A local innovator wants his new communications platform to produce WINZ redundant. RealStew directed at integrating chat, email, social networking, user groups, websites and blogs on one platform housed in one internet browser. Realstew Connect’s directors were Paddy Delaney and Keith Conway. Delaney started working on the project at home some 4 years ago.
He had gradually convinced sceptics to acquire on board. Delaney hoped to “monetise eyeballs” by directing customers to buy applications and tools these people were most considering. “We’ve used the social capital in our users to grow our base,” he explained. “We’re growing by a couple of thousand daily.” RealStew based its operations within a 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, get a date, buy auction items, and invest. He stated an expanding user base could interact now, with commercial applications, participate in transactions. Delaney said RealStew had 36 applications and around 200 “application public interface” tools also. Delaney said he was talking to third-party developers to hone a few of RealStew’s platforms. RealStew would ultimately target everyone who had internet connection through mobile technology – a global market of billions. He stated the company’s New Zealand origins would allow revenue to circulate back here. Users will have to pay tax on their own earnings each month.
“One of our business goals would be to make WINZ redundant. We wish the amount of money currently being received by those on welfare to become eclipsed by what they will get from moderate utilization of RealStew. Once it realstewed the first people off benefits along with the word gets out, it can avalanche.
Delaney said he had undoubtedly a “tipping point” would be reached. “So when you do every person in Nz will begin connecting their friends up and the whole thing may go ballistic.”
Delaney was aware some observers might suggest RealStew was actually a pyramid scheme but said RealStew users were not obligated to buy or sell anything. “Our revenue comes from selling solutions people want to buy. We don’t want everything, we don’t need all of it…so we’re doing the decent thing and returning a part to the users who definitely are helping us grow.” RealStew used a web-based accounting system to handle transactions, including currency conversion.The corporation returned 54% of revenues to affiliates via an electronic wallet system. 5% was invested in an application called RealVoice. Six % visited Realstew staff. The remainder 35 per cent went into a fund the firm will have able to lend to individuals.