How Are You Making Money In The Sovereign Ecosystem?

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How do you make money in the Sovrin ecosystem?

Wednesday 5M

Convener: Richard Esplin

Notes-taker(s): Richard Esplin

Tags for the session - technology discussed/ideas considered: Sovrin, Business Model

Discussion notes, key understandings, outstanding questions, observations, and, if appropriate to this discussion: action items, next steps:

Business models:

  • Provide a wallet specific to a certain demographic
  • Provide a wallet to organizations that scales to large numbers of connections
  • Auction network connecting potential buyers and sellers
  • Exchange of claims--provide claims for a fee
  • Provide services to bring people on to the network: give IDs to schools
  • Provide a SaaS service for hosting wallets of claims (like Coinbase in the Bitcoin ecosystem)
  • Domain specific identity solutions (Schools, daycares)
  • Sell SDKs that provide additional capabilities to solutions in the ecosystem
  • Issue a coin for the additional capabilities provided in the ecosystem
  • Provide consulting for organizations that are adopting solutions in the ecosystem

Concerns:

  • Sovrin Coin Offering:

-- "Cheapens what we are doing" -- "Coin offerings are a scam" -- "Why don't just pay for transactions with USD?"

  • But it is also a challenge that there is no layer 2 token for Sovrin. It will be hard to attract developers until there is a direct way to monetize the ecosystem.
  • How are Stewards rewarded for their contributions to Sovrin?