How Blockchain and Cryptocurrency can Change the App Economy – AppCoins


The mobile app store business is a rapidly growing one. If we take the Google Play Store for example, the number of available applications in the Google Play Store in September of 2017 sat at around 3.3 million, this is an increase from the 2.4 million available apps in the previous year. Despite the increasing growth that the mobile app market is experiencing, there are still a lot of problems that app developers and app users experience. Problems that the power of blockchain technology and cryptocurrency could potentially solve.

The Story So Far
If you are an app developer, you may be attracted by the fast-growing mobile app store market. Developing an app yourself, in-order to capitalize on this growth, would be a logical conclusion. However, with the current business model for app developers, carrying out this objective is made significantly harder. With the current model, an app developer produces an app, and subsequently markets that app in a market place. An app developer can decide to place ads in their app, as a means of monetization. However, the earnings that the developer receives from advertising can amount to very little because of intermediary fees. Fees such as CPI intermediaries, attribution platforms, publishers etc all take their cut from earnings generated by a mobile app, resulting in lower earnings for the developer.

On the other end of the spectrum, as an average app user, we’ve all had the experience of using a bad app. For example, a bad actor app developer creates and markets an app as something that it isn’t, meaning that you download it, and waste your time. Well, with the power of blockchain technology and cryptocurrency, the problems that are currently being faced by app users and app developers are being solved.

The AppCoins Solution
AppCoins is an open and distributed protocol for app stores. This Ethereum blockchain based project is working to solve the issues described above, and more. Firstly, AppCoins addresses the problem of advertising by making the process a more efficient one. Through an app, advertisers can pay a user in the ERC-20 compliant tokens known as ‘AppCoins’ for say 2 minutes of their attention. This process cuts down on the number of intermediaries involved in advertising, meaning that the app developer gets a larger share of app earnings. The AppCoins protocol also allows developers to sell in-app digital goods that users can buy, providing another avenue by which app developers can monetize their product. In-app billing need only be integrated once, and it will function across all app stores. Furthermore, Users who do not have an in-app payment method can also have AppCoins transferred to them, so they too can purchase in-app goods.

AppCoins also aims to improve the user experience when dealing with developers and their apps. It does this by providing the means by which a trusted environment between app developers and users can be created. AppCoins does this through its trust model; with this model, developers are ranked as ‘Trusted’, ‘Unknown’ or ‘Critical’ according to their track record of transactions on the blockchain. This encourages a transparent relationship between an app developer and users, producing an app economy with incentives to discover apps in a secure and open way.

You can find out more about the AppCoins project on their website.

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Bisade is the co-founder of Mycryptopedia. He believes that cryptocurrency and blockchain are revolutionary, and can't wait to see how it will disrupt our lives. He also can't wait to buy his first Lambo and go to the moon!Connect with Bisade on Linkedin and Twitter by clicking the icons below!