The local innovator wants his new communications platform to make WINZ redundant. RealStew directed at integrating chat, email, social networking, user groups, websites and blogs in one platform housed in a single internet browser. Realstew Connect’s directors were Paddy Delaney and Keith Conway. Delaney started focusing on the project at home some 4 years ago.
He had gradually convinced sceptics to acquire aboard. Delaney hoped to “monetise eyeballs” by directing men and women to buy applications and tools these folks were most thinking about. “We’ve used the social capital of our own users to increase our base,” he was quoted saying. “We’re growing by a couple of thousand every day.” RealStew based its operations inside 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, find a date, buy auction items, and invest. He explained an expanding user base could interact and now, with commercial applications, engage in transactions. Delaney said RealStew had 36 applications and around 200 “application public interface” tools as well. Delaney said he was speaking with third-party developers to hone a few of RealStew’s platforms. RealStew would ultimately target everyone who had internet connection through mobile technology – a worldwide market of billions. He was quoted saying the company’s Nz origins enables revenue to flow back here. Users would need to pay tax on the earnings on a monthly basis.
“One of our business goals is always to make WINZ redundant. We wish the funds currently being received by those on welfare being eclipsed by what they might get from moderate utilization of RealStew. Once it realstewed the first few people off benefits and also the word gets out, it would avalanche.
Delaney said he had undoubtedly a “tipping point” could be reached. “And whenever you do each and every person in New Zealand begins 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 comes from selling solutions people want to purchase. We don’t want all of it, we don’t need everything…so we’re doing the decent thing and returning some for the users who are helping us grow.” RealStew used an internet accounting system to control transactions, including currency conversion.The corporation returned 54% of revenues to affiliates with an electronic wallet system. 5% was committed to a software called RealVoice. Six percent went along to Realstew staff. The rest of the 35 per cent went in to a fund the firm will have willing to lend to people.