In this article, we’ll dwell on an important feature of the modern economy – social engineering. We will figure out how it works, where it came from, how it influences different participants of the economic system and how it is related to our project.
The Reserveum Group continues working on a protocol of an algorithmic stablecoin that will solve all the problems of the current financial system. This article will demonstrate the wide opportunities this protocol provides and how it can make the economy healthier.
Social engineering is the system of techniques and methods used to manipulate people, their minds and thoughts. This is similar to a fraud though it is not a must to have strong ties to the criminal world. Social engineering is most often used by corporations to create artificial demand for their goods and services. Every impulsive purchase, everything you were convinced was useful – this is the result of social engineering.
This technology is based on utilising the personal data of Internet users. Every registration on a site or an app, every search request, and all the online activity leaves traces – information on your interests, purchases, personal life, social status, location, document data, photos, contacts, etc. Not all the sites can guarantee safe user data storage so there are daily data leaks. There is a whole industry of databases trade, big businesses use them for their marketing campaigns.
Another simple and effective way to a client’s wallet is using social networks and apps that use subtler mechanisms, addressing users’ emotions and feelings. The psychology of persuasion is the main tool of social engineering here. People’s reactions are manipulated on almost molecular level. By stimulating such brain chemicals as dopamine, oxytocin, serotonin, and endorphins with visual content, communication, and simulations, companies raise the demand for their products and purchasing activity.
But since clients are not the main element of the economy – companies are, – social engineering is used not to study the real needs of customers but to find ways to manipulate clients and sell them things that bring the highest profits.
Well, this is not a fair world, and it is all about benefit. Neither can we deny that society is changing fast, and people are growingly conscious of their choices and consumption. This is why we believe that such technologies as social engineering should transform and follow society’s needs, change its concept and work for people.
The classical mechanisms of the economy and money system are generally outdated, and in the times of the digital revolution, their drawbacks are more and more obvious. The Reserveum Group is making big plans to modernise the whole economic system. You can find out why we think it’s necessary in our article called Decentralisation of Business, Money, and Economy.
What social engineering do we envision in the Reserveum ecosystem?
If you should make something from scratch, it’s vital to make it right. This is why, while working on the protocol for Reserveum MAX, our algorithmic stablecoin, we’ve decided to improve it with the whole spectrum of opportunities – from being a universal currency to a full-scale economic system of a new kind.
It may sound like a utopia, but these are the realia of blockchain technologies – they can manage more than just one cryptocurrency, but a whole economy, since every system is managed by the same principles. We thought – why not use it and solve such problems as inflation, shady money emission, overproduction, low product quality, inflated prices, demand manipulation, etc.?
The main qualities of the Reserveum ecosystem are decentralisation, transparency, and an opportunity for people to be not a managed crowd but a system of active participants who can make informed decisions. It will all become possible with a smart contract that enables Reserveum token holders to vote for or against important decisions. This is why, unlike the classic money system where the financial elite rules it all, Reserveum will be an eco-friendlier and more user-oriented system.
With such principles behind the economy, the main focus of the whole system is the consumers and their needs. In the Reserveum ecosystem, the demand manipulation schemes will not work, since users will define which products meet their requirements and the orders will be distributed by the rules of fair and healthy competition.
Social engineering will start performing a different role – it will study people’s needs based on such details as physiology, health, emotional state, income, motivation, interests, etc. Knowing and understanding the customer as well as having a smart contract which will regulate the supply and demand will help companies avoid overproduction expenses or producing unwanted goods and focus on quality.
Looks tempting, right? This is not a fantasy, we are already working on our Reserveum MAX protocol. There are really outstanding minds in our team but we are even more inspired by the crypto community’s enthusiasm. We receive loads of ideas and offers, and some of them open new revolutionary opportunities for us.
You can also take part in our work, we are always happy to welcome new participants. Please send your ideas on creating a protocol for a fair currency to our e-mail: Info@reserveum.org. The best ideas will be published and used in developing the RESERVEUM Max protocol.
According to the analysis group findings: reserveum.org