RAINCHECK: Decentralized Loyalty and rewards platform

kishanshah (55)in #blockchain • 6 years ago (edited)

What do you look in the product? An insanely great product. Every investor looks for that special thing in the product. Customers are the kings in the business as they are the final evaluators of the products. One of the most lasting and successful strategies devised by the marketers is the advent of loyalty rewards to the loyal customers. This is a way to show the customers that the company cares about them. The loyalty rewards market has grown into a full-fledged business in itself by offering many innovating products. The loyalty and rewards industry has also found a great support from the e-commerce business and the high rate of adoption of the internet and mobile among consumers.

Growing usage of the online shopping and the internet has made the loyalty and rewards industry come up with a list of intermediaries. People are not able to use the loyalty points due to incompatibility among the different service providers in the market. There is an estimated to be 70% of people who are part of some loyalty program, but they are not able to utilize the benefits of these rewards and points in the actual shopping. There is a need for a system which could create a synergy between the consumers and the loyalty and rewards industry. Do you think it is possible to create such a platform?

Solution Offered

RAINCHECK platform is a type of e-commerce platform with the capacity of managing the decentralized loyalty and rewards ecosystem. They are a provider of contextual information to the shoppers about the availability of the products on the offline stores as well. The decentralized loyalty and rewards ecosystem is based on the STELLAR network. The network runs on the consensus protocol having the quality of low latency and asymptotic security. Merchants on the platform can register on the platform and design their own loyalty and rewards strategy with the help of the STELLAR network. The smart contract is core to the network which helps in defining the rules and the systems that apply in case consumer wishes the utilize her loyalty and rewards points.

The mobile wallet is provided on the platform. Stripe is utilized for the management of all the transactions for the platform. All the data regarding the customer purchase and product listing and past shopping habits are available for creating the best consumer experience on the platform. Many other industries such as travel and software can utilize the services of the platform. The merchants will have to pay a small fee for the setup and maintenance of the profiles on the platform. Overall, it is a new platform offering new possibilities in the realm of e-commerce business, loyalty and rewards business, and decentralization.

ICO INFORMATION AND TEAM

2,000,000,000 RAIN tokens are created for the project. 35% of the funds are reserved for the public sale. The dates for the token sale are yet to be announced. The funds collected will be utilized for the technology development and marketing of the platform. The team working on the platform is experienced in the web platform and blockchain technology.

Conclusion

The decentralization will provide a new window to the loyalty point holders to exchange and transfer their stored value in the market, which they have not been able to do in the current market. The future of the decentralization is splendid as there are many companies looking to target the consumer market utilizing the power of the blockchain technology. We are yet to see the report on the ground as to how successful they have been so far, but given the buzz and the talk in the market, it seems that they will continue to make innovative solutions.

I think that most profitable situation would arise for the consumers who will have choices that never existed before, and to bring on the blockchain technology in the loyalty points and rewards business is connecting directly to the consumers. The omnichannel method of shopping experience will be redefined with the introduction of the platform. What do you think about the different services offered by the platform?