The Token Economy: A new concept—token economics—is emerging. It encapsulates the idea that we can embed into digital tokens (“programmable” forms of money) a way to steer communities toward desired common outcomes (e.g., communities where people can earn money if their local influence among family and friends delivers sales to their favorite local brands).
Specifically, in the case of retail payments, Token Economics allows us to move payment systems away from banking and into technology and social networking.
The great thing about creating a new digital token for local stores like Vibecoin is that you can build it to address gaps in the current payment ecosystem (e.g., the ability to make micropayments AND the ability for the local business to pay/reward their customers for certain performance measures):
1. Your Customers Pay You: You customers can pay you with Vibecoin and your brand will incur zero-transaction fees, and
2. You Pay Your Customers: You can choose Vibecoin to reward your customers when they recommend your brand and their recommendations generate a sale for your business.
If you’re able to receive payments from customers with QR Codes, then you can also reward those same customers when they provide word-of-mouth referrals that lead to a sale.
Place a QR Code on your post and simply scan it and reward your customer with Vibecoin when your post is presented at purchase by someone referred to you by your customer.
When people market to each other, magic happens
You pay existing customers to market to people they know.
Local payments and marketing made easy with QR Codes.