What is Smart Places Protocol?

Why you should consider ‘SMARTEE’ as the real social token

#ANewSocialWorld #Blockchain #SocialToken #SMARTEES

Imagine a technology solution which enables and rewards instant socializing and connects people in real life situations.

What is the idea behind this?

We believe that people are ever longing for authentic emotions and experiences in real-life situations, that is emotions and experiences which can not be experienced online. There are many situations in life where we meet people who may be strangers to us but who we might consider to be interesting. Everybody knows these situations when we wish to just have an opportunity to get to know a specific person.

For these opportunities and situations, online-platforms like Facebook and Instagram have only suboptimal solutions as their business purpose is to participate from a huge online community.

We have found the perfect solution in order to enable instant real-life connections between users who don’t know each other so far. This requires to consider two factors:

First requirement: Each user has to at least see others in real life in order to decide for himself/herself if another person appears interesting. These random situations happen to all of us constantly, for example on the way to work, at the co-working space, in fitness studios, in the park etc… So everydays life situations are very suitable to fulfill factor one: Having people at the same time at the same place.

Second requirement: Users are enabled to make thoughts and interests visible to others in their direct vicinity. Why not make use of digital technology to enable analogue and real-life interactions? We have already developed a mobile app that may be used for these purposes. Thus, if a user can see the interests of other users the chance of matching interests is extremely high and nobody has to be afraid of direct denial.

With these requirements — being at the same place at the same time and with mutual interest — local social environments arise, we call these: ‘SmartPlaces’ that connect people with each other in real life. The singular combination of time, place and interest becomes the basis for real, authentic and unique moments. At the same time, the community ensures that all users adhere to the community rules.

What does that mean regarding the Smart Places Protocol?

Users conducting social interactions at a SmartPlace receive ‘SMARTEE’ tokens as a reward. By that, we encourage people to start social interactions with others in real life. As more people participate, the easier it will be for all of us to break down social barriers and get to know interesting people around us.

We are aware that a loyal community is needed especially at the beginning that believes in our ideals and promotes the project. We need people who do not accept that society is more and more immersed in a purely virtual parallel world. People who don’t believe that Facebook and Instagram are really good for us in the long run as these companies are just focused on earning money with the data of their users.

That’s why we reward our community! The earlier you join, the more it pays off. Because every ‘SMARTEE’ token earned increases in value with every social interaction that users trigger. So if you have tokens early on, you can directly benefit from the increase in value.

What does that mean regarding token economy?

As mentioned before, social interactions at a SmartPlace are rewarded with ‘SMARTEE’ tokens. At the same time, we have implemented a burn mechanism that depends on the number of interactions and also on the number of users. Burning the tokens increases the value of the remaining tokens held by the community. The burn rate follows a decreasing curve. In the initial phase, even relatively few social interactions lead to a high burn rate and thus an increase in value. As the number of users increases, the rate per social interaction decreases, but the increase in value continues due to the higher absolute numbers of users.

In addition to the increase in value of the tokens, liquidity comes into the SmartPlaces ecosystem from other sources. As we will go into this in more detail in one of our next articles, for now we just point out some basic mechanisms . Our SmartPlaces partners, e.g. restaurants, bars, clubs etc. can place advertisements via our campaign managers. Even NGOs can promote social challenges and reward social interactions. Furthermore, users can have NFTs created or purchased or just trade them. These activities also have an impact on the burn rate. Overall, we seize on the network effect: The more users are active, the higher the incentive for the SmartPlaces partners to join, who, for example, commission advertising or incentives, which finally benefits the users.

So we encourage social interactions with our SMARTEES! And we reward our most loyal supporters and token holders with solid token value increases.

We’ll keep you informed with further information about our project!

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