Dissolving the Separation Among Shareholders, Employees & Customers
Introduction
Welcome to the first of a series of blog posts surrounding the value and usefulness inherent with the Vyral Network, and how it can benefit many people - from contributor, customer, Vyral itself and the clients that will use the Vyral Network. These clients will be able to net a massive return of organic growth from a previously unthought of and unheard pool of people who might not otherwise have decided to promote the product or service. Read on for a glimpse, specifically in this article, about how Vyral will break down the preconceptions and paradigms surrounding the roes in the advertising industry.
The blockchain and blockchain technologies have opened a whole new world for organizations to revolutionize and redefine industries. The Vyral Network aims to do exactly that with the advertising industry - if you’ve read the white paper you’ll be familiar with some of the key elements that drive the idea.
One of the most disruptive - but also most abstract - ideas behind the Vyral Network is how the platform will blur and eventually abolish the lines of separation for participants. We’re going to look at how this all works in detail and illuminate how this separation will benefit organizations and people everywhere.
Breaking down traditional walls and allowing normal people to do more - and achieve more - is a core belief that drives a lot of innovation in blockchain-related ideas. Industries from medical care to financial advice have benefitted greatly - and will benefit even more - from ideas that make use of the blockchain. Vyral aims to have this same impact on the advertising industry. Soon, we’ll find that companies that use the Vyral Platform will be embracing a more flat organizational structure, as their customers become ambassadors, then become employees, then become shareholders. Let’s look at this process in detail!
Customer
Every individual who uses a product or service within the Vyral Network now has the ability to become an ambassador of that brand. Traditionally, this means being rewarded with either monetary value or some of the product itself - however, with the benefit of blockchain technology - now, using Vyral, people can become ambassadors of a brand in exchange for a reward token. What this means is four-fold:
Customers can now earn a theoretically unlimited amount of reward tokens for first performing certain actions for reward, and then for having people they refer (and the people under them) complete those actions
They can redeem these tokens for the products or services offered by the organization
Customers can keep these reward tokens - which represent a share of the organization itself
They can choose to trade them for other crypto or tokens, and potentially fiat
In these ways, we can see that an ambassador of our organization is now empowered by the tokens they receive for their efforts. They have the ability to use or share their tokens for products or services, exchange them for other tokens or cash of value to them, or hold their tokens. Those that are invested in the platform and organization will also tend to think the value of their tokens will rise over time, which gives them more incentive to perform better as an ambassador. These people will also actively encourage other ambassadors to continue their efforts - which rewards everyone.
Employee
Should a customer choose to take on enough referrals within a Vyral program, that customer then accrues more and more reward tokens for the actions their referrals (and referrals of their referrals, and etc.) complete. This creates an additional sense of responsibility for these ambassadors, and that increased amount of responsibility - and reward - is reflected in their increased amount of share tokens they earn.
Eventually, the customer turned ambassador now spends some of their time managing their chain of referrals and potentially driving traffic or other advertising campaigns, pouring over analytics and tweaking their strategies. In theory, some of these customers turned ambassadors could now well be considered an employee of the company in most senses - complete with a percent share of stake in that organization, represented in their growing bankroll of share tokens.
Some may keep their tokens, some may trade a portion or all of it - in the free market, where decentralized exchanges will list share tokens the instant two parties decide to agree on a trade. Soon enough, there will be an ecosystem of people who consider it their full-time occupation to grow their network and be rewarded for directly or indirectly selling product, services, or otherwise completing actions for their share tokens.
As their percent ownership of the company increases, so does their overall desire to ensure the continued success of the organization. While their efforts help the company, they’re increasing the value of their reward tokens and so their investments of time and effort are worth more. Cumulatively, with many ambassadors, this new approach to incentivization will allow organizations to grow organically and truly share profit with the best performing team members.
Shareholder
The really big implication here - and the biggest reward - is that someone who has many referrals, works hard on the health of their existing network and works hard to increase the activity and adoption of the people in that network can potentially become a major stakeholder.
What this means, really, is that Vyral will empower anyone to be able to acquire an active, meaningful voice and impact on a company’s decisions and direction through their own effort. If your labour and your network allow, you will have an increasingly powerful say in how the organization conducts itself - the theoretical limit being a single person acquiring a stake large enough to be the majority owner of that share token.
Now, our customer turned ambassador turned employee could potentially have control over the vision and execution of this company. This promise rings true to many ears - and is an innovative and creative benefit of employing Vyral in an organization’s campaigns. If anyone involved - early or late - decides they want to earn enough tokens and create enough value in their efforts, they’ll gain more and more control over the entity they’re promoting and supporting. This process caps out when, theoretically, their stake of that organization outweighs the shares of the executives on the team. This is a key element that will drive many more people to work much harder than they would have in a traditional marketing scheme - even people that would have seen no value in participating for only products, services, and/or cash.
Conclusion
Traditionally, incentivization platforms weren’t a ‘win-win-win’ scenario - now:
When a customer becomes an ambassador with Vyral, they win by receiving tokens worth products, services, or value by trading - they can acquire more and more, and have more and more responsibility and reward. Their continued efforts increase the value of the token, and value of their accumulated and future rewards
When an organization tokenizes their incentivization program with Vyral, they ensure that the wasted time and energy is kept minimal while also rewarding the best performers for growing their business organically
Shareholders within a Vyral program can be sure that ambassadors will strive to keep succeeding and improving, as the ambassadors are acquiring bigger stakes themselves
Lastly, I’d like to leave you with a note on value, which is what I find most exciting about Vyral. Value is perceived and doesn’t exist outside the realm of consciousness - meaning it’s individual and unique to every person.
In practice, we can look at referral programs like DropBox’s ‘you and your friend both get 1GB of extra free storage when you refer someone.’ While this perceived value was huge to some people - who would accrue terabytes of free storage for their diverse needs - some very active and successful ambassadors would stop their efforts after they’d acquired ‘enough’ of the product. ‘Enough’ is perceived - but is a maximum everyone has for anything you might try to reward them with. How do you motivate these that have ‘enough’ product or service and ‘enough’ cash for their efforts, when further effort for further reward isn’t perceived as a valid course of action?
Again, while traditional incentivization programs - even widely successful ones - can offer either cash or product for their ambassadors, Vyral allows us to receive tokens. These tokens can now be traded for cash or product, or kept. When keeping tokens, they have the added benefit of increasing value and also represent a fractional ownership of the company - this third and unique class of value will transform the industry, as it captures a whole other subset of people and drives everyone’s motivation.
Thanks for your time, folks, and be prepared for more blog articles surrounding the usefulness and value of the Vyral platform. As time continues, there will be a Vyral Network crowdsale - a very, very unique crowdsale - separated into two ‘phases’ that will thoroughly test contributors becoming ambassadors for Vyral in the first phase, and those contributors then marketing and promoting Vyral to increase the size of their networks. There are keywords like ‘nodes,’ ‘chain,’ ‘children’ - which you can read more about in the white paper, or stay tuned for more blog articles that will be a bit more lengthy about these subjects.