n Major British public transport provider Go-Ahead Group Plc. is partnering with blockchain startup DOVU to introduce a tokenized rewards system for rail customersn
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Bitrewards: A Rewards and Loyalty Platform for a $20+ Billion Market
Bitrewards is a blockchain-based loyalty system that has been designed with e-commerce businesses in mind. This new platform will enable online stores to rewards shoppers using the BIT digital currency. It has been shown that having a function reward system can help to raise sales by about 17 percent. With the help of the blockchain and the team’s unique model, this system will be offered to any participating business for free.
Understanding Bitrewards
This is a blockchain loyalty platform and ecosystem, which makes it possible for retailers to reward their customers for purchase, inviting others to the store and various other functions. The rewards are paid in BIT token. This token has an absolute value for the customers since they get liquid Ethereum-based tokens, which they can trade on exchanges for fiat or crypto. These tokens can be transferred to other wallets or they can be redeemed for a product in the online store. The value of the token is going to continue rising due to the unique model of business. Thus, the rewards will go up in value with time rather than expire.
Bitrewards has major benefits for the retailers. The reason for this is that they will have more satisfied customers who will become more loyal with time. It has been shown numerous times that having a comprehensive rewards program can help grow revenue by double digits. The stores will also capture the attention of the large crypto community, which is usually appreciative of attention they get from regular businesses.
The Value Proposition for Businesses
This token will be offered to all participating online stores for free. To use this token, shops will only have to buy it on the open market to reward the users. The value of rewards software usually starts at 0 a month. Thus, thousands of retailers are going to be keen to connect to Bitrewards. The developers of this platform are able to make this claim because they have worked in the loyalty software market for over five years. Thus far, they have had over 500 clients who are online stores. Thus, they deeply understand their needs.
The Bitrewards platform is compatible with the most popular e-commerce systems such as Shopify, Magento, Ecwid, and WordPress via a simple API.
The ICO
The price of one BIT, during the ICO, will be 0.00003472 ETH. There will be a total of 1,280,000,000 BIT tokens at the ICO, which represents 64 percent of all tokens. The ICO will launch on April 1, 2018. The crowdsale has already hit the predesignated soft cap of ,000,000 even before the main token sale.
What do you think of the Bitrewards platform and BIT token? Leave us your thoughts in the comment section below.
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BitRewards, Bringing Blockchain to Customer Loyalty to Gain Top ICO Ratings, Announces Main ICO
BitRewards, the world’s first blockchain-based loyalty platform, has successfully been conducting its pre-ICO that started on January 12, 2018, and is close to reaching its soft CAP of million. The company has also announced its main ICO starting from April 1, 2018. Getting excellent ratings from mainstream rating agencies like ICORating 9/10, ICOBench 4.7/5 and TrackICO 4.8/5, BitRewards expects to successfully capture the billion worth of retail market globally through its revolutionary ecosystem.
About BitRewards
BitRewards is a blockchain rewards and loyalty system for e-commerce businesses. It enables online stores to reward their shoppers with a cryptocurrency “BIT”, which helps to increase sales by an average of 17%. Because of the blockchain and its unique business model, this cutting-edge loyalty system is offered to the businesses free of charge. Customers are rewarded for their purchases with liquid Ethereum-based tokens that can be redeemed for future offers, purchases, or transferred to another crypto wallet and used on other products or services.
The Exclusive Benefits
BitRewards enables retailers to make their customers more satisfied with the rewards in crypto and thus gaining their loyalty. A great loyalty program magnifies the retailer’s revenue by a significant percentage. The stores are capturing crypto-enthusiast market, which is active and embraces the attention from regular businesses.
BitRewards offers such expensive and valuable loyalty technology free of cost. The retailers buy BIT in the open market to reward their users. The cost of such software starts from 0 per month, hence many retailers want to connect to the platform. BitRewards, moreover, uses AI-based predictive analytics that helps configure the rewards and actions for every specific business to address its unique target market and maximize ROI for each dollar spent on the rewards.
What is BIT Token & How Does It Work?
