Incompetence is a strong word. I would say that she spoke the truth and truth is always harsh. Like even if I know I can't say you will die tomorrow. You will become my biggest enemy 😁 The difference is we can't escape death but we can definitely take measures in advance to suck the additional 2 mn ELA liquidity that will come in Aug. It's a choice with Elastos management has to provide aircover to retail investors who bought at 12 USD and all the way upto 90 USD
Daily thoughts - Part 9
It‘s been a few days since the last daily thought. Maybe i need a new name for this 🤔 (i‘m open for suggestions).
I just watched the news on Swiss television and they were reporting about the Film Festival in Locarno. It‘s famous all around the world and they are showing 300+ movies. The problem they are facing is that almost none of the movies running in the competition ever get showed in any cinema and even distributors don‘t want to sell them because they prefer Hollywood blockbuster movies.
Elastos could be their solution. The film makers could release digital copies of their movies for very low cost and use the festivals as promotion to sell them. They could just implement a QR code in the credits and everyone wanting to buy it just takes out their smartphone, scans the code, confirms the payment in ELA and now owns a copy of the movie.
They than can (and probably will) recommend the movie to their friends and even promote it online on Twitter, Facebook, Reddit or whatever decentralized alternative someone might come up with. If the demand for a movie exceeds its supply (remember that the number of copies is limited) people who bought the movie could even resell it for profit.
And now imagine this: it‘s quite common that A-list celbrities attend these festivals. What would happen if let‘s say George Clooney would buy a copy of a certain movie and then resells it for 80% of the original price after having watched it a few times (a certain cut of the resell value will go to the content creator thanks to smart contracts). You happen to be the lucky guy/girl buying the movie from George Clooney without realising it. After a couple of weeks you want to sell the movie again and the ID George_Clooney16549 which you bought the movie from turns out to be to be the world famous actor. Would you sell it for the same price you bought it for on the open market or would you try to find a George Clooney fan who is willing to pay more for a movie which was previously provably owned by the real George Clooney?
Remember that people are willing to pay premium prices for ordinary things which have been in the posession of celebrities. Why shouldn‘t the same be true for digital assets? Elastos could open a market for a whole new category of collectibles. Digital collectibles. And i am not talking about Crypto Kitties or digital baseball cards but digital assets which have been owned by celebrities. Another thing that comes to my mind are e-sports collectibles. Which fan wouldn‘t want to own the exact copy of a game which has been used by their favourite player to win the world championship? And who wouldn‘t want that shining armour of his favourite player‘s character after he is retiring from competitive e-sports?
Everyday people come up with ideas for dApps and new economic models which can be achieved thanks to Elastos. I want to encourage all of you to write them down and post them to the community here, on discord, reddit, medium, steemit or submit them to Elastos for the community writers series.
Onward! Upward! Elastos!