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Those exist already. Gift cards, store credit, Disney dollars. They must even have some working counterfeit and double spend prevention or people would have bee

Those exist already. Gift cards, store credit, Disney dollars. They must even have some working counterfeit and double spend prevention or people would have been exploiting them. All crypto coins seem to add is being issued and stored on a blockchain, but that doesn't seem necessary if there is a central authority issuing the official coin anyway. How do companies not have the ability to devalue them? They have total pricing control over the only physical good you can buy with them.

somethoughts 5y ago
I'm picturing it the same way BTC/Dogecoin/Shibacoins are tied to the USD in that you as an owner can freely convert back and forth at the going exchange rate and they would be run with a predefined supply algorithm. And yes Nike would have the ability to devalue the Nikecoins but it'd actually not be in there best interest to do so because Nikecoin holders would then just cash out and offramp to USD. You'd then have negative PR associated with the brand versus free PR when Nikecoin increased in value. Also if Nike itself maintains ownership of a portion of the ICO, then they'd be incentivized not to devalue the Nikecoin.