When I first started using cryptocurrency, it seemed to me that creating your own token is something unrealistic and only available to very smart people. But a few years have passed and today, I can seriously talk about creating my own crypto currency, by any market participant.
And all this thanks to custom development from Symbol, with the built-in Mosaic function.
A little bit about Mosaic:
A mosaic could be a token, but it could also be a collection of more specialized assets such as reward points, shares of stock, signatures, status flags, votes or even other currencies.
Each mosaic has a unique identifier represented as a 64-bit unsigned integer and a set of configurable properties and flags that can be defined during the mosaic creation.
Description from here. Read the more detailed technical description of Mosaic
Looking at this, I have an interesting thought.
Now almost any business has high competition, the fight for the customer is very serious and many companies create loyalty programs to keep their customers.
Just imagine. The Symbol blockchain integrates into a large business, adjusts for this business and begins to function. In order not to separate your loyalty program, it also needs to be implemented in Symbol. But how to do that?
This is where the unique development of Mosaic, which allows you to create your own digital assets on the blockchain, can help us.
The company creates its own asset that rewards customers for any activity: product purchases, reviews in social networks, contests, etc. This asset is linked to the loyalty program and thus becomes valuable. By trading in the open market, users determine the value of this asset themselves.
The ideal solution for distributing such an asset is social mining from DAO Maker. After all, this way the company gets additional advertising, and the user is a valuable asset that they can not only sell, but also use.
A similar asset can also be used to sell products from the VIP or Exclusive category. For example, an exclusive bottle of wine from a famous winery can cost $10 000 + 100 000 — digital asset of this winery.
Thus, the economic value of such an asset will be obvious, because it is tied to a real business.
In fact, there are many ways to use Mosaic in loyalty programs. It all depends on the specifics of the business, the specification of products or services, and much more. These are just initial ideas that can help you think in the right direction.
Waiting for the launch of Symbol!
Perhaps soon I will also create my own asset))
