You go to your local cafe and ask for the regular drip you get every morning. The barista nods and puts in the order. As it’s time for you to pay, you realize that your wallet is missing, you left it home. You apologize to the Barista and ask her to pull back the order. She responds that everything is ok. Since you’re a regular at this cafe, the cup is on the house. She fulfills your order and you leave with a smile thinking what a nice spot this coffee shop is. They will certainly get your business again.
Now you might think you got a free cup of coffee but you actually didn’t. This cup of coffee might not have cost you in dollar terms but it most certainly cost you in reputation, what people call Streetcred.
Likewise, you might think the cafe obtained nothing for giving away this free cup of coffee but that’s equally untrue. They just earned something more valuable than money, the cafe has just earned some Streetcred. Their credibility, most especially in your eyes, has gone up.
Given that technology allows us to mimic already existing human behaviors, is there a way for us to replicate this real life social transaction in the digital world? Well there certainly is and that’s what CityXcape is creating, a Streetcred currency system.
So what is Streetcred? CityXcape defines Streetcred as social credibility. These two words are not arbitrary. Credibility means real, actual, substantial. Social means in relation to others. Streetcred therefore is legitimacy in the eyes of other people.
It is completely possible for something to be empirically real but lack social credibility. WeWork is arguably a real company but its social credibility is destroyed. On the other hand, the idea of religion is completely ethereal. Yet its street credibility is still renowned despite what those who are secular may believe.
So how does CityXcape tie all these social intricacies into a coherent technology the public can use? Well first CityXcape is not pushing the Streetcred crypto currency solely out of a concept. Every streetcred that comes into existence is minted out of real world actions from people using the CityXcape app. CityXcape therefore, is first and foremost a consumer app. It’s Streetcred currency is backed by specific uses cases, real users, and insightful data.
For those of you unaware of the startup, CityXcape is an app for you to find secret spots. However, CityXcape doesn’t just show you random spots. Instead the app asks you to choose a community and then reveals secret spots to you based on the World you have chosen. Worlds are communities with shared rituals. Examples of Worlds are Surfers, Bikers, Cyclist, Skater, LBGT, etc.
Once inside a world, CityXcape shows you a heatmap that indicates areas where there are secret spots for that community. Secret Spots are not only kept hidden via CityXcape’s heatmap, they also remain hidden via Worlds. In other words, Secret Spots are only visible within a particular world. Different World, different Secret Spots.
But what’s a secret spot you say? Ah Yes! A secret spot is highly subjective even within a particular world... and that's where Streetcred comes in. Anyone can add a potential secret spot on CityXcape, but what ordains it as a ‘real secret spot’ is people in the community going there and voting on its legitimacy. In other words, it is the people within that world that dictates whether or not a posted venue is a secret spot.
As a secret spot receives votes of legitimacy, both the user who added it and the users who verified it receive Streetcred for their hard work. So you see, Streetcred is mined by real work (people scavenging for new spots) and is backed by real data (people verifying candidate secret spots).
As users who add or verify secret spots in their community get more Streetcred, their reputation as contributors in that World increases. As a reward, they obtain World privileges such as the ability to sell items in that World or the power to create street teams.
Every user action on CityXcape generates data. Data that is valuable data to transit agencies, realtors, businesses, advertisers, and even regular CityXcape users. To learn about the mechanics behind our database, feel free to read the article on how CityXcape uses data.
As of today, Streetcred is mined into existence when users add or verify secret spots but mining methods will diversify. People will be able to earn Streetcred for meeting other members in their community, for performing dares at the secret spots they find, for landmarking facts about the city, and much more.
Since every mining action relates to some activity performed in the real world, people who are rich in Streetcred will be those who know and have contributed the most to their community. If you are street smart, you can start mining some Streetcred by downloading the CityXcape app. Be sure to contribute by adding or verifying secret spots to the world that you join. You can also create a world if the community you belong to isn’t listed yet on the app. The ultimate goal of checking out secret spots is to connect with other people of similar affinities in the real world in a way that feels natural and spontaneous. No meetups! No events! Just two people crossing path while exploring.
If you are not so street smart or lack the time to urban explore, you can obtain some Streetcred by buying it outright. Join our ico waitlists so that you can be notified when the time comes.
The CityXcape founders, James and William, understand that money is the most liquid commodity. Unlike most of its crypto predecessors, we want Streetcred to be a commodity first, and then evolve it into money. As a cruptocurrency, Streetcred represents reputation and social access. The amount of Streetcred you have determines your social standing in a particular world. This social standing, whether high or low, determines the people you can meet and the venues you can access. This is how real life works and this is also how CityXcape works.