How rewards users for contributing to the local community

Lolly’s CEO was interviewed by online radio Crypro and Blockchain Talk for their popular podcast about next generation digital currencies.

The target audience for the podcast is the crypto community, and it was quite interesting for us to explain exactly why points are going to revolutionise the digital currency culture for user contribution.

In particular, letting users earn for “information mining” – which is contributions to the community in social media language –  is very appealing for all users of a community, not just a small fraction of power-users.

Most user contribution platforms rely on visual, statistical or status rewards to encourage users to participate and help others. Crypto systems rely on the reward being monetary in the broader sense and the concept of exchange.

Lolly is a third and effective solution: users earn points which can be redeemed only within Lolly for services that otherwise can only be bought for money.

We see as a mass-market digital currency of a different kind.

“This podcast was interesting for me, as it gave us the crypto community’s view on our points rewards. Convincing a community that has historically been strongly advocating decentralization is not an easy task. The idea of a stable currency that is created for and by the user community is appealing. Our points promote the creation of a community that makes information available to the public. All users benefit from shared information – however Lolly makes the sharing rewarding, too”, commented Richard M. Holmes, CEO of Lolly.

You can enjoy the podcast on Crypto and Blockchain Talk here.

Jens Peter Thomsen is COO and Founder of Lolly. Jens Peter Thomsen worked in the media and advertising agency industry in the Nordics, running companies dealing with clients such as Disney and Rockstar Games.