Internal BitRewards tokens, called BIT comply with the ERC20 standard. It is an internal currency that will be used to conduct all operations within the BitRewards ecosystem. Customers of the online stores participating in BitRewards Network will get BIT as a cash-back — a specific configurable percent on their purchases, their referral purchases, shares and likes in social networks and other actions. The cash-back will be credited to the customer’s automatically created crypto-wallet connected to the store via BitRewards plugin.
BIT can be redeemed at the same store or with the other BitRewards participating merchants via an online crypto-wallet connected to the participating merchants. The customers can also buy BIT on the open market (e.g. exchanges, etc.) or via the Bancor liquidity smart contract. In most exchanges tokens can be converted into ETH, Bitcoin or fiat.
The Market Competitiveness of BIT
The demand for the BIT tokens most likely will grow because of the limited initial issuance of 2 billion tokens and the increasing number of retailers joining the platform exceeding the supply from the customers who redeem the tokens for purchases or trade them at the open market.
The decentralized rewards management on blockchain makes the platform unique and delivers great value to all platform members and their customers:
- for retailers – a premium blockchain loyalty management system with a value of 0-00 per month for free.
- for customers – cryptocurrency rewards, which they can turn into real money or redeem for purchases and which do not expire and tend to go up in price.
The ICO
The Main ICO of BitRewards will start from April 1, 2018 while its on-going pre-ICO is ending soon. To get whitelisted for its upcoming ICO and know more about the platform’s features and technology, please visit https://bitrewards.network/
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How Blockchain Can Make Loyalty Programs Valuable
In today’s business market, there are certain things companies do in order to gain customers. Having a top of the line website with a user-friendly mobile application is an example. Active and lively social media pages is another. When customers see these features, they provide confidence in the quality and validity of the company.
Recently, customer reward programs have joined this list, perhaps at the top. As customers, we love getting rewarded for frequent use. In turn, the company benefits because the loyalty programs can keep customers from buying from a rival business. Also, these reward programs can provide companies with valuable customer data. Perhaps the best examples of this are credit card points and airline miles.
But as this feature of business grows, so do the inefficiencies. For example, these are extremely expensive endeavors. Think of all the manpower that is needed just to manage the day to day operations of an airlines reward program. They are also exclusive. If you’re a business with a leading brand name, you don’t want to be attached via a loyalty program to a lesser or competing brand. This isolates only the richest of companies and isolates those without the same amount of funds.
The answer to these deficiencies? Blockchain.
Sandblock (SAT) is a blockchain built on Ethereum that is making it possible for small businesses to join in on big company loyalty programs. Through Sandblock, businesses can give out loyalty rewards, points, and incentives in the form of a cryptocurrency. There are a couple main advantages to using cryptocurrency as a loyalty reward.
Cryptocurrencies are based on a distributed ledger called blockchain. This is in contrast to the traditional method of currency, which is centralized by banks, agencies, and governments. The result is minimal to no external interference or transaction fees. This is especially helpful to small businesses as loyalty points are already expensive.
Another appeal to cryptocurrencies is the global value they possess. With traditional loyalty programs or even local currencies, you are limited to your geographical location. With cryptocurrencies, they are globally accepted and valued.
Many will use this as a chance to bring up the volatility of cryptocurrencies. Arguably the most compelling argument against cryptocurrencies, volatility keeps many from adopting the revolutionary tokenized assets. However, when given as a reward for customer loyalty, the risk of cryptocurrency is one well worth taking.
Sandblock Brings Merchants Together and Keeps Consumers Safe
Each individual company creating their own token would be wasteful of valuable time and resources. This is why Sandblock built a consortium using the SAT. An ERC20 token, SAT is Sandblock’s share currency and is the index that the individual companies personally branded tokens are based on. Instead of creating their own token, each company has their own Branded Token pegged to the SAT. This helps prevent the volatility of each individual merchant’s token. In other words, each company is participating in the ecosystem through the medium of the SAT.
