This project is made as entry for the BSV Hackathon May 2019. The purpose of this entry is to participate in the competition with an "onboarding scheme" in combination with an application concept. The application concept mainly serves as an example of an app business or the general public would find useful today and that could implement the proposed onboarding scheme. The objective of this entry is to stand out in the competition not in the field of innovative coding or to create an high tech technical solution (this is not my skillset, I am not software developer) but by proposing an actual solution that could be out there and viable in a matter of a couple of weeks. The application concept demonstrates an commercially viable product that utilizes BitCoin SV. Also because it is build on BitCoin SV it has advantages over comparable solutions currently available. The entry concludes with a wishlist of features I would have like to include if I had the team and budget to make this into a real application available for the general public in mobile app stores.
Miles is an digital mileage log application that leverages the unique properties of BitCoin SV. The app proposal itself is fairly simple. It’s a digital mileage log that allows people to submit mileage logs to BitCoin SV with an simple Op-Return transaction. The data entries are publicly readable for now but because unique user ID’s are used no personal information can be linked without knowing the User ID, especially at scale. The app provides a way to generated a unique User ID in a way that no personal data has to be stored on any server or on BitCoin SV, but can easily be retrieved with the correct license plate and a password.
• Pay per use. Whenever you want to stop using it you can, without losing any money on prepaid apps or subscriptions.
• You don’t lose data if you lose your phone or stop using the app. All you data is safely stored on BitCoin SV as
long as needed so it is available in case you are audited years later.
• You own your data and it remains yours. The data you record is stored on BitCoin SV and is not sold to any third parties
as with comparable “free” application. But you are free to sell your data to any third parties you like for BSV by providing
access to your data and User ID.
• If the mileage is registered to be able to claim business expenses or tax refunds, you can provide access to your data
so that you can be automatically compensated in BSV.
Onboarding to BitCoin SV is a two-fold problem:
• Distribution of BSV, and
• Familiarize people with the technology and generate awareness about the benefits BitCoin SV has to offer over.
DISTRIBUTION OF BSV
A much-discussed issue is how to enable people to obtain BitCoin SV. This is in my opinion a problem that can easily be solved and will resolve itself over time if there is sufficient demand for applications that utilize the unique characteristics that only Bitcoin SV can offer. In addition, this problem can also be easily solved by application suppliers if they work with a subscription model where they accept fiat money and implement a BitPipe (https://github.com/unwriter/bitpipe) solution to facilitate the BitCoin transactions for end-users. This way the end-user does not even have to be aware that BitCoin SV is being used.
FAMILIARIZE PEOPLE WITH THE TECHNOLOGY AND BENIFITS OF BITCOIN SV
The real problem with onboarding as I view it is to get enough people familiarized with the technology and to make them aware of the added value that BitCoin SV has to offer. How to use a wallet as MoneyButton and how to buy BitCoin SV. If you succeed in this, demand will naturally arise and supply will follow. You can achieve this by offering applications that demonstrate the different facets of BitCoin SV.
When we think of onboarding, we must keep in mind who the target group is. They are average people who go to work every day to provide for the needs of their families. A wealthy group with superficial knowledge of technology and little to no knowledge of BitCoin. We need to create apps that meet their daily needs and make their lives easy. Miles could become such an app.
The proposed onboarding scheme is a “freemium” model but differently as it doesn’t rely on adds or data collection to be sold to advertisers. It allows new users to use, experience an application build on BitCoin SV and learn what BitCoin SV can do. The best way to introduce people is to let them use a tool they already need for business expenses and/or tax deductions such as keeping a mileage log. That why I created the Miles application concept. But the onboarding scheme could work on other similar useful applications as well.
Important is that the application doesn’t focus on the “value” aspect of BitCoin SV other than it’s needed to obtain the “added value” it has because it is built on BitCoin SV. Another important aspect is that this “freemium” model incentivizes users to onboard and learn how to do this themselves up to a point they stop using the freemium model because it is more convenient to become a paying customer.
The idea is that the Miles app requires BSV to submit mileage logs to BitCoin SV. The app shall have an integrated faucet, much like https://faucet.allaboard.cash/, that allows new users to top up their wallet on a daily basis with just enough BSV to allow them to submit two logs. For most people, especially business users, the two logs would not be sufficient in the long run, also additional features as timekeeping etc. should be included over time to encourage more use of the app. The app directs people on the same page as the faucet to an exchange (point of entry) that allows them to buy BSV. Having sufficient BSV in their wallet allows them to use the app with much less friction (no more tapping the faucet) and this would increase the overall user-experience a lot. I expect this improved user experience would make them stop using the faucet over time as it is less convenient.
