The local innovator wants his new communications platform to help make WINZ redundant. RealStew aimed at integrating chat, email, social websites, user groups, websites and blogs in one platform housed in one internet browser. Realstew Connect’s directors were Paddy Delaney and Keith Conway. Delaney started concentrating on the project from your own home some 4 years ago.
He had gradually convinced sceptics to get aboard. Delaney hoped to “monetise eyeballs” by directing customers to buy applications and tools these people were most thinking about. “We’ve used the social capital of our users to grow our base,” he said. “We’re growing by a number of thousand daily.” RealStew based its operations in the Parnell building where it had received support from business incubators Icehouse.
Delaney said Realstew users would ultimately be able to play games, use cloud storage, look for a date, buy auction items, and invest. He was quoted saying an expanding user base could interact and now, with commercial applications, embark on transactions. Delaney said RealStew had 36 applications and around 200 “application public interface” tools at the same time. Delaney said he was speaking with third-party developers to hone several of RealStew’s platforms. RealStew would ultimately target everyone who had internet connection through mobile technology – an international market of billions. He explained the company’s New Zealand origins would allow revenue to flow back here. Users would be required to pay tax on their own earnings monthly.
“Our business goals is to make WINZ redundant. We wish the amount of money being received by those on welfare to become eclipsed with what they would get from moderate utilization of RealStew. Once it realstewed the first few people off benefits and the word gets out, it can avalanche.
Delaney said he had certainly a “tipping point” would be reached. “And whenever you do every person in Nz will begin connecting their friends up and everything should go ballistic.”
Delaney was aware some observers might suggest RealStew had been a pyramid scheme but said RealStew users were not obligated to purchase or sell anything. “Our revenue originates from selling solutions people want to purchase. We don’t want everything, we don’t need all of it…so we’re doing the decent thing and returning some towards the users who happen to be helping us grow.” RealStew used a web-based accounting system to manage transactions, including currency conversion.The corporation returned 54% of revenues to affiliates via an electronic wallet system. 5% was purchased a software called RealVoice. Six % traveled to Realstew staff. The remainder 35 percent went in a fund the firm will have willing to lend to folks.