How Are You Making Money In The Sovereign Ecosystem?
From IIW
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?
