Welcome Fellow Community Members to our weeklyCommunity Contest, your one-stop place for you to win exciting prizes.
A new contest will be announced on Monday of each week. Next Contest: 23rd Sept '24
We want to give our lovely community members a fun and enjoyable way to win some bitcoin. Check out the contest below:
:: Invent A Product!
Calling all creative minds! We’re excited to launch the “Invent A Product” contest where you’ll get to imagine the next big thing! Whether it’s a groundbreaking gadget, futuristic service, or a revolutionary tool, your task is to dream up a product and describe how it works.
Things to include:
Name of the product
Description of how it works
Why is it useful?
Think of James Bond, Back to the Future, or Star Trek. There are really no limits to what you can invent here. Let your imagination soar! Who knows maybe it will be a reality one day!
The most creative, imaginative, and eccentric answer(s) win!
Deadline: 22nd September 2024, 11.59 PM EST.
1 winner,
Prize: $50
Contest Guidelines:
All contests must be played within the community thread.
Do not copy or refer to answers from the internet.
Use of AI is prohibited.
Do not share any personal information in the community thread.
Description of How It Works:
StableStake Pool is a smart contract-powered staking platform that allows users to stake their stablecoins (e.g., USDT, USDC, DAI) in shared liquidity pools, earning rewards while maintaining the stability of their assets.( or creating your own coin, who knows?)
Usefulness
If the platform is integrated with Blockonomics’ payment gateway, it would allow businesses to accept stablecoin payments while offering customers the option to earn passive income through staking.
The staked stablecoins are pooled and used to fund various DeFi (Decentralized Finance) protocols such as lending, borrowing, and liquidity provision. The rewards generated from these activities are distributed proportionally to stakers based on their contributions to the pool.
**Name of the product:**Crypto subscription payment platform
Description of how it works:
**.smart contracts for Automation:**Leverage smart contracts to automate recurring payments without the need for the customer to manually send payment each cycle.Once a subscription is initiated, the system handles subsequent payment on predefined dates.
**.Dashboard for merchants:**provide businesses with a dashboard to manage their subscribers, track payment, handle cancellation, and view analytics.
**. Customer wallet integration:**customer can manage their subscriptions directly from their wallets, making it easy to subscribe, unsubscribe, or modify plans without any centralized account.
Why is it useful:
1.Increased Adoption of Bitcoin and Cryptocurrencies:
**.Lower friction:**offering subscriptions- based services in crypto will make it easier for consumers to pay in bitcoin and other digital assets, driving broader adoption.
2.Security and Privacy Focus:
**. trust and security:**by using smart contracts to automate the payments, users and businesses can trust that payments will be secure, timely, and without the need for third-party involvement.
3.Adapting to Consumer Preferences:
**. growing subscription economy:**the subscription model is rapidly growing, with more consumers opting for services like Netflix, Spotify, and software subscriptions. Bringing cryptocurrency into this space allows consumers who prefer crypto to participate in those popular models.
– BioLock is a data storage system that is implanted under the skin to securely store important digital information like ID, Bank accounts, crypto accounts, medical records and more.
– It uses a bio-safe chip that integrates with the user’s body, using the unique genetic code found in every human to encrypt data within the chip, making it unhackable. Only the user can access the data, through fingerprint scanning, eyeball scanning and voice or face recognition. This chip can wireless transfer encrypted information to other sources when necessary at the user’s command through data sharing whenever it comes in contact with machines or technology that requires such information.
– It uses Artificial intelligence to recognize what information is needed, why it is needed and whether the source that requires it is secure and government approved. All the user needs to do is verify their identity.
Usefulness:
This inventions removes the need to carry physical identification, credit cards and other personal documents as we’ll be carrying all our personal identification with us, literally.
It would also give extra security against identity theft, reduce the loss of sensitive documents and keep all bank accounts in one space ready for use.
: Invent A Product!
: @jenniexcx