Is CRED working towards building ‘CRED’-ible communities?
Can the next move of CRED be to transform their trustworthy customers into close-knit credible communities?
What according to you is the most important element which binds us together in a community – It’s “TRUST!
You belong to my caste – you are trustworthy for me. You belong to my clan in PUBG – you are trustworthy for me. You have been working with me since very long – you are trustworthy for me.
But how do you trust someone for matters of money?
You may trust your bank for your money safekeeping – but that’s a third-party entity. Can burst any day just like PMC Bank.
You may trust your family for financial needs or suggestions – but that’s also based on your subjectivity. Pretty common nowadays, love and trust can fall apart.
So, what’s the solution?
Something like eliminating middle party for financial transactions – Hey, that’s what exactly is being done by Cryptocurrencies (like the Bitcoin).
And also bringing together people who have respect for money along with its transaction timelines. – And isn’t it what exactly CRED is doing?
No, it’s not confusing! Remember, money is a medium of exchange and it loses value when not exchanged at right point of time – concept of inflation. And to not develop a habit of delaying monetary exchange deadlines, there are penalties. If you never have to pay penalties, congrats, you belong to a premium community of people and it’s CRED-ible in terms of money matters… 👏👏👏
“I’ve never defaulted on my bills. Rather I’ve been an early money obligation releaser – got an Income tax gold certificate too for this. How would CRED be beneficial for me?”
You answered the question yourself: Do you have any community of gold certificate owners of Income Tax department? No. Apart from your data being sold to credit card companies and you receiving infinite calls, I’m sure there wasn’t any benefit of this.
But CRED brings good people like you together. Remember only “GOOD” people! And all of you good people can then do so much together. Earn together (coins), shop together (burn those coins) and the best part – FLAUNT together!
“I got this from CRED bro! So classy…”
“Really? Lucky you! I don’t have that good a credit score to be a part of that”
And begins a FOMO chain…
Customers want access to CRED to become a part of elite community and Companies want access to CRED customers to have the best targeted audience.
Pehle CRED aapke peeche, phir aap CRED ke peeche! So much fun!
“But a good community is one which does a lot of things together. It’s only shopping that CRED gives?”
That’s the most valid question one could have asked. And that what leads to the next target which CRED would have been looking for: Making sub CRED-ible communities within the bigger CRED-ible community.
Just an example of this: CRED-chat. When the world is fighting over data privacy of Whatsapp, the CRED-ible community can be least bothered. Because they use a closed group of CRED-chat without worrying about their data being sold in open market…. What an idea Sirji!
Imagine a CRED community user, conversing on CRED-chat, with his/her CRED-ible friends to book tickets for evening theatre on CRED-show utilizing their privilege of reserved CRED-seats and paying through CRED-coins. Sounds In-CRED-ible!
There’s so much possible with CRED-ible Communities… though seems far-fetched for now, but what can be done in near term is to improve your CREDIT SCORE. That’s most important!
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By: Anmol Gupta | Isha Garg