Gatcoin promises to unify the world of rewards.
Let's talk about how this coin may help business owners and consumers.
I Just want share with you my opinion on this. It's not financial advice. It’s just basic information and some of my ideas about what Gatcoin is.
These guys are bringing an innovative way for consumers to be able to exchange their loyalty points that they earn across platforms from different businesses. So, they're trying to bridge that gap between some of your airline rewards points, your Starbucks coffee stars, your fuel points at different gas stations or your coupons at a department store. -This is really a strange way or reason for launching a crypto but it makes a lot of sense.
These guys are based in Hong Kong. They are looking to basically unify the world of rewards by creating a wallet for trading purchase points with they cryptocurrency. They will allow people to basically buy out the dividends of what they need to be able to cash out their earned freebies like the coupons or rewards points. Let's say that I shopped at a grocery store and I've learned some type of loyalty points there for a discount at their partner, let’s say a fast food chain. I may not be able to use it if their branches are too far away from work or home. On the other hand, I might be only 25 points away from getting my free Starbucks coffee. I think to myself: I'd really like to not have to spend $25 (or whatever the conversion works out to ) at Starbucks to be able to get another free coffee. But I've got like a hundred of these points saved up for a fast food restaurant and I just decided to, say, stay fit and avoid fast food. Somebody else could use the points to get like 20 cents off per hamburger so maybe that's important to somebody. This is where Gatcoin comes in. So I put my tokens in and I get Gatcoin and use Gatcoin to buy the remaining stars on Starbucks stars that I would need in order to get my free coffee. I give up something that I've got in exchange for something I need, and to me, that would be a fair exchange.
For example, you might go to a fancy restaurant for a classy dinner with your lady, but when you get home, she told you that she didn’t like the place and the food at all. -But you signed up for loyalty rewards and you’re too far away from getting your next free meal and free appetizer. So you would rather miss out on the rewards or better yet, hypothetically exchange your points/credits with another well-known restaurant’s coupon, once Gatcoins are released and the project is up and running. Gatcoin will be in the middle of/facilitate the exchange using their cryptocurrency. Gatcoin seems to want to help us rectify situations when we feel like we're not going to use our reward points at all so they’re just going to expire. Gatcoin promises to facilitate the trade from merchant to merchant using this type of technology.
Currently, there is chaos among many different competitors and you know rewards points are actually kind of like the precursor to cryptocurrency. They’re like non-tangible things but they have monetary store of value. Only that, they’re usually accepted only at the same store that issue them. - Gatcoin seems to be a great solution to this problem.
There is a minimum investment so it’s not just your everyday investment. The pre-sale ended over a week ago. Their actual token sale has closed. - Tokens are sold out so I’m hoping that it will go mainstream like how Ripple was adopted. -American Express, Bank of America, some banks in Japan and Korea participated in this new banking technology. Many businesses will also benefit from this technology, I believe. Other examples include tire retailers, airlines, combined with all the shops and restaurants. Any type of business using a sort of loyalty program. You can also think of frequent flyer miles for travelling.
These guys have gotten some good reviews so they've actually got out and done some preparation and marketing for their ICO though I haven't really seen any banner ads and things like that yet on mainstream social media.
When we also look at how GatCoins distribution is going to work, you can get 17760 Gatcoins for one ETH. That’s very low which means there’s a lot of room to grow. It looks like they are going to hit the market with a relatively low market cap and if they can get any big news out there like potential contracts with any big-time retailers, then it would be a big boost to the value of an ICO like this.
They’re actually looking to raise 14 and half million dollars, so they're certainly on their way to get there. They’re listing 200 million tokens for sale, so that's not a huge circulating supply though it's about 10 times the number of bitcoins, It’s not in the billions which is interesting. If you wanted to check this out, you can go to their website and watch their a video that explains the basics is you want to see the economics of their program.
Please let me know what you think. Thanks!
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