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RE: Waivio proposal: Steem as a platform for business
So you are investing $900,000 USD and want SPS to put in 30% of it. It's great to see that you have put time and effort to develop a good plan. There will be competition and it's better to get things started early to gain a competitive advantage. Having more projects and businesses using STEEM is going to have some good compounding returns and create a good networking effect. You have my vote. As a DAO we should be willing to take some risks to get ahead in the market.
We have a dedicated DevOps team of 7 people working on the project since November 2018. And we have solid results to show for it.
The project concept was described in the whitepaper a year ago, but it was difficult to get support until people could see the product. In June 2019, we launched the MVP and now it is a production grade quality system with distributed CDN image servers and much more.
This is an open source project:
The Waivio platform is designed to function in a decentralized environment (several nodes operated by different owners). And each server will power a large number of enterprise applications (web hosting, attention trading, guides, etc.), creating a combined network effect (users, connections, content, rewards, tokens).
This dynamic will create strong and steady external demand for STEEM. For example, when a restaurant runs its rewards program on Waivio (by replacing coupons with rebates, where reviews with photos are used to confirm sales), they will purchase $1,000 to $3,000 per month worth of STEEM to pay customers for the reviews. And when users receive $5 to $8 (in STEEM/SBD) per qualifying post, it is very unlikely that they will cash-out all these rewards. In short, this creates very strong positive demand and will drive up the price of STEEM.
The platform will also provide a solid foundation for guides - independent agents who help restaurants in their region manage rewards programs. This is a very profitable business where guides receive 25% of the rewards they manage (commissions are collected in regular currency instead of STEEM).
We are very excited about the future of STEEM and this community.
This is really amazing work. I wish the whales would see these and vote for the proposal to get funded. I'm glad to see Waivio on STEEM.