Interviews 14 May 2018CoinGeek
Ryan X. Charles: Best crypto use case is ‘ability to earn money on the Internet’
To reach the level of mass adoption, cryptocurrency needs to be used—daily, if possible. Bitcoin, Bitcoin Cash (BCH) in particular, is currently seen as more of an investment or a commodity. But the cryptocurrency is more than that. It is, after all, defined by the Satoshi Nakamoto white paper as “a peer-to-peer electronic cash system.”
Bitcoin Cash has the potential to bring economic freedom to the world, but to achieve that, people first need to use it. Not as an investment or a commodity, but also to spend and earn, according to Yours.org co-founder Ryan X. Charles.
“We think the best use case for cryptocurrency is just the ability to earn money on the internet. We need to get people actually spending the cryptocurrency so that, for instance, you ought to be able to use Bitcoin Cash to buy things on online merchants,” Charles told CoinGeek.
This view paved the way for Yours.org, a novel idea launched by Charles and co-founder Dr. Clemens Ley in 2015 that lets everyday people get paid for doing what they love on social media. Essentially, what the web application does is it allows users to earn Bitcoin Cash not just for creating good content, but also for finding and moderating informative submissions.
“Our mission is two-fold: improve the quality of content on the internet. We think with good incentives, where people can actually earn money for doing a good job, that the quality of content is going to be higher,” Charles said, “We’re going to get rid of trolling, or at least decrease it significantly and decrease clickbaits and things like that, and improve the overall quality of content. And also get people paid, get people paid for creating it, for editing content, for moderating content, things like that.”
No fake news, only credible content
The social media app, which recently raised $1.5 million in a funding round led by Bitmain and nChain, encourages people to create high-quality content using good incentives, like getting paid with Bitcoin Cash. Yours.org is open to all users, not just content creators. Because “not everyone is necessarily a content creator,” Charles said the social media platform also gives people a reason to vote and earn money in the process.
“We have a voting model where next to each article is a voting button where when you vote on the article you give some money to the original creator, the person who wrote the article as well as some money to the other voters,” Charles said. “We give people a reason to vote because they can actually earn more money than they put in if they vote on hot content… so that’s an example of what we’re trying to do to get people to spend and earn Bitcoin Cash.”
At the inaugural CoinGeek Conference on May 18, Charles will be providing an overview on how to incorporate BCH payments in a retail environment. More details about the upcoming one-day conference, designed to give attendees a unique perspective on BCH and its importance in the retail and eCommerce environments, can be found here.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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