A thought experiment
Tentop has been a thought experiment and mild obsession for nearly a decade. During that time, digital platforms have disrupted many industries by connecting buyers with sellers in a much smarter way. The problem is these platforms work on behalf of their shareholders rather than their users. Social media users, taxi drivers, restaurants, all users get squeezed. Users become owners
This got us thinking about a better and fairer way. What if we could create a platform that connected buyers with sellers in an even smarter way, where the users also became the owners. Since it is the buyers and sellers that are creating much of the value, you deserve to share in the value created. You can think of what we’re building here as a digital cooperative.
What are Blocks
Like all platforms, sellers pay a commission each time they make a sale on our platform. Every time a sale is made, a ‘token of value’ called a Block is created and shared with the buyer, seller and those that build and maintain the platform. A Block is basically a share in our platform that gets you a dividend and eventually a vote in how the platform is run.
Blocks will grow
The more you buy, sell or contribute to the platform, the more Blocks you will earn and the higher your dividend will become over time. The number of Blocks you earn in the beginning when there are fewer users will be much higher than in the future as the platform grows. The idea is that all users are aligned and incentivised to work together and share in the rewards.
Funding in place
We’ve got funding from Scottish Enterprise and Creative Informatics to get started. We’re also working with the University of Edinburgh to develop the mathematical models that will determine the optimal distribution of Blocks. This sounds complicated, but essentially we’re using maths, economics and machine learning to decide how many Blocks everyone gets.
Points for data
Before we can develop these models and start distributing Blocks, we need the data on how people use the platform and how it grows. For now, you can earn points for inviting people to join our community and for buying on the platform. The more points you earn, the more Blocks you will get when the models are ready. This is the most fruitful time to help grow the platform.
Just the beginning
We’re starting with just one brand whilst we prove that people understand the concept and want to earn Blocks. As we grow, we’ll add more brands and over time there is no limit to the products and services we can offer. What we’re really working on is a new business model for digital platforms and we’d love you to be a part of it. How you can help
“All big things start small” is a quote Jeff Bezos is fond of. We really are starting small with only one brand that sells socks. Everyone needs socks and these are made with recycled fishing nets so you can feel good when wearing them or giving them as Christmas gifts. The best way you can help right now is by sharing your unique link with likeminded people or buying socks.