Universal Reward Protocol: Bridging the gap between retailers and c...

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Blockchain technology has seen a major trend in the world at large and it has shown a level of positive impact in the financial sector.
The universal reward protocol also known as URP in short is a new way for retailers and brands to interact directly and transparently with their customers and automatically reward their behavior (multiple behavior). It rewards behaviors like
Visiting the store
Accepting to share their shopping data with the network
Online browsing and social media influencing
URP disrupts the world of shoppers experience. It redefines the relationship between consumers, retailers and brands. Unlike other blockchain based protocol URP gives the consumers and retailers chances to interact and communicate before and after a business have ended.

URP gives the consumers :

Good shopping experience
Data privacy and protection
Multiple loyalty programs
Rewards them with URP token for good customer behaviour.

In recent times due to customers identification and data being leaked, most patronizers of e-commerce has pulled out of the scheme due to leak in their ID’s and data. Universal reward protocol has set up a well designed security system that ensures data’s of customers such as username, password/keyword are kept safe from cyber criminals.

URP also allows retailer to join their network and setup reward campaigns using smart contract while granting shoppers full control and security of their data. It also provide multiple loyalty programs that allows the retailers compensate their shoppers behaviour. As a decentralized protocol, any retailer, shopper can participate in universal reward protocol in a secured and trusted way.

                    How Does URP Works

Consumers can interact directly to the profile manager and the work of this manager profile is thus:
1.The profile manager allow shoppers the ability to check balance in their wallet I.e URP token.

Updates the list of available reward redemption campaign
Collect consent to the campaign the customer wants to participate in.
Allow customers to monitor their privacy setting with respect to each retailer.

The retailers and brands also interact with the campaign manager. The campaign manager does the following:

Let the retailer define campaign suitable to enhancing good performance indicator by effectively encouraging shoppers/customers to behave in a given way.
It also allows the retailers create new reward campaign.
It helps retailer and brand to publish personalized offer target
It checks existing campaign.

Function of the URP Token

The URP token is a generic ERC20 utility token and has a dual function:

Retailers will distribute URP tokens to reward customers based on specific rules of their choice. Shoppers, on the other hand, will redeem these URP tokens in exchange for discounts, gifts or
premium services.
The URP token will be used as encouragement for all stakeholders to enable them behave correctly, preventing cyber crimes and securing the network.
The URP token is the incentive retailers use to encourage desired behaviors in their shoppers. It is redeemable across all retailers in the network, which makes it a universal reward, and brings direct value to customers already saturated with retailer-specific captive rewards.

Conclusion
Customers can finally enjoy all the benefits of a fully customized, omni-channel customer universal reward program, suitable across all their favorite retailers. All with each customer’s privacy as a priority, and with the full transparency of blockchain technology. Universal reward protocol is set up to change the way we all shop by making it easier and convenient.

Road Map