1 Million Reddcoin Prize - UPDATED TO $200 USD (about 9M RDD)

Marketing and PR
#1

UPDATE: Extended until the 14th of Feb

Hello Reddheads

BraveNewCoin.com would like to offer 1 Million Reddcoins for the best Case-Study submitted for the use of Reddcoin in a business environment.

Here is the Criteria:

Objective:
Create a useful reference document which highlights how and why Reddcoin can be used in a commercial setting.

What the Business-Case should cover:

  1. Identify the technology/problem combination
    Actively seek the
    problems ReddCoin can solve,
    combining market research with
    technology intelligence.

  2. Identify the ‘Customer’ or 'Business Type’
    Find out who has a clear
    need for the technology, how much it
    will mean to them, how much it would cost to
    develop/integrate/rollout and the monetary,
    intellectual or social benefit this technology
    will bring to them.

  3. Understand the chosen customers’ needs.
    Move the emphasis away from
    marketing and find out who is really in
    the buying centre, as it may not always
    be the engineering or R&D department.
    It is important to write the Business Case
    with the decision makers in mind.

  4. Research and feedback.
    It will be critical to gain actual feedback
    from a relevant business type to
    ensure the business-case is palatable to
    real businesses needs. This market
    feedback component should aid point
    2 & 3 above in gaining actual data
    around costs and savings.

  5. Conclusion or 'Presenting the Business Case’
    By now, the problem has been
    explored in details, including the
    details of the market size the target business
    type operates in, the cost and consideration
    to implement, and the benefits of using Reddcoin.
    Therefore this section needs to summarize
    the above 4 steps in the form of recommendations
    for deployment, with all considerations from 1-4 in mind.

Target Industry/Business Type
The document should aim to outline a problem and present a comprehensive case for how how Reddcoin can offer a solution. There may be several use-cases, we do NOT want to see more than 1 Use-Case per Business-Case unless there is obvious synergy and the solution solves more than 1 problem for the target Business Type.

Format:
How not to present your report: http://www.itpro.co.uk/mobile/21581/google-glass-10-use-cases-for-wearable-technology.
We will keep the format open to your interpretation of the term ‘professional business case’: but we do not want to see a blog style dump of words on a page.

Deadline: 1st Feb 2015
Two weeks should be more than enough to put together a 4-8 page business case.
Please feel free to use any charts, references, attached supplementing documents etc.
The Prize will be issues on the 3rd of Feb.

Submissions:
Please create a PDF and email to contactbravenewcoin.com

Extra Reddcoin:
In the event that we receive a few HIGH QUALITY submission, we will reserve a further 2 Million Reddcoins, for this competition. This is not a 2nd or 3rd place prize.
This is for the purpose of ensuring submitters motivation - It’s a bit of work - hence the prize size.
So in the event that we receive say 5 high-quality submissions and they offer different use-cases to each other, the best 3, will receive 1 million each.
In the event we receive 10 submissions not to the quality we are after, the 1 best of these will still receive 1 million.

This will be judged by Fran Strajnar, CEO and Founder of Techemy Ltd (which operates Bravenewcoin.com & bitcoin.info). He is experienced at creating Business-Cases for Technology use and came up with this competition for us to present to you.

If you have any questions, please place them here and we will endeavor to reply in a timely manner.

Thank you for your interest.

~ Toad
Content Manager
Techemy Ltd
http://bravenewcoin.com

#2

Techemy This is great! There are so many real life uses for reddcoin beyond tipping online and showing your digital support. The BIGGEST obstacle (IMHO) is that we’re trying to go from the bottom up. The customers are trying to push businesses to use something new, which is fine. I have no qualms about trying to introduce new, useful, economically feasible solutions to business problems. The outlying problem though is that the businesses have no place to use digital currencies. If I wanted the local pizza place to use reddcoin as a financial instrument, they would immediately convert it to cash, because their suppliers don’t accept digital currencies.

On the other hand, digital services, such as Amazon, could accept reddcoin, create reddcoin gift cards, and sell those gift cards. They’re not depreciating the value of reddcoin by market selling their supply on an exchange immediately. Instead, they’re keeping reddcoin, turning it into a reddcoin gift card, and they could sell that for the “all important” fiat. The buyers of the reddcoin gift cards could continue perpetuating the cycle.

I love the idea of a full reddcoin based economy. So, in my opinion, the BEST case study would involve the basics. Food, water, electricity, internet, heat, clothing, and shelter. If I can buy any or all of those, knowing that the recipient will not immediately cash out, then the world will be a better place.

The upside: There is no POW! Very little electrical cost to keep your wallet going and staking. No miners wasting electricity and selling off their earnings immediately to pay their electrical costs in conventional currency. That will be the BIGGEST reason that reddcoin becomes highly adopted by the community. Want to get into reddcoin? Buy reddcoin. No mining equipment needed.

Just my 2 RDD

#3

Great initiative!

If I may be so bold, though…

I feel it is important to clarify that anyone out there who comes up with a genuinely interesting, feasible and profitable idea should be aware that of course this idea will be worth a lot more than the initial prize.

Essentially, you may have found the elusive “Bitcoin killer app”.

This leads to a question techemy. Would you consider working to create the project with the winner, if the case is convincing enough? Please address this aspect.

1 Like
#4

Awesome! Im going to start brainstorming up some ideas :smiley:

#5

Because in the future… 1 RDD == 1 BTC … Mind Blown

But seriously, what Reddibrek said is on point. Actually solving this is worth…who knows. Mass wealth.

1 Like
#6

reddibrek Hi Reddibrek

This is a good point, however the idea is to get reddcoin used by businesses.
If the findings show a clear method to a revenue-stream, it will still require capital, time and effort to actually do the recommendations. The writer of the business case may take it upon themselves to create a business out of it. We do not foresee a situation where there is IP concerns here.
If there are, we are more than happy to have a discussion behind a signed NDA to explore the opportunity with the Author.
A clearly identified and presented business case should encourage adoption and therefore shareprice overtime.
These adoption endeavors are designed to be good for the community as a whole, long-term.

1 Like
#7

RDDRocket Sure could be, but in practice, thinking up an idea doesn’t result in wealth to the inventor immediately. See my reply to Reddibrek

There is a few solutions Reddcoin & Redd-ID could solve, which could lead to disrupting billion dollar industries.
But like Satoshi’s whitepaper, the best way to gain wealth is by holding the currency unit of the platform invented.
In reddcoin’s case, we already have reddcoin. What we propose to do here is to find a billion-dollar use-case for Reddcoin.

We feel that the biggest issue with cryptocurrencies in general is that businesses simply do not understand what the value to them is.

This is because the entire industry is 6 years old with 90% of businesses that exist ‘in bitcoin’ having only joined in the last 14 months.

We are the lunatic fringe - before the early adopters.

So let’s find a use-case that’s a no-brainer for a vertical market/industry out there, ready for the coming early adopters to start looking for cryptographic solutions to their marketing, remittance, rewards or identity management problems!

4 Likes
#8

Seeing as nobody has submitted anything - the prize could be an easy win if anybody submits an entry within the next 3 days which meets our mim criteria outline in the OP.

Would be nice to see somebody business minded submit an entry.

If there is no submissions, we will attempt to redesign the contest to make it more attractive.

#9

I´d like to submit an idea, but I didn´t find any time to write it down. We´ll see.

#10

Techemy Seriously, a 4-8 pages business case for 25$? I’m not really surprise you have zero submission.

#11

DogeDump said:

Techemy Seriously, a 4-8 pages business case for 25$? I’m not really surprise you have zero submission.

Yes, but it’s important to look at the whole picture. www.BraveNewCoin.com is a cryptocurrency news site which has always had a friendly relationship with Reddcoin. The plan may be to publish all or part of it as an article on their site, which would be great. Whatever the case, a write-up like the one suggested could only benefit everyone involved.

1 Like
#12

GrayPhoenix and fair enough - did not do the calculation at the current reddcoin value.

Happy to Pay $200 USD (in btc or rdd) for a professional business case.

We’ll extend this until the 14th of Feb and see what happens.

1 Like
#13

GrayPhoenix Also - just an FYI re your comment on us being a news business: BNC has been working on a few exciting things for months now. We can almost talk about it. What I can state for now is that News will become a small part of what we do. Pretty confident the parent company ‘Techemy’ will become a household name by the end of the year :slight_smile:

3 Likes
#14

Techemy looks like you cleared my free time for the next days (;

3 Likes
#15

Techemy said:

GrayPhoenix Also - just an FYI re your comment on us being a news business: BNC has been working on a few exciting things for months now. We can almost talk about it. What I can state for now is that News will become a small part of what we do. Pretty confident the parent company ‘Techemy’ will become a household name by the end of the year :slight_smile:

Very cool, I hope you’ll let us know more when you’re able.

#16

Techemy said:

GrayPhoenix and fair enough - did not do the calculation at the current reddcoin value.

Happy to Pay $200 USD (in btc or rdd) for a professional business case.

We’ll extend this until the 14th of Feb and see what happens.

Wow! Is it possible to change the topic name so that everyone sees the update? $200 is around 9 million Reddcoins!

#17

iisurge said:

Techemy looks like you cleared my free time for the next days (;

Go get 'em iisurge !!!

1 Like
#18

iisurge Cool - well just reach out if you need direction or extra info on what we are after.

Will just re-iterate that the document should be result in: A business owner picking up this case-study and saying “wow - this solves a direct problem my business experiences”
ie - very much a solution to a problem with details of how this tech can resolve said problem.
What we’re paying for is creative business minds to think up a blockchain tech/reddcoin solution to real world problems.

Have fun and let us know if you need anything.

1 Like
#19

IMO this document should be created after social X and redd ID are released and tried. It is hard to talk about benefits of system we havent used ever before. Some extra surprises might be missed by this paper.

1 Like
#20

Damn… I wish I had some spare time…