Without getting into politics on coin algorithms can you build your product on an existing chain to speed up development?
The idea from last night, yes I think so. I'm investigating that now. It is a tangent from the work I was doing.
However I probably can't monetize it for myself if I build it on another chain (unless I do it incorrectly as the DAO did, but then that kills the point of doing it). So it sort of kills my incentive to do it. But I am trying to think of a solution.
While it may not be ideal, it would bring the product to life much quicker and if successful you may be able to attract other developers to later build a new chain from scratch?
Exactly my thought. And it doesn't reveal my other work, just delays it.
I'll add another reason why I can see real world usage with BitShares, Nxt, or any chain that can do a UIA. Endless possibilities for developers with these tokens. One of the hottest area's in the bar and restaurant industry in regards to marketing and customer retention is rewards programs. Spend x amount and get x amount off your next tab, simple. This is all kept track via the customers credit card on the back end, 100% automated. I could go on and on, just pointing out the fact there is much more to crypto then most think...
But the problem is have you identified something which can only be done well with crypto. Bitcoin is the only way to nefariously move funds electronically. Your use case has to be something that can't already be done well enough, otherwise users won't switch.
What is the pre-existing problem with credit cards and rewards programs that needs a solution? Because not everyone has a credit card? But then you have the chicken and egg dilemma.