I dont expect anyone except the founders to benefit from the PI Network in a significant way because users are currently putting value in the app without tangible
The app does not provide any utility to its users beyond functionality like inapp messaging. Most users hold on to it with the hope that they will sometime convert their virtual coins to actual value
Founders are already benefitting from the app. They launched optional video ads at launch to monetize the active user base.
How Pi Network work?
It is an app where users login every day and click a button to get digital currency. There is no proof of work being performed, they just login and click a button. This currency is not traded yet so currently holds no value level up by inviting more users to the platform.
Could Pi Networks currency will be valuable in the future?
They have published a high level whutepaper outlining their ambitions without providing technical details on how their Pi Stack would work. One of their aims is to have others build apps on PI network to benefit from PI network users.
They claim to have run a pilot in 2020 for people to exchange goods and services using Pi. Instead of running pilots, they could have listed their coin on an exchange as it has been done by companies.
According to their Linkedin page, they have 70 employees as of 2021. However, many of the people that list themselves as working there are app users with titles like “Cryptocurrency Trader”. We haven’t analyzed each profile but there seems to be a group of people working towards building something there. It could be the next version of the app or the blockchain network, that is hard to verify from outside the company. What we can see is
What Should We do??
Its founders were educated at and worked at Stanford. Though this is certainly a good thing, people rarely notice that Warren Buffet, Jeff Bezos, the writer of this article and numerous business founders were educated at reputable universities.
I wouldn’t bother installing the app. You can always make the argument that you only lose time by giving the app a try. However, this belief would lead the believer to follow any dishonest actor who promises future value. There is no scarcity of empty promises in the world, we try to spend our time more carefully
However, if you already have the app, you can wait to see if the founders actually build something of significant value.