How Blockchain Technology Can Fix the Mobile App Economy
Remember the first time you opened an app that blew your mind? What about the first time you stood in the street, opened a taxi app, and ordered a taxi that appeared a few minutes later just for you? Then there’s the moment that you got out of the taxi without paying or transferring any cash to the driver. These were all examples of fulfilling mobile moments.
App Developer Trends
In the last year, we’ve had many conversations with our app developer community and we noticed a trend:
- Return on investment for developing an app is getting harder
- User retention is getting shorter
- Finding a balance between a good user experience and number of ads makes it harder to monetize an app
- Publishers are looking for ways to use their users and community in a better way.
Mobile User Trends
We also noticed that mobile users are getting more tech savvy and expecting more from their apps:
- In-App purchases are ‘old school’. They are very strict, require users to have a bank account or credit card and are not open for most of the mobile users.
- Users are looking to add peer-to-peer transaction capabilities. Today most apps require users to use physical actions (“meet me at the train station and I will sell you my baseball cards collection”) or 3rd party services that were not designed for non-immediate transactions (“pay me using PayPal and then I will deliver you the package via FedEx”).
We believe that Blockchain technology will revolutionize the mobile app economy and create amazing opportunities for app developers. Blockchain not only protects user anonymity during a transaction but also secures the contents of the transaction itself. Also, decentralized database technology and an open standard platform that everyone can communicate with is something that mobile app developers have been waiting years for.
Here are some examples:
- A social app using their community to share and promote their app to their friends, and reward them with coins that can be used later inside the app, in other apps, or even be exchanged for fiat money.
- An RPG game (Role-playing game) would like to allow players to communicate between themselves and do business transactions such as selling 2nd hand virtual good, so both the players and the App publisher benefit from this transaction and the retention is being increased.
- A restaurant chain that will reward you with branded cryptocurrency coins every time you visit their physical store, through their app.
These just few of many other use cases that grow our publishers’ business. This is a greenfield opportunity and app developers can do amazing things as soon as Blockchain technology is more accessible and tailored to the mobile world.