Noble: Corporate Colored Coins

'Applying Blockchain Technology to Traditional Business Structures as an Experimental Step towards Distributed Autonomous Corporations (DACs)'

5. Exclusivity

First published November 2014
Work in progress
<< 4. Utility6. Incentive to Participate >>

5. Exclusivity

Exclusivity is the conscious culture change towards promoting and rewarding Noble holders over the cryptocurrency community in general. What this means is that discounts, items, free shipping, services and information typically given for free is instead being used to encourage and reward the Noble community specifically. Our three-tiered exclusivity system is being titled ‘Nobility’ and is expected to grow as our services evolve and potential rewards are proposed, funded and delivered. It will be available for both NOBL and NOXT holders. By holding a set number of coins medium-long term, community members gain access to increasingly powerful perks and rewards.

  • Free access to all publications (including e-books &hardcover)
  • Access to products at bulk price and limited specials
  • Total 10% discount on Marketplace/gift cards
  • Access to group buys
  • Total 7.5% discount on Marketplace/gift cards
  • Free shipping
  • Free postage and handling
  • Free escrow
  • Total 5% discount on Marketplace/gift cards

Initially, exclusivity focuses on service perks and discounts similar to a crowd funding Kickstarter model in order to keep it distinctly different to equity-based models. While we continue to explore methods of comfortably engaging in ‘profit-sharing’ and initiatives that more closely represent ‘dividends’, legal uncertainty keeps this theoretical for now. Funding will be going towards legal and regulatory research, registrations, licensing, advice and growth in this area in order to better understand and evolve with the industry in the hope we may one day merge currency, cryptography, utility, equity and dividends. This sort of future however remains highly theoretical and will take time to mature for the industry as a whole.

However, as the legal and regulatory framework around colored coins and cryptocurrencies evolve to allow for recognized profit-sharing activities the list of exclusive benefits for being involved in a crypto-ecosystem are expected to grow. It is important to understand that legal clarification needs to be sought for new financial technology, relationships and systems. Despite being distinctly different from securities, elements of cryptocurrencies and colored coins cannot too closely resemble them too early or we run into potential issues. Some of the most challenging work in the industry will revolve around developing frameworks and procedures that allow these novel approaches to currency to remain globally compliant in an ever-evolving regulatory space.

5.2: Registration for ‘Nobility’

Registrations for the exclusivity programs will be done manually by confirming ownership of wallet addresses. Dealing with consumers directly allows for answering questions, accommodating feedback and build trust on a personal level, and helps with building long-term relationships for moving cryptocurrency forward without resorting to the ‘shadier’ side of practices. Registrations do not have to be done using personal details despite preferring them for future AML/KYC and regulatory initiatives (at this stage all voluntary – things are far too early to promote those sorts of identity involvement). An alias or website/marketplace username can be tied to accounts and discounts/perks applied automatically on orders.

Membership registration will be available immediately from the date of the crowd fund, and is only cancelled if the registered wallet goes for more than a week with less than the required amount for that tier. Gaining access to the ‘Nobility’ exclusivity program for new members will require holding the necessary amount for two (2) weeks or longer. This waiting period is not applied to those involved in the crowd fund and for the first two weeks, meaning registrations are open immediately.

While a limit on monthly rewards may in the future be capped, this will only be considered for blatantly obvious abuse of the perk and reward system (for example: a maximum limit of $1,000.00 in savings per individual per month). The system and reward system will be continuously refined in order to reward long-term supporters, encourage newcomers to participate, as well as prevent high levels of abuse.

5.3: Benefits of the Exclusivity Program

‘Nobility’ benefits those who wish to take advantage of Noble utilities and services by providing ongoing discounts, perks and benefits of using our coins over competitors. This rewards and perks system is expected to grow as the old saying ‘what’s in it for me?’ becomes increasingly important in persuading an individual’s choice of currency. The long-term challenge in providing these benefits is how to maintain their self-sufficiency, hence the new year’s focus on real-world business, corporate and financial growth.

For individuals not particularly interested in the utility and services provided, the coin requirement for each tier of rewards encourages scarcity. By encouraging supporters hold on to a fixed amount of coins in order to gain access to Nobility exclusivity we indirectly support the idea of coin scarcity.

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