1 min read

Discount blockchain

"Discount" is a dirty word, isn't it? It makes you think that whatever you're buying is cheap. It's not going to last long. It's probably not worth the normal price if they can sell it at the discount price.

Despite this perception, Black Friday is a huge day for shopping thanks to deep, predictable discounts. Customers wait a few weeks to buy things they need because they know the discount is coming.

Manufacturers will make inexpensive versions of popular items just so they can sell them on Black Friday. Retailers will hike up prices in the weeks leading up to the event just so they can say they cut prices for the event.

Ultimately, none of this matters. People love feeling like they got a deal. They want to be a smart shopper. They want to save big. Does that justify sellers deceiving buyers? No. It just means there's demand for discounts.

Blockchains are notoriously expensive to use thanks to gas fees.

Blockchains are expensive to operate thanks to Proof of Work and the toll it takes on the environment.

Blockchains are expensive to understand for the average person.

These conditions have created an environment where only the elite are capable of using, operating, and understanding this technology. Average people scoff at the scams, the environmental impact, the idiots buying monkey pictures, and just about everything else about crypto.

If blockchains and dApps want to make a dent in mass market appeal, they have to offer steep discounts from the norm.


P.S. For more on discounting, check out Sam Walton's autobiography. Walmart is a massive discounting retailer today because they got in the minds and hearts of the average consumer. There's a lot of great lessons for any industry.