What if you were told that more than 21% of current college students and recent grads in the US have spent their savings or stimulus checks on digital asset investments? That’s what a recent study by College Finance determined and that number is well above the national average of 14% for all US residents who own some type of cryptocurrency.
Taking advantage of this growing trend among this demographic is a relatively new company named Mijem. It was started by an entrepreneur who wanted to fill a void in a student-to-student buying and selling platform. Phuong Dinh is the brainchild behind this not so little startup. In fact, Dinh’s idea caught the attention of billionaire investor Calvin Ayre who ultimately invested in the business.
The way it works is similar to Craigslist or Ebay, with a few differences. Students can place ads, buy, sell, and list services. However, the platform is only open to students within their geographic area and require a verified profile. Phuong feels this will enhance the experience by building trust and eliminating anonymity within the user base.
By now you’re wondering where the part about Bitcoin and cryptocurrency comes in. Well, here it is. In a recent episode of CoinGeek Conversations with Charles Miller, Phuong explained how BSV and the blockchain will play a role in the company’s growth and success.
Coming the fall of 2021, Mijem will roll out a loyalty rewards program to users. Each user will earn reward points for each transaction and these points can be redeemed for BSV among other things. Mijem has partnered with Fabriik to offer a digital asset wallet to hold the BSV that the user earns.
“The thing we found that’s very interesting about this student college demographic, about a third of them have never owned a cryptocurrency but would like to own one. So, these are hot prospects for a digital currency”, said Phuong.
Looking further down the road, Mijem plans to build more opportunity to enhance the user experience. Users will be able to use a credit or debit card to load funds on their account and purchase BSV tokens. Additionally, and probably the best overall feature, users will be able to purchase and pay within the app using their digital assets.
This is just another confirmation of why BSV blockchain is perfect for business. It’s immutable, scalable, and offers the cheapest cost for transactions.