Building a Robust Ecosystem of Service Providers

Glue's strategic enhancement of integrating a robust service provider ecosystem addresses one of the most critical barriers to mainstream blockchain adoption. By providing an easy-to-use subscription model for essential services, Glue can ensure that users can access the support they need while creating a sustainable revenue model for service providers. This approach not only enhances the user experience but also establishes Glue as a leader in the blockchain space, offering unparalleled customer service and support. By building a comprehensive and reliable service infrastructure, Glue transforms the landscape of decentralised technology, making it more accessible, secure, and user-friendly.

The Service Provider Gap in Crypto

One of the core challenges facing the cryptocurrency space is the glaring lack of service providers. In the traditional financial system, customer service is paramount. No one would switch to a bank with poor customer service. Yet, the blockchain world often expects users to navigate complex systems without adequate support, leading many to stick with centralised exchanges that offer a semblance of customer care. This lack of support infrastructure has created significant barriers to entry for mainstream users who are accustomed to the convenience and security provided by traditional financial institutions.

This deficiency in service provision must be addressed to achieve real-world adoption of decentralised technologies.

Benefits of Service Providers

• Enhanced User Experience: Reliable customer service and support will make the blockchain ecosystem more accessible and user-friendly, encouraging broader adoption.

• Revenue Model for Service Providers: By offering a straightforward revenue model, Glue incentivizes service providers to enter the ecosystem, ensuring a wide range of services are available.

• Increased Trust and Security: Services like insurance can provide users with peace of mind, knowing their assets are protected against unforeseen events.

• Scalable Support Infrastructure: An app-store-like setup for subscribing to services will make it easy for users to find and utilise the support they need, scaling the support infrastructure effectively.

• Competitive Advantage: Glue’s ecosystem of service providers will set it apart from other blockchain platforms, making it a preferred choice for users seeking a reliable and supportive environment.

Glue’s Strategic Approach to Service Providers

Glue’s approach to this problem is straightforward and transformative. To create an ecosystem of service providers, a viable revenue model for these services must get established. Glue allows users to opt into third-party service providers on an address level, making it easy for them to access and pay for services they need. This model ensures that service providers can generate consistent revenue while offering valuable support to users.

Subscription-Based Service Models

On platforms like Ethereum, acquiring subscriptions for services such as insurance is prohibitively difficult. Users often must interact with complex smart contracts, which need to be pre-funded, creating a cumbersome experience. Glue addresses this by integrating service provider billing directly into the L1 and L2 infrastructure. Users can effortlessly subscribe to services like insurance, which might cost $0.05 per transaction, and the billing is handled seamlessly by the blockchain. Moreover, since the L2s handle all billing processes, service providers do not need to implement or manage any of these technical aspects themselves. This eliminates the need for any technical skills to become a service provider, making it accessible and straightforward for anyone to offer subscription-based services on Glue.

Glue will offer multiple subscription models to cater to different needs and preferences. This flexible approach makes it trivial for users to opt into services, eliminating the need for complex setups and pre-funding requirements. Subscription models include:

Monthly Fee: Users pay a fixed monthly fee for continuous coverage or service.

Figure 12: Monthly subscription fee from user to service provider.

Fee Per Transaction: Users are billed a small fee for each transaction, providing flexibility and pay-as-you-go convenience.

Figure 13: Each transaction has its own service provider fee that is charged independently to the gas fee of the transaction. This is a pay as you go service, hence there is no service provider fee if there are no transactions.

Multiple of Gas Fees: Service provider’s fees can be tied to the gas costs of transactions, ensuring proportional costs relative to usage.

Figure 14: The gas fee will include the service provider’s fee. Once the transaction is broadcasted and completed, the service provider will be paid their fee.

Aiming for a Rich Ecosystem of Service Providers

The goal is to build a vast and diverse ecosystem of service providers, with a strong focus on customer service. In the Glue ecosystem, users should be able to pick up the phone and speak to a real person who can help them with their issues. We envision companies offering a "We help you with anything Glue" service, which users can subscribe to through an app-store-like setup. This easy subscription model will revolutionise the user experience in the crypto space. Service providers will be able to offer various support packages, ranging from basic technical support to comprehensive customer services. This approach will make Glue the only blockchain ecosystem with a robust and reliable service infrastructure, bridging the gap between decentralised technology and user-friendly service.