I guess that I need to put together my reasons for building Maza Swarm.net.
I really like the opportunities created by crypto currencies. Besides Bitcoin, I like this alt-coin named Maza. It was created to be a currency for indigenous people like the Native Americans of the United States of America. Unlike Bitcoin, this coin is currently being created at a rate of 500 every 2 minutes. I was not around when they made this decision. There are currently 1.59 Billion Maza in existence on the network. At the current market price it would cost over $100k USD to buy all of Maza if everyone decided to sell. With all of that in mind, I decided to create Maza Swarm as a service that accepts Maza as payment and pays users in Maza for participating in posts. In short, it is a way for the community to earn Maza from the miners of Maza without having to personally pay in traditional currency of the US dollar of which they have little.
As I sat and thought about ways to increase the value of Maza. Many situations came back to a catch-22 in which several things need to happen at one time for this to happen. There needs to be a good or service that people want and can use to get it.
In most crypto, a miner computes figures to win the contest of who creates the next block. They then get the reward which is 500 Maza today (January 2020). Next, people run to online exchanges which trade one currency for another. In our case this is Bitcoin for Maza. The market price is determined by how many people are willing to buy and how much they will pay to be in the front of the line (their bid). So with 1.59 Billion Maza in existence and very few buyers the price bounces around 100 Maza for a US penny.
For a project like Maza Swarm.net, a price like 100 Maza for a penny is a starting point. There is no value to the reports that we generate, yet. So you can test out ideas for as little as 14 cents worth of Maza(2,000). Also, you can earn Maza by performing feedback (clicking on the symbols underneath the task images) which further reduces your cost of entry. This project pays people and requests revenue from clients.
I also think with this project, I could possibly introduce a way for people to get paid for creating data for AI. As AI continues to take away jobs from people, maybe Maza Swarm could combine the two where people create some type of data, continually created by people, that could be used in an AI system. Creating income for people and allowing AI to grow without hurting the income of groups of people. Yeah, I know, this is a stretch goal.
People ask “What is Crypto good for”? I think this type of project is what they can excel at. Cross boarder payments for digital products and services. I think many have made the error of developing their own “coin” for their service. I am going to pick up and use an old coin (4+ years) that many have overlooked that has a social purpose.
I also feel drawn to the idea of the Wisdom of Crowds, so that has an influence in this project. Maybe people coming together on this platform can create the value that will help Maza and it’s community out of poverty.
Maybe I won’t find anything and this will all fail, but I feel like I need to try and I don’t feel an urge to do other things as I do working on this project. Or I could end up like this guy. [ha, ha]
Visit MazaSwarm.net and see what we are up to!