BRIFS.co SEES the $160 billion gift card market as a perfect use case for smart contracts.
Here's what we're doing about it:
BRIFS.co has bootstrapped a fully functioning site which allows users to purchase gift cards to many of the nation's top brands, at prices lower than anywhere else. Feel free to take a look and kick the tires of our demo site here.
What we need now is community and capital to build a critical mass of interest which can support a team to build the smart contracts needed to facilitate the buying and selling of gift card balances using the blockchain.
Community and Capital
The word "community" is overused to such a degree that its meaning is often blurred into near-meaninglessness. At BRIFS.co it has a meaning. "Community" to us are the people who understand the problem BRIFS is trying to solve using the blockchain enough to want to help us solve it.
Help can be as simple as asking us questions, challenging our underlying assumptions, or as involved as actually rolling up your sleeves and joining the team, or contributing your hard-earned capital to help us keep the lights on so we can keep hitting milestones on our roadmap. Help is what makes our community and our role is to make helping us fun, rewarding, and easy — aligning any and all incentives along the way. We don't see gift cards and the blockchain as being at all about us; it's about solving the problem of gift card balances being locked up by retailers, and those retailers not seeing the full benefit of the gift card funds that they transact with with currently and going forward.
The Scale and Shape of the Problem
Be not mistaken, building a smart contract enabled exchange for gift card values is indeed a very big and hard problem. That's a great thing though because, to the community of people that solve problems of this magnitude (gift cards are an estimated $180 billion a year industry in the US alone) and complexity (there are numerous technical and economic), the upside has historically been astounding. This upside is due to the nature of problems like this tend to have winner-take-most outcomes. There are a number of reasons why this is the case, but perhaps the foremost reason is that speed to market allows for an early advantage in the form of market liquidity, which is very difficult for newcomers/challengers to ever catchup to or even gain much traction to begin with. Search advertising, social media advertising, peer-to-peer and b2c marketplaces are all examples of winner-take-most markets which have a similar liquidity dynamic.
Who is on the BRIFS.co team?
It's just me at the moment, I'm Charlie Muir. I founded and self-funded BRIFS.co while working as Growth Lead for ListReports.com and have transitioned into a contracting role while do the marathon-like work of community building and fund-rasing. I started BRIFS.co in Orange County, California, but am based out of Scottsdale, AZ now and on a go-forward basis.
I'll be updating this along the way and be adding key team members as their participation becomes official.
How can I help?
Interested in joining the community or even the team itself?! Let's book a time to chat about the ways you'd like to be involved:
Here is my Calendly, please pick a time and date that works for you and let's see if we can't be the people that solve this problem: