Middlemen basically serve as the link between product originators and consumers. They have played some significant roles in ensuring that essential products, especially in the technological world are able to get across to various parts of the world and reach their appropriate consumers.
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Centralized platforms are limited
With mobile technology, Google Play Store and Apple Store have risen to establish themselves as the ‘go to’ platforms for apps acquisition, despite the existence of other smaller outfits. But the emergence of Blockchain technology is exposing the limitations of these centralized systems and offering viable options that promise significant cost-effective and more efficient processes of apps acquisition in the technological ecosystem.
The existing App Store system is plagued with a number of limitations that hinder the achievement of maximum rewards for both developers and consumers. Some of which include:
- The cumbersome payment logistics means that extra costs are incurred for services rendered at every stage of the intermediary process.
- The inefficiencies between multiple stages during payment exposes transactions to several risks in the form of chargebacks and fraud.
- The flow in most cases is highly inefficient.
Blockchain changes everything
The AppCoins protocol which enables the processing of in-app purchases inside Apps through Blockchain brings several important benefits to the developer, which includes:
- Developers receive the money in real-time directly from the user because the smart contract implements the revenue share between the developer and the store, no exchange rates and fees, everything in real-time and in the same currency.
- A developer doesn’t need to trust in the store because is the smart contract in the Blockchain that guarantees the transfer. The smart contract is open source and can be audited.
- By the Blockchain being public and standardized, it means that the developer has to integrate the protocol API only once and it will work with all App Stores that follow the protocol. The protocol was already adopted by Aptoide (the largest independent App Store with 200 mln users) and will be adopted soon by others.
- Overall, as a result of using the Blockchain, the revenue share can be much better for the developer: instead of 70 percent of Google Play or Apple App Store, the developer receives 85 percent with Blockchain based AppCoins protocol.
A platform utility token
The platform shall be powered by the underlying AppCoin tokens which are based on Ethereum Smart Contract. This token will be used to get various types of services on any app store supporting AppCoins protocol, but also to reward users. Tokens can be used to advertise apps, developers can sell and users can buy digital goods using in-app billing, and users can be rewarded with AppCoins for installing and using sponsored apps.