tokens directly in-app. Because the wallet will be embedded in every app with the Mobilechain SDK, you can access their currencies without needing to switch between your current app and a separate wallet apps. Mobile end users will be able encrypt their wallet with a master password, pin code, or fingerprint.

With Mobilechain tokens, users will be able to buy and sell virtual good as well as physical goods directly in app. App developers will also be able to reward users with Mobilechain tokens for in-app actions like posting content, referring a friend, watching an advertisement, sharing a post, and more!

Apps will have the capabilities to facilitate transactions with the Mobilechain token through Mobilechain smart contract templates. Smart contracts help people exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman.

Smart contracts can be viewed as a program that transfers an asset or currency only after validating certain conditions. If conditions are met, the asset or currency is sent to the designated recipient. If the conditions are not met, the asset or currency remains with the sender. In the meantime, the blockchain stores and replicates the transaction record which gives it security and immutability.

(For more on what blockchain is and how it works, check out our two-part explainer)

Mobilechain will build and provide ready-made templates for smart contracts that will be designed specifically for mobile apps. Developers will be able to import smart contract into their apps in minutes, opening up new crypto marketplaces for mobile users.

Through the Mobilechain platform, select brands will be able to create a branded cryptocurrency for their mobile communities. This way, consumers will be able to use the coins affiliated with their favorite brands within their favorite branded apps – and even in their favorite physical stores.

Joining The App Value Cycle

In the current mobile app economy, value is created within apps through advertising, data collection and in-app purchases – all actions made by the user. Despite this, the user is usually rewarded for any of this contribution.

For example, when a user watches a video ad that was paid for by an advertiser, any value created from that ad view is shared between the advertiser, the ad platform, and the app publisher. Occasionally, some value may go back to the user in the form of virtual currency but not as a tangible value that can be used elsewhere.

The Mobilechain platform will introduce a new way for end users and publishers to contribute to the blockchain community and become part of the value cycle: Mobilechain Community Monetization

Currently, Mobilechain will have two mechanisms that will reward users for their participation:

There will be two types of monetization integrations available via the Mobilechain SDK that will reward both mobile publishers and mobile end users. All services will need to be approved by the publisher and the end user before implementation.

  1. Token Airdrop

New decentralized apps (dApps) and other blockchain-based projects will be able to do a token airdrop to users that already have active cryptowallets in an app that is using the Mobilechain SDK.

Airdrops are efficient ways for the founders of new blockchain projects to bootstrap their communities through token giveaways. During an airdrop, mobile users will opt in to learn more about the new blockchain project and will get the opportunity to claim the new digital asset and transfer it to their wallets for use.

  1. Mobile Oracle for External Blockchain Projects

The Mobilechain Oracle for External Blockchain Projects will provide data and verification information services to external blockchains. To verify transactions, many smart contracts require a third-party service, or “oracle”, that provides the data needed to verify. The Mobilechain oracle for external projects will give the blockchain community access to location and proximity verification information when needed, giving mobile users the opportunity to leverage their user data in a way that tangibly benefits them.

Users that opt-in to contribute to the Oracle process will be rewarded with Mobilechain tokens.

Looking To The Future With Mobilechain

Through Mobilechain, app developers will be able to bridge the gap between the app developer community and the blockchain community. Once this bridge is built, mobile consumers will finally be able to carve out their piece of the mobile economy. We believe that blockchain technology can bring about a brand new era in mobile and we want mobile consumers to be a part of its development and future. With the tools we develop, we hope to give mobile consumers everything they need to truly get the most out of their mobile experiences.

Posted by Dana Cohen

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