We want to crowd-source quality opinions, collect consumer's data (know who/where/when/why they are drinking the wine), and convert consumers into interested stakeholders (owners).
How does it work for a first time drinker:
1. The drinker buys a bottle of wine. This can be through the traditional channel (off a menu in a restaurant, for example), or by exchanging winecoin for the bottle.
2. The drinker reads a "click-bait" phrase on the back label, such as: "if you drink this bottle, you own it, see the QR code or URL for details."
3. The drinker is directed to the site, which explains the program and directed to download the app. This is the same app that we use for buying/selling/trading winecoin.
4. The drinker needs to input personal information to register with the app: name, email, activate notifications, location, picture, etc.
5. The app directs the drinker to read the unique identifier from the bottle.
6. The app directs the drinker to take a selfie, and answer some questions.
7. Finally, the app shows the drinker a confirmation that they are now shareholders in the company, and displays their shares balance.
8. Drinkers receive a welcome email explaining more details about the company, the program, etc.
For recurring drinkers, the process is similar, but the QR reader is built into the app and the drinker uses this app in the future to claim additional shares without needing to re-register.
What else does the app do?
The app uses the wallet to store the shares. The shares are simply another type of coin (stockcoin) that represent a fraction of the company, and symbolically represents 1 grape from the vineyard, from an initial 1,200,000 stock issue.
The rules of the company, as stipulated in the Managing the Business section, will define rules, that might include that the equivalent of 25% of profits for the year will be distributed to shareholders (stockcoin holders) as dividends, to be paid in winecoin. Another 25% of the profits might be spent on stock repurchasing, based on the current market value of the stockcoin. These rules could be changed, as voted upon by stockholders in a DAO model.
The bylaws of the company will be defined in a collection of smart contracts based on the OpenZeppelin and Aragon.network frameworks. These libraries will contain the company rules, and allow stake holders (stock-coin owners) to make governance decisions.
The app allows us to do the following stockcoin operations:
- Scan the QR code on the bottle
- Track the stockcoin positions and valuation.
- Send or Receive stockcoin.
- Take a selfie.
- Answer questions or star ratings.
- Provide location.
- Input the unique codes from the bottle.
Functional requirements for the wallet app
Scan QR code on bottle to redeem StockCoin
Input a specific numerical identifier that is hidden in the bottle
See the current market price of the Stockcoin as compared to other currencies
Take a photo, and answer some questions after they redeem of the bottle
Send StockCoin to an address (another users wallet)
Ask for permission to use location services.