The VLM approach is expected to become synonymous with legitimate business practices, and it will eventually be the norm for multilevel marketing.
Multilevel Marketing, or MLM, is a very controversial business structure. It is a model that facilitates legitimate business ideas and pyramid schemes alike. Viral Looping, or VLM, is designed to address these concerns and offer a more viable alternative.
The Perception of MLM Schemes
In the public eye, multilevel marketing, or MLM companies, are something to avoid altogether. Although the business model is sound, this model’s top-down narrative makes it akin to building pyramid schemes and Ponzi Schemes. Unfortunately, many companies in the MLM industry are of that nature, eroding any confidence in multilevel marketing altogether.
On paper, there’s nothing wrong with the concept of recruiting new sales representatives. Everyone who joins the matrix has their objectives to complete and receives ample incentives to keep recruiting new sales representatives as part of their downline. It creates a cascading effect of recruitment that can make businesses widely successful.
MLM programs’ main draw is how part-timers and self-employed people can still make the most of this model. Sales representatives work as hard or as little as they want to achieve success. It is also a low-risk option, as the initial startup cost for newcomers remains relatively low.
Pyramid Schemes and Trust Issues
Over the years, MLM has become synonymous with pyramid schemes and Ponzi schemes. By promising participants millions of dollars for doing very little work, many are drawn in. All it took was a sizable initial investment, and the money would be rolling in automatically. Those who were recruited by others would often not see any return on investment and lose a lot of money in the process.
Moreover, there is a lot of criticism toward legitimate MLM businesses. Many companies seem to favor hard-sell methods, which don’t always go over well with the target audience.
Even in the cryptocurrency world, there have been several MLM scams. Companies such as OneCoin and MMM Global have embraced the multilevel marketing model as a way to scam cryptocurrency enthusiasts all over the world. Billions of dollars have been lost to these pyramid schemes.
The MLM concept faces an uphill battle where public perception is concerned. The time has come to evolve this model into something more modern and trustworthy.
From MLM to Viral Looping
In this modern era, Viral Looping is the trend capable of replacing the MLM business model. At the core, both models are identical, with the key difference of empowering the users instead of the companies operating this business model. Everyone needs to be treated fairly when promoting a business or project.
With Viral Looping or VLM, there is no one at the top of the structure to manage and oversee things. Instead, everything is managed by the Jigstack DAO, a decentralized autonomous organization run by the community. Removing central figureheads from their power positions leads to more streamlined business models and a better reward structure for everyone.
Under the Jigstack DAO banner, Viral Looping is one of the multiple revenue streams provided to participants. As our DAO is structured as a conglomerate, t can govern a collection of high-quality network solutions that generate revenue. The entire governance aspect is in the hands of Jigstack users who hold the Jstak token.
Thanks to blockchain technology’s transparent nature, the Jigstack DAO will provide a system that cannot be manipulated or tricked.
Changing the Narrative
In this internet-connected world, technology and business models need to adapt or perish. Influencers have become a catalyst for driving business growth thanks to social media.
Viral Looping will do the same for running a business by recruiting sales representatives. The VLM approach will become synonymous with legitimate business practices, and it will eventually become the norm for multilevel marketing.
Thanks to cryptocurrency technology, participants in MLM projects will feel safe and appreciated. As there is no central figurehead to pull the strings and use it for nefarious purposes, Viral Looping will bring legitimacy to any company exploring this business model and looking to expand its reach.
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Brave Acquires Tailcat to Offer Private Search Alternative to Google Search and Chrome
Brave has made significant progress in its active monthly users over the past few years with even higher numbers expected to be recorded with their latest acquisition.
In a bid to provide a private alternative to Google Search and Google Chrome, Brave Software Inc has acquired the Tailcat search engine of Hubert Burda Media to push that agenda. This makes them the first private alternative to these heavyweight platforms having decided to offer their services on both Desktop and Mobile devices.
Tailcat is an open search engine and will become the backbone of the Brave search. Brave search and Brave browser will be able to track users on various websites and according to the report, they will have a respective 70% and 92% market shares. Currently, privacy has become a very important demand of users, and Brave Search and Brave Browser factored this need in their design.
Brave search has several features including its transparency. According to them, they will have no secret algorithm to cause their results to be biased. It also promises to be independent by turning to the contribution of the community in an anonymous way to produce one of the finest search engine platforms. This will add up to the already existing tech companies that relied on a lot of years and a huge amount of money to produce quality results for users.
Brave search has also been said to give privacy to users by not tracking their profile. There will also be an ad-free search and ad-support search which will give options to users. They promise to prioritize users than data and advertising industries and finally provide seamless and open service to users.
Brave has made significant progress in its active monthly users over the past few years with even higher numbers expected to be recorded with their latest acquisition and their privacy integrated Browser. They have improved on their active monthly users from $11 million to $25 million in 2021. The building of a privacy-preserving, independent, and the robust search engine will be a huge boost against the bad personal data collection habit of heavyweight tech companies.
