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One Cryptocurrency Idea To GROW 9Mobile

This is crazy but it does not matter because there are many crazy people running the world now.  If 9Mobile hires my company to fix its growth, I would throw one small strategy. I do hope they get in touch because there are great ideas around to accelerate growth.

Here is one: create a blockchain/cryptocurrency-based loyalty program where any customer could accrue a cryptocurrency by recharging airtime. I would call that cryptocurrency Nyja. People, if companies can wake up and issue Initial Coin Offering ["an unregulated means by which funds are raised for a new cryptocurrency venture"], which means they are making themselves central banks, I am very confident that any company can create a cryptocurrency-based loyalty program.

When that is done, I would expect 6 million customers to switch to 9Mobile within a year because that is the company that is giving "Bitcoin" to people. You can use that Nyja coin to buy future airtime. You can also trade it to others. Nyja would be redeemable only in 9Mobile ecosystems. It would be more advanced than the current airtime bonus system since you can make that Nyja a platform for other things.

We have identified 6 enablers to make this work in Nigeria. Our model shows that it could move numbers.

We continue to spend time to understand how blockchain/cryptocurrency can help clients invent new business models. There are 9 core ways firms can unleash innovation at peripheral levels [no central bank issues] based on insights from Fasmicro Lab.

Oga - love your idea!

This would be a logical extension of the current gray market of trading mobile airtime as a psuedo-currency. Wondering if the CBN will allow a crypto-currency to co-exist with Naira?

Inshallah.......

 

It is a currency if you make it a means of exchange. I do not think there is any issue with CBN on this if you keep the ecosystem bounded within the telco.

The branding is KEY. I'll tell u what; remove anything like "currency" in the name then there shouldn't be problem with the government.

@Ndubuisi this your idea is so damn good. CBN is already aware of crypto-currency so it should not be an issue. 6 million is a small number to what I know that can happen since crypto-currency is in vogue now.

Once again Ndubuisi, I Adolf my hat for you and salute...