Miners

Miners

Social Capital

Customer networks, peer networks and trust, industry associations like the GSMA, community ties, online communities, employee networks, other stakers and miners serve as social capital for stakers.

Stakers: Social Capital

Peer networks and trust, customer support networks, online user-communities, financial literacy programs, other stakers, and other miner groups serve as just some of the social capital for stakers.

  • Peer Networks and Trust: Customers often rely on their personal networks when choosing and using mobile financial services. Friends, family members, and peers can provide trusted recommendations, share their experiences, or offer help when learning to use these services.
  • Customer Networks: Mobile application providers often have customer service and support networks in place to assist users. These networks can form a kind of social capital, providing users with reliable information and support. Businesses often have extensive networks of customers who they can engage with regularly. These customers can provide valuable feedback, word-of-mouth referrals, and repeat business.
  • Industry Associations: Many businesses are part of local or national industry associations, such as the GSMA, which provide opportunities for networking, sharing best practices, and collective advocacy.
  • Supplier Relationships: Businesses often have strong relationships with suppliers, which can help ensure reliable access to goods, favorable terms, and support when issues arise.
  • Community Ties: Businesses often have strong ties to their local communities, participating in community events, supporting local causes, and building relationships with other local businesses.
  • Online User Communities: Many financial service providers host online forums or communities where users can ask questions, share advice, and provide feedback. These communities can be a valuable source of peer support and information. Many businesses have a presence on social media and other online platforms, where they can interact with customers, share updates, and build a community around their brand.
  • Employee Networks: Businesses also have networks of employees who can serve as ambassadors for the business, engage with customers, and contribute to a positive company culture.
  • Financial Literacy Programs: Many organizations and nonprofits offer programs to enhance financial literacy, often with a focus on digital and mobile financial services. These programs can be an important form of social capital, helping users make informed decisions and use these services effectively.
  • Staker Miner Group: Stakers rely on each other to provide and use referral codes, to vote for proper council members to represent their interests, and collaborate with representatives to share and implement their preferences in policy-making.
  • Other Miner Groups: Stakers collaborate with other miner networks in various settings to produce the system, allocate and harvest issuance, and with other groups in governance and management processes.
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