As with everything there are something’s we wish to share openly and others we prefer to keep to ourselves, I think there is a lot of scope to develop these sorts of features into wallets.
There are two enormous markets that are ripe for disruption, advertising and research services. Current business models tend to be invasive and parasitic, because they are primarily focused on what they can push on the consumer and less on what the consumer wants and needs. All while generating massive revenue from producers who pass these costs onto consumers.
Smart Wallets have the potential to change the space from a push driven to a pull driven economy inverting two fundamental problems:-
- Reward consumers instead of producers
- Change the focus of market research to identifying goods and services that match the needs and aspirations of customers and not for producers to identifying markets.
By working out ways that allow advertising in wallets to reward the users who view them as well as providing additional rewards if the users responds, these industries will be transformed from a predatory to service orientated activities.
Further features could be incorporated into wallets that allow users to include profile attributes that the user wishes to share when transacting. These attributes could be sold to researchers and producers at varying rates depending on the value and sensitivity that the user deems appropriate. This will create a user driven market for their personal information and be completely voluntary and rewarded appropriately. In turn it will encourage targeted advertising towards the users from areas of the ecosystem more aligned to their needs and values. Making for a more efficient and sustainable use of resources.
The more nuanced these profile options are the more rewarding the wallets will be both to customers and service providers.
As with everything there are something’s we wish to share openly and others we prefer to keep to ourselves, I think there is a lot of scope to develop these sorts of features into wallets.
There are two enormous markets that are ripe for disruption, advertising and research services. Current business models tend to be invasive and parasitic, because they are primarily focused on what they can push on the consumer and less on what the consumer wants and needs. All while generating massive revenue from producers who pass these costs onto consumers.
Smart Wallets have the potential to change the space from a push driven to a pull driven economy inverting two fundamental problems:-
By working out ways that allow advertising in wallets to reward the users who view them as well as providing additional rewards if the users responds, these industries will be transformed from a predatory to service orientated activities.
Further features could be incorporated into wallets that allow users to include profile attributes that the user wishes to share when transacting. These attributes could be sold to researchers and producers at varying rates depending on the value and sensitivity that the user deems appropriate. This will create a user driven market for their personal information and be completely voluntary and rewarded appropriately. In turn it will encourage targeted advertising towards the users from areas of the ecosystem more aligned to their needs and values. Making for a more efficient and sustainable use of resources.
The more nuanced these profile options are the more rewarding the wallets will be both to customers and service providers.