The Cheers app addresses a problem many street performers are experiencing of late. Tipping is becoming few and far in between as people walk with less and less cash. The demise of the coin is eventual as well considering that some countries have eliminated the lowest denominator (i.e. the penny) already. Yet the Cheers app helps people tip graciously through the growing virtual currency known as Bitcoin.
Developed by Justin Womersley and Simon de la Rouviere, the Cheers app helps people identify a song or artist they wish to support, choose the amount they wish to donate and, in the final step, send it. ‟There are moments where you appreciate a great piece of music, and in that moment of appreciation you want to tip the artist: to say thanks. A token of gratitude,” says de la Rouvier.
The Cheers App Allows People to Tip with Virtual Currency
1. Virtual Currency Tipping - As more people adopt virtual currencies, there is an opportunity to create new platforms that facilitate tipping in a variety of industries beyond music.
2. Disintermediation of Payment Processors - Bitcoin and other virtual currencies allow for direct and decentralized transactions, creating opportunities to disrupt traditional payment processors and financial institutions.
3. Integration of Mobile Payments and Micropayments - Apps like Cheers allow for seamless integration of mobile payments and micropayments, creating new opportunities to monetize content and services that may have been previously overlooked.
1. Music - Tipping platforms using virtual currencies such as Bitcoin can potentially revive flagging revenue models for musicians and DJs.
2. Entertainment - Virtual currency tipping platforms such as Cheers could disrupt industries including comedy, magic, and other performance arts where tips are common practice.
3. Mobile Payments - As more consumers adopt mobile payment options such as Cheers, there is potential for disruption in the payments industry and opportunities for businesses to leverage technology to improve the payment experience.