Unanswered Questions
There are still many questions that need more probing and discussion.
What information about consumers will be publicly available on the blockchain? How does MuCo ensure privacy is maintained? If transaction details are published, then it may be possible to trace an individual. So, perhaps only a wallet address and the quantum of the trade is what should be published.
Should Web 2.0 Mu points and Web3 Mu tokens co-exist? Some countries may introduce restrictions on anything crypto; so just the use of encryption may put Mu in their crosshairs.
What KYC will be needed? Is an email address or mobile number good enough? In future, is a crypto wallet address the answer to ensure even greater anonymity? Is anonymity and privacy really important? After all, this is an exchange between brands and customers.
Should Mu be tradeable against other crypto tokens? A related question: should Mu conversion to fiat currency be allowed? (I have argued against both purely to guard against taxes, but this may need a rethink.)
Should Mu decay over time? Many loyalty programs expire unused points. My take: Mu should not decay or expire.
There is the big question of the 0🡪1 problem. How does MuCo get started? Who are its initial anchor partners? On this hinges its future success.
What if brands want to issue NFTs – XRTs, for example? Should MuCo facilitate that? [See Part 5 of Extreme Retention = Profit-centric Marketing for a discussion on XRTs.]
How will MuCo governance work once it moves to a Web3 entity? Getting millions of token holders to vote could make decision-making quite messy! Will MuCo need a new class of governance tokens? Should the Web3 version of MuCo be a DAO, a foundation, or a for-profit entity? What are the pros and cons of each?
Are they any examples of other entities doing something like this? (When I have asked people, I have been frequently referred to the Brave browser and its Basic Attention Token. There is a big difference: BAT is for anonymous users, while Mu is about interactions between a brand and its existing and known customers.)
How can Mu be relevant in the metaverse future?
What future applications can be built by MuCo? It will have a direct-to-consumer relationship, and will have usage and interest data. Can it help brands with acquisition of new customers and bypassing the Big Tech tax?
**
There are perhaps many more. As with any new idea, each new thought brings with it a new set of questions. Some are perhaps unanswerable and unknowable at this point, and will become clearer only after the journey has begun. What is exciting about MuCo is that it can solve a real problem (or perhaps two): for brands, attention recession and data poverty; for customers, the soft-touch multi-dimensional engagement with brands beyond just the transaction. And at the intersection is a $200 billion ‘adwaste’ opportunity. In a world where profits are once again coming centrestage, MuCo is an idea whose time has come!