The power of blockchain is utilized through the transparency and security that is provided. One of the major reasons why companies participate in loyalty programs is because it requires customers to give valuable information regarding purchasing habits. However, one reason why many consumers don’t sign up for loyalty programs is that they don’t want their personal information getting into the wrong hands.
With blockchain, both problems are solved. The distributed ledger provides the transparency required for the companies, with the security desired on behalf of the consumer. The data is encrypted, only revealing the necessary analytics. No personal information is shared.
All of this takes place through the Sandblock mobile app. It’s what consumers can use to easily sign up for and track their rewards.
Sandblock is yet another way that blockchain is being applied to existing programs, industries and business practices. The revolutionary technology of blockchain, recently through Sandblock, is fundamentally changing the way people interact and respond, both as consumers and vendors.
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Singapore Airlines to Launch Blockchain-Based Loyalty Wallet
Singapore’s largest airline operator is turning to blockchain technology to boost spending of its loyalty program air miles.
CoinDesk
Orioncoin Further Unveils Loyalty Program Blockchain Platform
n New Blockchain-based loyalty program by Orioncoin BLOCKSHOWn
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Blockchain Will Make Loyalty Programs Actually Work, Says Orioncoin CEO
n At BlockShow Asia last month, Orioncoin CEO introduces a Blockchain platform for loyalty rewards programs. NEWSn
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How a Loyalty Program on Blockchain Works, Explained
n Blockchain can keep you loyal!n
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Elements, Leveraging Blockchain Technology to Disrupt the Future of Loyalty Programs
“Elements,” is a blockchain based digital currency that seeks to revolutionize the loyalty rewards industry. Elements offer a universal platform for multiple merchants, enabling them to leverage cryptocurrency’s underlying technology to increase sales and visibility as well as customer satisfaction.
A blockchain is as good as the algorithm it uses. Elements operate on the proof-work (POW) mining model with X11-changed hashing algorithm as its POW. X11 conceived by Evan Duffield, the core developer of Dash, is similar in design to Bitcoin’s distribution procedure. X11 is possibly the most secure algorithm out there, offering 30 percent less wattage in GPUs and is 30-50 percent cooler than Scrypt.
Uses
Loyalty programs aim to improve customer experience and consequently merchant revenues. However, there is major fragmentation in the industry with no room for interoperability. Consumers are overwhelmed with memberships from different loyalty programs with no substantial benefits. As a result, customers end up not taking advantage of these programs. Merchants on the hand have to deal with the burden of liability that comes with running a loyalty program. As a result, the loyalty program industry has become inefficient.
Elements, keen on experimentation is disrupting the future of loyalty programs. Elements provide a universal loyalty currency accepted by various merchants. Consumers can use the currency wherever they please. A single currency accepted by multiple merchants is beneficial to both consumers and merchants alike. A universally accepted loyalty currency motivates consumers to spend more to spend more.
Advantages
- One of the biggest challenges merchants face with loyalty programs is liability. If all consumers were to cash in their loyalty points simultaneously, businesses would collapse. With, Elements, however, Merchants can acquire coins free by mining, thus massively reducing the cost of liability.
- Elements offer a single currency accepted by multiple merchants, an advantage to consumers and merchants alike.
- The blockchain records all transaction on the immutable ledger, which means customers cannot counterfeit their loyalty points.
- With Elements loyalty currency, the customer’s privacy remains intact, as Elements does not store the customer’s data.
- Elements’ blockchain processes transactions instantly.
- Customers can use a wallet of their choice for transactions
- Customers can use the “Elements” loyalty coins to purchase products from merchants or exchange the coins for either fiat or crypto-currencies.
More information on Elements is available at https://theelements.io/
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PlusCoin Loyalty Solution Offers Cashbacks in Cryptocurrency
DS Plus, the leading brand management and loyalty program company, through its mobile platform, is offering exciting incentives to customers. As a part of this program, customers can earn decentralized cashback in the form of PlusCoin tokens by using the mobile application to purchase goods. DS Plus has been working on the project for over … Continue reading PlusCoin Loyalty Solution Offers Cashbacks in Cryptocurrency
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