Last week, Ezri Williams finished her internship at Quantoz. Over the past months, Ezri studied the social-psychological factors that influence people’s tendency to use stablecoin as a local payment method. She conducted a study and developed a blueprint for a campaign plan on how the local people of Terheijden, a green, self-sustainable village in the south of the Netherlands, could be encouraged to use a stablecoin app to make payments for local, sustainable services.
You can find the management summary below.
We thank Ezri for her dedication and commitment over the past months and wish her all the best in her future career!
Climate change is one of the biggest issues the world faces today. One of the main reasons why it is so challenging to solve, is that people do not feel like their efforts to act sustainably, have visible results. There is no direct feedback. What if we could find ways to make sustainability interactive?
Terheijden is a village that is making its way towards complete self-sufficient green energy production. While this is admirable, the energy provider struggles with lack of engagement from the villagers. Looking for ways to invest in the local community, we found that stablecoin could be an interesting way to boost engagement and stimulate the local economy through interactive sustainability.
Stablecoin would serve as a local (regionally bound) payment method, where households receive coins (sustainable dividend) to spend at local and sustainable companies. This modern take on local investment is safe and efficient, built on blockchain technology. Quantoz provides a ready-to-use solution: Stablecoin As A Service. To make stablecoin payments, users will have to install an app. This can form a psychological barrier.
A two-dimensional psychological influence intervention led to the following advice:
- Create emphasis on information that communicates the function and relevance of the stablecoin program and app;
- Create emphasis on congruence in app and target group values;
- Create positive associations between (1) safety and trustworthiness and (2) the stablecoin service and app;
- Create brand/company familiarity and trust through multiple exposure.
Usage of manuals and instruction videos, as well as role models in visual advertisement and multiple exposure are encouraged as means to enhance the abovementioned factors when designing a campaign.