0 sats \ 2 replies \ @nerd2ninja 13 Jul 2022 \ parent \ on: Releasing RGB: Smart contracts for Bitcoin and Lightning Network (Slides) bitcoin
You don't buy air miles, you buy plane tickets and you're given air miles and spend them on a service.
Should a rewards points (or in store credit) system be in sats? At the very least there should be some sort of mechanism so that the issuer can not monetize their rewards points lmao like getting in trouble for failing to provide the good or service those rewards points were promised to do and restricting in store credit from being bought and sold on the public market perhaps by backing the points with money like sats.
of course not - but thats the point. you are given these miles to apemd on luggage capacity enhancement or other perks AT the issuer's ecosystem
the benefit is digital verifiability and transparency + convertability. reputation points dont have to be backed by money - why would I as an issuer want that? they serve
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Because if you don't, your establishment is going to have a tarnished reputation as being part of "the crypto scam" because of all the bad actors using hype to dump on the market to enrich themselves. So by backing it by money, you ensure its only usefulness is still that it is used at your and no one else establishment in order to get repeat customers, but at the same time do a little bit to salvage the reputation hit of association.
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