Communicating the Use Cases of Cryptocurrencies and Basic Attention Token (BAT)

Posted | 08/04/2021 / Views | 827
Back to News
Next Article

At a blockchain meetup last week, where all participants were already involved in the space, the question from the floor was: ‘What is the value of Bitcoin if all we can do is send it from one wallet to another?’ The speakers spoke about the scarcity of Bitcoin and the trust people have in it, but that didn’t really answer the question. It’s not persuasive enough to say ‘there are heaps’. 

For many of us who have tried, sometimes unsuccessfully to explain ‘magic internet money’ to family and friends, it helps to have a few easy to explain use cases to help get the ball rolling. Talking about clear use-cases isn’t as exciting as price moves, but they do hold the key to widespread adoption of cryptocurrencies. 

Coming to grips with a coin’s ‘use case’ is most often the first port of call for any deep dive into a new project. Any coin has the potential to be a ‘store of value’, famously Bitcoin and infamously Doge coin. A number of Exchanges have a native token, most notably Binance and Uniswap. Then there are a range of decentralised finance tokens ‘defi’. In Basic Attention Token (BAT), you have a very clear and targeted use case for newcomers, and seasoned crypto bugs alike, to understand quickly.

Communicating the Use Cases of Cryptocurrencies and Basic Attention Token (BAT)

People not wanting Google to have access to their search results through searches and the Google Chrome browser, there are a few options, one of which is the Brave browser. Convenient and effective, the Google ecosystem is largely free, but unfortunately, if you aren’t paying for a product, you, invariably, are the product. Most, if given a choice, would prefer not to share their data with tech giants. The question then is, how would a competing browser that doesn’t monetise or on-sell users data, support themselves seeing that consumers are unwilling to pay. 

The Brave browser shows advertisements on the bottom right hand side (shown below). At the time of writing, the majority of advertisements are for crypto related products reflecting the interests of the early adopters. However as their user/advertiser base grows, the range of advertisements would be expected to change.

Communicating the Use Cases of Cryptocurrencies and Basic Attention Token (BAT)

The browser rewards users for their attention with micro payments of the Basic Attention Token. As a result, users are not just able to withhold their data and avoid being the product, they are able to earn a crypto currency in the process. 

Communicating the Use Cases of Cryptocurrencies and Basic Attention Token (BAT)

BAT has doubled in price over the last 30 days and has established itself on the first page of CoinGecko’s top 100 coins. Speak to us about adding Buying Basic Attention Token (BAT) to your holdings. 
 

Subscribe to Our Newsletter

Daily or weekly emails with gold and silver price, bullion news and important economic events from around the world.

Daily or weekly news on everything gold, silver and crypto.

Ainslie Bullion - Build Wealth with Gold and Silver