Crypto-economic protocols that incentivize people to build real-world infrastructure
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Blockchain technology scales real world infrastructure faster and more cost-effectively by rewarding contributors with crypto tokens and ownership. Hivemapper has been called “the Helium for maps.” What are other Helium-like crypto-economic protocols?
Let’s take a look at other innovative companies using crypto-incentives to bridge the physical and digital worlds.
Map, walk, host, and share to earn
The Hivemapper Network rewards its contributors with HONEY crypto for mapping with its crypto miner dashcam. Sweatcoin is a free app that rewards users for their daily steps with a new-generation currency they can spend on interesting products, donate to charity or convert into crypto. Stepn is a Web 3 lifestyle app with social-fi and game-fi elements and rewards users for walking.Sia lets users earn for sharing their underutilized hard drive capacity. Skynet is an open protocol for hosting data and web applications on the decentralized web using Sia. The Golem Network lets users earn for providing computing resources and fosters a global group of creators building ambitious software solutions. Filecoin is a blockchain-based decentralized storage network that is built from an ecosystem of service providers compensated through cryptocurrency ($FIL).
What key benefits do crypto-economic protocols unlock?
According to Tushar Jain, Managing Partner, Multicoin Capital, crypto-economic protocols unlock 5 key benefits: Rapid scale, credible neutrality, collective ownership, frictionless payments, and integration with DeFi rails.
Here are some reasons why we’re building Hivemapper on the blockchain:
- Distributed ownership means the people who help build the map own part of the map. Waze was built by people like you and me, but all the value accrued to Waze employees and investors when it was sold to Google for $1B.
- When you earn HONEY tokens for contributing to the map that represents ownership in the global map. The global map is critical digital infrastructure, and you build ownership in this asset by contributing to it using the Hivemapper Dashcam.
- Distributing ownership must be done in a transparent, and immutable manner. If contributor ‘A’ collected data covering 1,000 map tiles there are validations to: A. Ensure that this data is authentic and B. Determine the exact amount of HONEY tokens earned.
- If data validation and token attribution are done in a black box controlled by a private company, nobody will trust it. It needs to be done in an open and transparent way that is not controlled by a single entity.
- Once the network has determined that the Contributor ‘A’ earned 100 HONEY tokens for providing map coverage for 1,000 map tiles then this ownership stake in the global map cannot be altered — this fact needs to be immutable.
- Some view blockchain technology from the prism of their current tribal affiliation. Some love it, others despise it. We don’t bother with that. We view blockchain technology from the lens of a means to an end. Can it help us scale a global map owned by its contributors?
- In our view blockchain technology is ideal for distributing ownership in the global map built by contributors in a transparent and decentralized way and then ensuring that one’s ownership position in the map is immutable.
Note: The numbers in this list are provided as an example only and don’t represent actual token earnings.
Seeding a new Blockchain-Crypto Era
Web3 companies like Helium, Stepn, are seeding a new blockchain cyrpto era. Whether you like to provide wireless coverage or mapping, there’s a Web3 company for everyone. Join the movement.
Hivemapper Dashcam pre-order sale ends at midnight tomorrow! Pre-order today.
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