Author Topic: What real world problems can BitShares alleviate?  (Read 1115 times)

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Offline Brekyrself

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What real world problems can BitShares alleviate?
« on: October 20, 2016, 03:54:07 am »
As [member=6]Stan[/member] would say, you need to think bigger!  Rather you like or dislike Steem, it is an example of blockchain tech attempting to branch off into the real world.  For a blockchain to succeed, we need to look for issues in the real world that can be solved by blockchain technology.  At the same time however a blockchain is not the best solution to every problem!


First real world problem in which I see BitShares can alleviate while also bringing a substantial amount of new users into the ecosystem.


Monetizing Massively multiplayer online role-playing games

These extremely popular world wide games have a cash flow problem which I believe can be solved by BitShares.  Basically the current model for a MMORPG is to:

1.  Charge a price for the base game
2.  Charge a monthly subscription fee.
3.  Offer "credits" for in game purchases (transaction flows through company)  ie 500 credits for $50

Item's 1 and 2 are simple where as item 3 becomes very complicated and controversial however are required as these games carry massive on going development costs.


Enter BitShares MMORPG

BitShares can provide these companies with a built in revenue stream.  I will try to outline a basic example how this can work.

The most basic of in game economy's consist of such stores of values:  Platinum, Gold, Silver, Copper.  These can easily be added as a UIA to the BitShares dex for example gamename_Gold vs BitGold.  Each game will have separate markets, naming could be Everquest_Gold vs BitGold for example.

Cash flow 1:
This solves part of line item 3 above where the game company no longer will need to process credit card transactions for in game credits.  The blockchain will handle this and they can also charge a fee for these trades.

Cash flow 2:
Once a user purchases some Everquest_Gold with their BitGold they are now ready to spend it within the game's marketplace.  Most of these games have dedicated market places where users buy and sell in game items.  Once again this economy is now running on BitShares and each users in game transactions will generate a fee.  User ABC bought item xyz for 7 Everquest_gold.  This is simply a transfer thus a fee will go to the game company.  Multiple this fee by the thousands and thousands of players constantly buying/selling items with each other and this becomes a real cash cow.

Cash flow 3:
This can also work in reverse if a user wants to liquidate their in game assets.  They can simply trade Everquest_gold > BitGold.  Once again a market trade and transaction fee going to the game company.

Cash flow 4:
Since BitShares provides a real $ outlet for the company, monthly subscriptions can now be paid with Everquest_Gold that the user earned while playing the game!  The company can simply convert this into any FIAT via a gateway such as OpenLedger.


The above cash flows are the absolute simplest of idea's that connect real and virtual game worlds.  Obviously developers can run with this idea and incorporate more areas where fee's can be administered.

Tying this together with BitShares will require some coordination such as when a user creates a character, a BitShares wallet for them following the naming scheme above is also created.  gamename_username.  The game company would need to run a host just as OpenLedger does today to pay for these registrations.


Anyone know any game company executives?

Offline EstefanTT

Re: What real world problems can BitShares alleviate?
« Reply #1 on: October 20, 2016, 04:22:51 pm »
Do you have heard about PEERPLAYS ?

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Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline Brekyrself

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Re: What real world problems can BitShares alleviate?
« Reply #2 on: October 20, 2016, 06:08:12 pm »
Do you have heard about PEERPLAYS ?

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I am familiar with Peerplays.  My posting outlines an idea that companies can take advantage of right now with the current BitShares software.

Offline EstefanTT

Re: What real world problems can BitShares alleviate?
« Reply #3 on: October 20, 2016, 06:16:23 pm »
Off course !

I thought you didn't know about Peerplay.

Maybe peerplay, when launched, will be more suited for a gaming company. Or maybe a combination of both plateforms.

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Bit20, the cryptocurrency index fund http://www.bittwenty.com
(BitShares French ConneXion - www.bitsharesfcx.com)

Offline Chronos

Re: What real world problems can BitShares alleviate?
« Reply #4 on: October 20, 2016, 06:26:56 pm »
I think one big real-world problem that Bitshares solves is the risk of exchange default for traders. As we've seen with Gox, Bitfinex, Cryptsy, and countless others, keeping money on an exchange is a huge risk for traders. Bitshares can significantly mitigate that risk.