Tailcat is built to not rely on the collection of IP addresses or personal data of users to improve upon the quality of search results. It can produce the expected quality of users whilst maintaining privacy as it is built on an independent index.
Paul-Bernhard Kallen, the Chief Executive Officer of Hubert Burda Media stated that the entire team is very excited about their technology being used by Brave to create an alternative to Google with a focus on privacy. He assured them that they will keep providing their support and be actively involved in the project. Users will have the control they deserve over their online experience as they expand their browser into a super app.
Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
TRON Ushers in Prediction Markets after Partnering with Prosper
Iva Wisher, Prosper co-founder, notes that the partnership with TRON represents a milestone in Prosper’s efforts to “collaborate with the biggest players of the DeFi world.”
TRON users will soon access cross-chain prediction markets and hedging on the platform’s burgeoning DeFi ecosystem, according to a March 3rd release announcing a partnership with Prosper, a non-custodial, cross-chain platform.
TRON, already one of the world’s largest and most popular blockchain-based operating systems, is enjoying a rapidly-expanding DeFi ecosystem, leading founder Justin Sun to emphasize a mantra of being “all in on DeFi” by continuing efforts to partner with top projects in the space.
Development and integration steps are expected to be announced in the coming weeks, but TRON users are expected to be able to utilize the native TRX coin as the basic prediction token for all features and functionalities on Prosper. Collaboration between the projects is expected to enhance liquidity, a critical component of DeFi prediction markets, as any TRX holder can maximize yield or hedge positions.
Decentralized prediction markets have rapidly grown in popularity as users realize the peer-to-peer networks all but eliminate the potential for corruption, manipulation, and efforts by a centralized authority to impact participation and scalability.
All types of prediction markets rely on a ‘wisdom of the crowd’ philosophy to guide decisions on future events like elections, the sale of a company, or price fluctuations of assets like fiat currencies, cryptocurrencies, or commodities.
However, the unique aspects of DeFi prediction platforms lead some to speculate they could become a “mega-industry” and serve as a clearinghouse for predictions that could impact and influence the entire crypto ecosystem.
Prosper has made waves in the predictions market by developing unique technology to aggregate on-chain liquidity. According to the team, reliance on binary models for liquidity provision across blockchains, alongside a short-term market model enabling randomized results for custom pools, enhances the ability of its market to become more accurate at forecasting events. Prosper liquidity providers also have access to high APRs and a free maximum insurance fund.
Iva Wisher, Prosper co-founder, notes the partnership with TRON, who acquired BitTorrent in 2018, represents a milestone in Prosper’s efforts to “collaborate with the biggest players of the DeFi world.”
Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.
Ant Group Seeks for ‘Short-Term Liquidity Solution’ to Help Employees after Cancelled IPO
The “short-term liquidity solution” will be a program that presupposes buying back some of the Ant Group employees’ shares.
Chinese online payments company Ant Group has said it is looking for a “short-term liquidity solution” to help its employees monetize shares after its cancelled initial public offering (IPO). According to the company’s executive chairman Eric Jing, the solution will take effect in April. Besides, in a post on the internal website, Ant Group’s leader promised the company would eventually go public.
The “short-term liquidity solution” will be a program to buy back some of the employees’ shares. The company’s employees had previously received share-based compensation. From 2017 to June 2020, Ant Group paid out 15 billion yuan in share-based compensation, equivalent to $2.3 billion at current exchange rates. And many of the employees expressed frustration on social media for not being able to sell their shares after Ant Group cancelled its IPO because of Chinese regulators.
Ant Group Cancelled IPO
Ant Group decided to go public back in 2020. Its IPO was supposed to take place In November 2020. Notably, the public listing was scheduled to take place simultaneously on the Hong Kong and the Shanghai Stock Exchanges. Notably, it would become the largest IPO in history.
In October, several days before the IPO date, the company recorded a huge retail investors bid of $3 trillion which equals the Gross Domestic Product (GDP) of the United Kingdom. As we reported, nearly 1.5 million retail investors trooped into the market to invest about $167.7 billion equivalent to HK$1.3 trillion at that time.
Two days before the IPO, Chinese authorities warned the company on restrictions of capital and leverage. Besides, China Securities Regulatory Commission summoned Ant Group controller Jack Ma, CEO Simon Hu, and executive chairman Eric Jing. As a result of the issues with Chinese regulators, both the Hong Kong Stock Exchange and the Shanghai Stock Exchange suspended the IPO.
Since then, Jack Ma has been in talks with regulators over the restructuring plans. In particular, it would address such issues as corporate governance, setting up a financial holding company, and the payment businesses.
Currently, Ant Group is working on shifting to a financial holding company structure.
In response to employees’ questions about Ant’s future, executive chairman Eric Jing said:
“The company will certainly become a public company. I’m always fully confident in that.”
“This rectification won’t make Ant weak, but will make us healthier, with a greater stage for growth.”
He also promised to review the staff incentive programs and roll out some measures to help solve their financial problems.
Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.
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