Reputation Pays: How Blockchain Is Monetizing Human Ability

Generating value is the key concept sustaining the explosion of Blockchain offerings in 2017.

BMCHAIN, a platform aiming to monetize a user’s experience and skills, has launched sales of its integrated token to take paid crowd media beyond the likes of Steemit and Golos.

Businesses, investors, users and regulators are all acutely aware of the potential value hidden in a Blockchain product or service, and monetizing this value is creating a multi-billion-dollar industry overnight.
While technically anyone can buy into an ICO scheme (subject to legal approval), it is not always possible. Limited availability has resulted in huge shares of tokens being bought by a comparatively small number of investors, who then have overwhelming control of the market.

As such, for successful businesses looking for longevity, reputation is everything. As witnessed with ICOs from companies such as Civic, all-inclusiveness and distribution are essential to launching a well-balanced Blockchain business.

How else can a project last for years by leveraging community involvement? This question is leading to the rise of ambitious solutions looking to overtake even their non-Blockchain, non-revenue-sharing equivalents.

First to prove the model worked was Steemit, which since last year has paid users for submitting content based on its point-based ‘reputation.’
The specter of security and integrity
The enthusiasm behind Blockchain means BMCHAIN is unlikely to fall short of interested customers. As with any grandiose launch, however, there are risks.

As Steemit proved soon after its launch, even the most watertight security can be picked apart, leading to loss of funds, private information and - essentially - reputation.

“The most important property of the Blockchain technology destined for use on the platform is the immutability of stored information, which allows for immediate and accurate assessment of risks associated with user transactions, as well as implementing effective automatic arbitration with minimal time and financial costs,” Moiseyev continues.