Incentives, incentives, incentives. If you have a start-up ecurrency and you want to get the public aware of it and using it, how do you go about it? Incentives! The iPro currency is doing exactly that. Of the fifteen billion coins that have been pre-mined (with more coming), seventy five percent of them have been escrowed and will only be released to the buying public through merchants that earn the rights to distribute them as shopping rewards. This is what the founding company calls, “the mass adoption phase” of its plan.
Whatever they want to call it, I will be glad to shop at websites, like Amazon, online and receive Pro currency as a rebate reward on top of whatever points my credit card already gives me (the app should become available this month or next). And retailers selling through Amazon, or on their own, will be glad to improve their skills through online training in order to earn the escrowed coins to offer and as well attain advertising and ranking in order to attract more sales.
The effect of all this is that once iPro Currency is mined in its blockchain, it is not released to the wild but instead is forged by the efforts of merchants to sell and the activity of consumers in making their purchases. This is a process ingeniously designed to bond the Pro ecurrency to the existing economy as the Pro emerges through the processes of merchant training, advertising, sales, and of satisfied customers and public word of mouth. The intent is to embed Pro currency into the process of commerce.
This is how you get cryptocurrency from the ground floor niche of technophiles and nerds and into the mainstream. And if it sounds like a good idea and a workable business plan (as it does to me), there’s more.