DApps are not widely used today. What are some ideas of DApps they you think could really catch on and gain adoption and widespread use in the crypto communities, and even beyond?
I think some App that can be used for ordinary people who has no knowledge of blockchain may help for mass market adoption. We do not even need to call it DApp. A complex App may have some centralized and decentralized components…
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Yep, exactly - but what are some ideas? I’m curious about specific examples for ideas that people would like to see (and would use).
Simplification is key. The average person is confused by concepts like staking and governance. They just want an aplication that is simple fun and provides value.
Great topic that could use more discussion!
I think bridging the gap between traditional mum and dad savers and blockchain investments could be extremely lucrative for everyone involved. A lot of people have small/medium amounts of savings sitting in a savings account with 0.5-1.5% interest. It’s a disgrace from our banking system that they keep almost all the returns there.
What does it take to setup a system where a financial services provider could directly tap into blockchain returns at a rate of 3-6%? Look at maker DAO and the defi scene from Ethereum for example, something similar could be used so that customer funds are not held in a fluctuating currency but rather a stable coin on chain.
Imagine a sufficiently qualified locally based team running a standard savings bank. It would offers insurance/guarantees of all customer investments, and it would be backed/approved by local tax and legal authorities.
Are you thinking like along the lines of a deposit service where the tokens are staked to increase the return %?
I think the concept is more relevant than the end result of how the financial return is gained. The goal/aim is to utilise crypto on the backend and at our own risk. I’m theorising to create a service offering customers a seamless, zero risk basic banking service (such as a simple savings account).
Edit: I wanted to expand a bit more on my thoughts here.
A big risk with defi is smart contract failures. If we could somewhat mitigate that risk better than the competition perhaps that swings things a lot in the ICON public chains favour?
Maybe it’s possible we could offer insurance for our own defi smart contracts. It could be covered from an insurance fund built with P-Rep rewards and maintained in a manner that isn’t subject to to the risk of smart contract failure ie outside source? Maybe a banking partner could offer it in conjunction with us as part of the package?
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Something related to gaming. Maybe a dapp/ store that houses and is a marketplace for some in-game skins, weapons, rare drop, etc.
Non fungible Tokens. Korea are full of gamers. Maybe some sort of partnership to have this store open and have the ability to swap with someone a weapon skin or costume on Fortnite for a Korean MMO item?
Slowly add more participants. Who knows if we keep thinking bigger, you can trade in game items for gift cards, shoes, money, and real world assets.
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- A Dapp for entrance to exclusive clubs or just clubs?
Add a rating system to confirm people are not crazies! - How about a dating Dapp.
All utilizing MyIDfor verifications. Confirms the person better than Facebook. Cat-fishing is real! Less bots and fake accounts! Terrible!
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@minhx How’s progress on insurance for ICONFi? 
If we as P-Reps could find a local banking/insurance partner would your team (Mufin) be able to produce a custom version of Icon-Fi to specifically cater to that local market? KYC could be done in seconds via (govt approved) E-ID.
Could we add an additional currency too ie a coin created in partnership with the banking/insurance company?
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Still looking into it. Team is obviously swamped at the moment with high priority items such as airdrip support.
If you can send proposal, I’ll ask the team to consider.
I’m not sure what you mean by additional currency. Please elaborate. Thanks!
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Thanks Min. Much appreciated.
With regards to the currency question, I was envisioning a NZD stable coin paying returns instead of USDC/USDT. Ie I convince a NZ bank/insurance partner to operate/launch a stable coin like Circle did with USDC.
I see. It’s very difficult to support non-USD stablecoins b/c there is no liquidity in most exchanges.
Good to know, thanks for the insight!