Introducing Cryptocurrency to the Local Population

Reading Time: 2 minutes ;  Published: 2 years ago on May 26, 2020

The cryptocurrency educational video is the suggested method to introduce the local population to the coins of the participating crypto projects and how to use cryptocurrency at scale. It is recommended that free crypto is distributed after watching the educational video.

To make the onboarding process as simple as possible, it is advised that this operates on a first come, first served basis. It is also recommended that the date and time of the local onboarding sessions is advertised through leaflets and posters distributed in the case study area.

How will onboarding work?

TotalCrypto advises that participating crypto projects follow the following recommendations and processes to onboard locals in the case study area:

  • An onboarding group size will be determined by the size of the local office and the number of local employees employed at the exchange. The first X number of people to be in the line at the local office will get the slots for that session.
  • Locals should be ushered into one of the incubator rooms with a TV and the educational video ready to play. No other people will be permitted into the office whilst the onboarding process is in session. 
  • The educational video will be played and a Q&A session will be held afterwards. 
  • Those locals wanting to participate in the free crypto giveaway will then set up their wallets in a workshop overseen by exchange staff.
  • Once participating locals have their wallets set up, they should be asked to form a line at the exchange counter. Here, it is recommended that the following data is collected:
    • Their fingerprint and name should be taken to serve as a form of ID (this also prevents double claims of free cryptocurrency).
    • Email should be collected if participants have one. 
    • They should be asked if they are an entrepreneur or not. If so, it is advised that they are asked for an email address or shown how to make one.
    • Entrepreneurs can then be asked if they are interested in applying for the incubator program. 
  • The local’s free crypto should then be sent to their new wallet by the exchange employee. This means that for every onboarded local we should have the following data: Name, email (if they have one), fingerprint ID, self certified entrepreneurial status, interest in incubator program and their Account Number (if Nimiq participate in this initiative).
  • Locals not wanting to participate in the program are free to leave the office at anytime. Once a person has been successfully onboarded then they will naturally leave.

The process is replicated until there is no more local demand for cryptocurrency onboarding. Once done, a final entrepreneur and incubee applicant mailing list can be constructed. The data collected can also be shared with the academic community for research purposes. 

Next Section – Onboarding Local Entrepreneurs