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1World Online: Redefining Customer Engagement and Retention with Blockchain
The blockchain technology has undoubtedly redefined the world of low friction value transfer and 1World Online, a Silicon Valley-based blockchain-powered engagement and monetization platform for publishers and brands has been on the forefront of this transformation. After his previously successful venture, 4Home was acquired by Motorola, Alex Fedosseev, the serial entrepreneur, came up with the idea to introduce the blockchain technology to the media tech industry, through the 1World Online platform.
1World: The Inception
1World: The Inception
After over twenty-two years in Silicon Valley and three successful startups and exits in telecom, smart home, and the IoT space respectively, I still felt the need for a truly democratic, flexible, fast, and affordable way to understand public option on varied topics of interest. So, I decided to create something that is solid and allows the decentralized data collection of people’s opinion on everything from recent political events, sports event, or just topics of interest for any brand in an engaging format with high quality, fast, and practical results. And that’s how 1World came into existence as a decentralized feedback collection engine. Later, we played different business models including subscription, advertising, and then came the conclusion that many brands are willing to do feedback collection together with promotion, so essentially, we are combining budgets from research and marketing into one unified campaign.
Challenges with Traditional Systems and Opportunities with 1World
There are many organizations stuck with traditional centralized systems trying to find ways for organic feedback collection. We address the three significant challenges—engagement for users, retention for publishers, and quality feedback for brands. With our tools like polls, surveys, and quizzes, a customer can express his opinion and can see what other people think about it. It makes people more attached to the websites, so we increase engagement and boost the retention rate on both publisher and brand side. Organic feedback collection lets them know their potential customers, and customers’ thought about industry trends. Our goal is to create something good for the users, for the publishers, and the brands through our decentralized, engagement, and monetization engine.
It is good for brands to get feedback quickly and of high quality from people who can express something about their products and services and it is good for publishers and for outlets that publish indiscretion as a part of the experience as they increase engagement and motivate people to spend more time on their site. Today, blockchain does precisely the same through its reliable infrastructure. So, 1World culture is a perfect fit for blockchain.
Token Economy
Our goal is to create something good for the users, for the publishers, and the brands through our decentralized, engagement, and monetization engine
In 2012, when we started developing the system, we defined points system that allows anybody to answer questions, share results, and contribute to the content; each action on the 1World platform was rewarded with points. In 2017, we did our Initial Coin Offering and now, we have a real incentive for all participants, so if you are reading on the site, you vote, share or contribute, you earn points and once you get the threshold, they convert into tokens which become real assets, which you can use inside of the system, or you can use in exchange for commercial value items as per your needs like gift cards or coupons.
1World Tools on a Roll
We have been working with a San Francisco Media Company since 2013. When we started, the average dwell time—the average time on the site—was just about one minute. They had a loyal audience but the dwell time on the site was not great. We doubled it. After they deployed 1World tools, their reach then went all the way to two million, and it stayed that way. We also did a project with Walmart. They had a massive controversy about building a new mall in Florida and had to face local protesters. They used 1World tools to do the organic data collection across many different outlets and then collected the datasets with the feedbacks. We used it for a debate where we presented two sides to the story: the pros and cons of the construction, to realize that most of the locals were in support when they got the right information. The case got solved once the local authorities got the data. The other prominent companies that license 1World tools for understanding appropriate feedback include IBM Watson and Immerse.
1World’s Ideology for Global Network
The most important thing is to connect enough demand and supply. Supply needs publishers; the more publishers they have in the network, better is the sample size for feedback collection. In demand side, along with the brands that are using our solutions, we run promotional advertising campaigns, feedback collection campaigns for the brand in order to grow both demand and supply. We envision becoming the tool that replaces Google Adsense in advertising for ICO essentially, where instead of Google, companies will use 1World tools’ as it comes with a vast network, excellent interactive experiences, and token economy.
We want people to own their data, and we will continue providing safe, decentralized data across our network. We want to turn everything back to people, have them control their data, let them decide who can see their data. If any brand wants to access the customers’ data, they will have to pay the customer first, and only then get access to the data. That’s our vision , and that’s why we believe in a decentralized global network.
