Let’s start diving in to how Tribute can improve lives.
What specific real-world problem(s) are we trying to solve?
A. Poor financial mgmt, solved by demonstrating the “power” of savings. Lots of education-y /personal management products could be built around this. Think “mint finance 3.0” or a new feature for those micro-savings apps that round up your credit card purchase and put them into savings. This is definitely a psychology-focused area to explore.
B. Creating additional choices for Sharia-compliant interest-bearing assets.
Based on my limited research, currently these options are available only to wealthy, banked, citizens of specific countries. Maybe worth exploring if we determine there is a need for more frictionless options- which Tribute would be an excellent candidate for.
C. Enabling real-time payments for X market which isn’t currently possible.
What are the current barriers to streaming / subscription payments? Do lower fees and more “control” provide enough reasons to switch to a Tribute method? What are the most popular methods of p2p subscription/streaming in developing countries, and what are the major challenges (trust, validation, technical)?
D. Use interest, without changing the underlying principal
Escrow, Lending circles (p2p micro-loans popular in developing areas), any other micro-finance areas?