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"Bitcoin is gamification"

Peer-to-peer transactions are becoming more and more common in this day and age marked by the sharing economy revolution. One complimentary “product” that has recently emerged and will likely become more accepted worldwide as well as and linked to collaborative consumption platforms is Bitcoin. This decentralized digital currency is disrupting traditional foreign exchange markets and while its user base is continually growing many people still question its value and reliability. An interesting analysis, presented by professor Kevin Werbach, illustrates that much of that success is due to Bitcoin’s ability to gamify trust.

Gamification is an established practice nowadays and continually helping to build systems that engage people, encouraging them to perform otherwise menial activities -transforming difficult or annoying tasks into fun objectives and challenges. In his analysis Professor Werbach comes to the conclusion that “Bitcoin is gamification” and lays out a very compelling case for why it has been successful and will likely continue to thrive. Applying the points presented by Werbach to Entrusters.com, it is reasonable to say that we are also a company seeking to gamify trust (albeit in a different way), drawing to users to our community, engaging them, and ultimately motivating them to help each other out. While we are far from achieving the success of Bitcoin, we are encouraged by its traction and are hopeful for a future where our gamification techniques produce similar results.

Check the original article here.

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