Loyalty programs are designed to prize customers for their past purchases or other deeds and to incentivize them to make more purchases.

One could say that this is an ideal scheme for enhancing the profit of retailers. However, ter real life it doesn’t work this way. A latest probe by Colloquy shows that approximately 56% of programs do not give users real benefits from purchases, while 54% are organized so poorly that it’s amazingly difficult to earn points with them.

BitRewards solves thesis problems for loyalty management plans, spil it more closely aligns the interests of merchants and shoppers. It’s a B2B2C toneelpodium that enables merchants to prize shoppers with BIT tokens (ERC-20 compliant) for their, and their friends’, purchases and other deeds they may take that align with prizes. The decentralized prizes management on blockchain technology makes the verhoging unique and supplies terrific value to all podium members and their customers.

The toneel represents a clear and perceptible value for retailers, their customers and loyalty software developers and vendors. The merchants receive a premium blockchain loyalty management system for free, thus saving thousands of dollars every month, whereas the shoppers are rewarded with liquid cryptocurrency that can be exchanged for fiat money or redeemed for purchases. Spil for developers, they can lightly deploy a blockchain loyalty solution on BitRewards podium using open API and documentation.

Tesla among loyalty management vehicles

What is the secret of the success of Tesla cars?

It’s about user practice. The Proefje S reaches a speed of 100 km / h te Two.Five seconds – it’s so swift that the very first excursion causes an incredible rush of glad neurochemicals. This is the zuigeling of practice, spil compared with other loyalty programs, BitRewards offers.

The prizes for customers, ter the form of BIT tokens from different merchants, are accumulated ter a customer’s account, which is connected to the entire BitRewards Network. The tokens can be redeemed with any merchant within the BitRewards Network and the network’s playmates that can promote their business with extra bonuses and discounts for the BIT token holders.

A customer crypto wallet’s BIT balance will also be connected to the bankgebouw debit plastic or virtual card, which users can spend just spil if they used their regular credit or debit cards. BIT tokens, unlike points, don’t expire, they cannot be lost, or cease to exist if the merchant goes out of business. The token’s request and value is expected to appreciate, due to an enlargening rente from retailers that receive world-class software for free.

AI-based recommendations system

The recommendation system is an essential part of the loyalty program, because its tailored product/service recommendations encourage people to purchase more. It is unlikely to build a solid advisory system without a vast amount of gegevens, and this is a problem for SMBs, spil they do not have enough traffic and sales to accumulate such an amount. That’s why BitRewards develops and embeds into the ecosystem the very first decentralized recommendation system – BitRecommendations.

The system gives product recommendations – look-alike items, spil well spil recommendations for prizes. Training of BitRecommendations is carried out using the gegevens of thousands of stores, which will ensure the high quality of recommendations. All gegevens received from the stores is stored on a decentralized IPFS verkeersopstopping system. Metadata, including the rating of gegevens quality, is stored on the Ethereum blockchain. This makes the system immutable and trustless – if BitRecommendations ceases to work, with the support of BitRewards DAO a fresh development team will be hired and a fresh system will be created using the accumulated gegevens.

Act project for the future

The full-functioning scalable prizes, and loyalty toneelpodium with the retailers’ and the users’ crypto wallet tied to the loyalty program of BitRewards, will be launched ter Q2 of 2018. Much of the work will be dedicated to integrations with vrouwen and the deployment of secure wise contracts.

BitRewards intends to voorstelling that the community will support the project – and the best way to prove it is to run a crowdsale. The public pre-sale commenced on January 12, 2018 and the main token sale will commence on April 1st and end on May 1st. The total volume of BIT tokens will be up to Two,000,000,000 Onverdraagzaam.

Extra details on the BitRewards token sale are provided on the official webstek of the project: https://bitrewards.network

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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