BitBounce: Revolutionizing the Email Model Using Blockchain
Emails have always been considered one of the biggest breakthroughs of the internet. It is in fact considered one of the most important applications on the internet as well as the most widely utilized. But the email model is ripe for a disruption since there is so much that is wrong with it. The first thing that springs to mind has got to be spam email messages.
The Cost of Spam and Cold Emailing
Unfortunately, spam emails are not just annoying. They come at the cost of $20 billion annually to the global economy. This means that we all pay for it one way or another. They also take up a lot of valuable space, at times even pushing important communication down to oblivion while they fill up the top page.
There is also the opportunity cost of time spent going through the unsolicited messages and the cost of buying anti-spam software. An even more costly aspect of unwanted email is that in a bid to rid your life of the annoying junk, you might end up flagging important emails by mistake.
The BitBounce Solution
BitBounce steps in where the existing authorities and frameworks have been unable to curb this growing nuisance. It establishes a new industry where those wishing to send unsolicited email messages have to pay so that the message reaches the recipient and gets a response.
This fee serves as compensation for the recipient who might gladly allocate time to read it through and respond thanks to the incentive offered. This double-edged approach ensures that email recipients can reduce the cost of spam and senders have a higher chance of achieving their intended objectives with the emails they send.
It proposes the use of monetary value in the place of the popular yet ineffective social exchange theory. This makes it easy to contact virtually anyone including VIPs using a specified value.
BitBounce operations are carried out using the native token, Credo. BitBounce filters out unwanted emails and facilitates the payment mechanism to ensure the message goes through or to elicit a response. On the other hand, Credo functions as the unit of exchange on the platform and is the currency in which recipients get compensation.
How it Works
The system is designed to integrate with the existing email infrastructure in spite of it being built on the blockchain framework. This means that implementing it is easy and free from complexities. It also implies that the model makes use of the unique innovations associated with the blockchain technology.
The spam filter feature works using a number of steps. An email user will sign up to the BitBounce platform and add their email account. They will then either sync existing contacts or add them manually to the whitelist.
Anyone who is on the whitelist will not have any problem getting emails delivered. But all others will be sent to the “unpaid” folder and an auto-response message will be sent to the sender. They can either request to join the whitelist, use a promo code or pay to get their message delivered.
When sending emails and seeking an incentivized response, the sender will either pay their own set fee or a listed VIP price on the network. When they pay, their email gets delivered and they get an alert to inform them of a cryptocurrency amount being held in escrow until they respond. A response will trigger the release of the funds into their account.
The Crucial Role of Credo Tokens
Even though the concept of using payments as a means to control spam is not totally new, the cryptographic token model is what has made it feasible. The use of a cryptographic token is a great plus because it means that transactions carried out on the network are confirmed in a matter of seconds or minutes. Meanwhile, using fiat currency would mean waiting days and this would be impractical for email senders as most messages require immediate action or response from the recipient.
Additionally, the use of Credo tokens makes it possible to exercise some control over the currency and implement a reward structure for the networks’ users through the proof of usage distribution framework.
BitBounce has dared to explore where many other models have been unsuccessful. The fact that the project is based on the technologically advanced blockchain model is a key reason to expect success. Additionally, the platform’s incentive model has considered all angles and is set to transform email into an independent industry. The model could forever alter the path of email marketing and lead to higher conversion rates for marketers and sales teams that opt to use it.