*By Madison Alworth*
Crypto start-up StreetCred wants everyday New Yorkers to map their city, and the company is paying them in Bitcoin to get the job done.
"You can earn points for going around the city and adding and taking photos of any place that you go that's of interest to other people," CEO Randy Meech said Monday in an interview on Cheddar.
StreetCred's app, MapNYC, isn't the first mapping product out there, of course. Google's version similarly uses crowd-sourced information to beef up its offering. But Meech sees a key downfall to that option.
"One of the problems is, it's very restrictive and very expensive for other companies to use," he said. "That's really our mission. We are trying to make this data very accessible, very open, basically, for others to do anything that they want with it."
Meech hopes to address those concerns by running his app on a more decentralized blockchain.
"What we're looking for is for communities to be able to create data and be compensated for that, or to share it with companies who need the data," said Meech.
Bitcoin is the currency of choice, since it's currently the one most visible to the general public and therefore has the potential to attract more contributors. But StreetCred does have bigger ambitions.
"We are a crypto company so we will likely be having our own token at some point," Meech said. "One of things we wanted to test, before we get to that point, is will people do this for crypto?"
Creating a game out of it may help. Every time a user posts a location, he or she gets a point, and prizes will be distributed among those who post the most. As of this week, there are eight Bitcoins up for grabs in the app's contest; the top prize equals one Bitcoin, or approximately [$6,200] (https://www.coindesk.com/price/).
StreetCred is focusing on its hometown of NYC to start, but Meech said he plans to expand beyond his test city. MapNYC launches on September 24 and will be available for both iOS and Android.
For full interview [click here](https://cheddar.com/videos/mapping-nyc-for-bitcoin).
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
Stocks rose slightly as Wall Street looks to continue its momentum with earnings season winding down.
Tyson Foods is recalling about 30,000 of its dino-shaped chicken nuggets after some consumers reported finding small metal pieces in those nuggets.
Google on Monday will try to protect a lucrative piece of its internet empire at the same time it’s still entangled in the biggest U.S. antitrust trial in a quarter century.
Before the SAG-AFTRA strike, this was the weekend “Dune: Part Two” was supposed to open. When Warner Bros. and Legendary pushed that opening back to March 2024 and no other blockbuster stepped in to take its spot.
A growing number of Californians are planting agave to be harvested forz use in spirits. The trend is fueled by the need to find hardy crops that don’t need much water and a booming appetite for premium alcoholic beverages.
Load More