What are the functions of token beside just mineable?
If the token has no usage then no one will use it or transfer it, then the mining proccess will not be able to run. So, instead of just mineable, a coin must have great function, like ethereum which is for smar-contract creation to build business or bitcoin which is actually for peer-to-peer payment, and more.
Here is a post on our Slack channel about the business model of the SWAT Coin Project and MYFIE (both block chain projects of PM Corp the parent company of both SWAT and MYFIE)
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Business Model Explained! We watch TV.. There are so many ads which we see on it.. But neither the TV company nor the TV channels or the Cable Company, share the sales revenue from the TV Sales and the ad revenue that is earned by showing the ads, with us. But we are willing to pay for the TV and for the cable and to top it all we are willing to watch the ads without complaining for ever! Do we earn anything out it? No! So here is our business model in which you have a smart phone and a TV and a Book reader and a camera etc., and the profit from the sales of the TV (smart phone) is shared with everyone through mining & buy back and the ad revenue earned is shared with you and the revenue earned from content delivered through the book reader, content streaming etc., too will be shared with the investors and users in the future!
That leaves us with the camera which is not earning any revenue as of now. I have thought of a business model to generate further revenue by monetizing the content that can be a created with the camera. The most important content today for individuals in particular young people that is being created daily in billions is the selfie! So i have thought of a business model to monetize the selfie. I have created a token with the symbol MYFIE and the name of the Token is My Selfie or Monetize Your Selfie at this token address (
https://etherscan.io/token/0x43a1b476c1315dfef973d05c953ac1455823afaa). I have registered a domain name MYFIE.LIVE (
http://www.myfie.live/) which will soon be a site with a live feed of selfies taken and uploaded from across the world! I have also thought of it as a new type of coin which we will call as the POC coin or Proof of created Content coin! The more selfies one uploads on to our website the more they can earn MYFIE. We will have live feeds of most recent selfies of celebrities, sports persons, political and business leaders etc., on the one side and we will have the user created content of the MYFIEs posted by individual users on the other side.. We will have voting to keep the most popular MYFIEs to be retained and showed on top. We will not have the dislike option. Only the like option and vote.. This is exactly what Youtube, Facebook and othe image sharing sites such as IMGUR have done.. Make money with user created content. Content is King. Human beings in general are narcissistic and are obsessed with themselves and the way they look. That is why the beauty, cosmetics and anti-ageing products are one of the fastest growing sectors in the world! How do we link it with our Pocket Miner and our mining app.. You need to sign in to the MYFIE app with the authorized IMEI of your device and wallet address to be able to earn MYFIE every time a selfie is uploaded. Should we use the mining app directly for this or use a separate MYFIE app will be decided later. We will create an algorithm which will decide the difficulty level of earning a MYFIE based on the number of IMEIs active, number of uploads, market price etc., which will make it more difficult to earn a MYFIE as we go into the future! I will create a separate site and a Simple Whitepaper to explain this concept. Now everyone can understand how SWAT will expand its scope and what the future potential and valuation of SWAT can be!
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Note: The MYFIE project will go live in the next couple of months.
