App Stores of Future Will Be Based on Blockchain, Promote Transparency
Blockchain is prepared to disrupt the mobile app economy by increasing transparency and eliminating middlemen.
In 2017, app stores saw record revenues and downloads. Across both iOS and Android platforms, downloads grew by 15 percent year-over-year to reach nearly 50 billion worldwide, taking total revenue to $15 billion.
Google Play and the Apple App Store are the most widely used mobile marketplaces across the globe. It’s because of this duopoly that they are able to impose a 30% cut on all purchases, app downloads and in-app items alike.
AppCoin wants to change this by utilising Blockchain technology, disrupting the traditional app economy. This economy is worth nearly $77 bln today and may double by 2020.
What problems will it solve?
The app economy is highly inefficient due to many intermediaries between the users and developers. It’s constructed by single entities that provide highly centralised platforms. These platforms offer distribution, discovery and financial transactions but have frustratingly non-transparent policies.
These entities are also responsible for maintaining the apps and games on the store, but also enforcing security measures and guaranteeing the integrity of every transaction made. Just like many other centralised systems, this model is flawed. Malware-plagued downloads, inaccessible in-app purchases for low-end markets, data leaks and privacy concerns are a few reasons why the user experience on mobile marketplaces are increasingly filled with risks and inconveniences.
In a nutshell, there are three crucial functions of app stores: advertising, in-app purchases and app approval. Aptoide wants to move these three functions to the Blockchain and revolutionise the mobile app industry with its supercharged app store protocol, AppCoins. AppCoins will act as a medium of exchange between end-users and developers, improving user experience and market efficiency through immutable smart contracts.
How will they be solved?
In order to make advertising more transparent and affordable, AppCoins will eliminate middlemen by creating a n