I currently use the Money Button wallet because this would introduce and familiarize people to this great BitCoin SV tools. But a native wallet could be integrated into app the reduce friction for the end user and improve user experience.
The app should have a simple way to read the log history for the user, this is not finished. But reading and analyzing log history should really not be restricted to the app at all. All kind of different ways to read and analyze log history can be made available by third parties to our users as add-ons for a small fee. Enterprise level solutions could also be created for businesses in order to automate travel compensation or tax deductions etc. Also such information could be sold by the user to any party in the Big Data industry (such as navigation apps or ubers) for optimizing their service or software. This would really show the added value that storing logs on BitCoin SV have over storing such data on central databases. The user is free to use or exploit the data any way they see fit.
In the beginning, most people that start using the app most likely do this not because they want to, but because their employers, CFO, accountant or tax auditer makes them as a means to provide solid evidence for travel compensation, taks deductions and to prevent fraud.
BitCoin has a certain special qualities that are of particular interest for business administration and provides added value for many business administrative operations. In particular if the administration is intended as evidence for internal or external control. In evidence, important elements to record are: Who, What, Where, Why, When.
BitCoin has clear added value in particular in regard to Who and When:
• Who is provable thanks to the use of a public and private key
• When is provable thanks to a generated timestamp
The aspects What, Where and Why must be recorded by the user. BitCoin cannot prevent human errors in administrative actions, but it does make fraud considerably more difficult and much easier to trace.
The Write Once, Read Many (WORM) quality of BitCoin and the decentralized data storage ensure that once data has been recorded it cannot be changed by anyone afterwards and that all mutations are transparent.
Not only would this app be more usefull and would it opens up new possibilities for how to manage data such a mileage logs, but it would also proof to be a cheaper options than currently available. Even cheaper than buying a Paper Mileage Log on Amazon that go for around 6 to 10 usd.
• Specification of pricing schemes (to be included).
Simple calculation of costs befor profit
USD/BSV exchange price today (7-5-2019): $1 = 1887000 satoshi BSV
TX cost of a simple Op-Return transaction as used for Miles is something like 565 satoshi.
With 2 logs a day: 2 x 365 days = 730 logs per year
730 logs x 565 satoshi = 412.450 satoshi
412.450 satoshi = around 0,25 USD a year tx cost for miners.
I most have made a mistake in the calulations above, but if correct the potential profit margin for the app is huge considdering the prices of alternatives.
A. The Onboarding scheme
The different phases are explained visually and in more detail in the follwing document: https://github.com/DiscoDonny/Miles-BSV-HACKATON/blob/master/Miles%20-%20Onboarding%20scheme.pdf
B. Basic Application (write)
-1. Create User-ID.html
https://bico.media/f5b1f288571aafb298224c3b01e05da9c1fb3ffbc7ec24c1abcce901ff8d1a59
-2. Mileage Log.html
https://bico.media/c2161fce8e509796594ffd8beb6864c19d47ae8d64eb68d5781d6741a1150a4c
-3. FAQ.html
https://bico.media/dfdaa59d63597bf0a55948aea27f136ea1bce157dacab6a4d290ea830d236b05
C. Basic Application (read)
-4. Search example with Oyo.cash
-5. Visualisation of a posible Log history overview
https://github.com/DiscoDonny/Miles-BSV-HACKATON/blob/master/Miles%20-%20User%20instruction%20Manual.pdf https://github.com/DiscoDonny/Miles-BSV-HACKATON/blob/master/Miles-analyze.xlsx
D. Wishlist
Features and options I would like to include if I had a budget and a team to make this app into reality.
The grand vision is to create a simple mobile app that allows anyone to "write" all kinds of administrative data to BitCoin SV via standardized templates that complies with applicable rules and legislation.My conceptis focused on Mileage logs, but can easily be extended to all kinds of work-related administrative tasks such as timesheets, checklists and workflows.
"Reading, visualizing and analyzing" data registered with BitCoin SV, only basis examples should be created. A marketplace should be facilitated, to allow third parties to create and offer all sorts of solutions for reading, visiualizing and analyzing data the user logged to BitCoin SV. For the user it should be as easy as scrolling true an add-on store and buying an add-on for a small fee. This could include a marketplace for selling your own data to third parties such as the Big Data industry.
Summary
- Mobile apps (androing/iPhone) for writing to SV
- Marketplaces for buying add-ons for reading/visualizing/analyzing your data and to allow selling your data.
https://faucet.allaboard.cash/ | https://www.moneybutton.com/ | https://bitvavo.com/en | https://oyo.cash/