Businesses needs customers feedback to enable them operate in today's competitive business environment, Customers are the reason businesses survives, Knowing what the customers wants helps businesses to adjust their product and services to suite the customers even better and give them full customer satisfaction
But Over the year many business have struggled to reach across to their customers and get their feedback on the product and services they are using but they failed because customers are not willing to spend much of their time to give good feedback freely also businesses have no better ways to offer loyalty to the customers; But thanks to Blockchain and smart contract, with Sandblock Project businesses can offer loyalty to their customers for giving their feedback, opinion, experience. Let's find out how Sandblock will achieve this
What is Sandblock
Sandblock is creating a decentralised protocol to connect brands(Bussiness) and customers together using Smart Contracts by enabling the brands to reward their customers for their engagement and loyalty using cryptocurrencies.
Watch Sandblock Intro Video To Understand more.
Customers will be able to interact with the platform using mobile application (alpha available on iOS and Android) and a desktop/web dashboard for businesses.
Sandblock Ecosystem
The Sandblock ecosystem is composed of a network of merchant partners, their customers and third party actors such as marketing agencies, all connected through a decentralized protocol (the Satisfaction Protocol). [Read more about this on the whitepaper https://sandblock.io/whitepaper/en]
How Does Sandblock works
Merchants join the network through a form of partnership by purchasing a certain amount of Satisfaction Tokens. Merchants can then creates its own Branded token on top of the Satisfaction token (SAT) and can give it as a reward to its customers for their loyalty, feedback ,reviews, surveys or engagement ,contests, games. By using the platform, Merchants have access to various analytics data about their customers across all merchants.
What is Satisfaction Protocol
This is a decentralized protocol and is based on Smart Contracts on the Ethereum blockchain. The Satisfaction Protocol handles the most important and sensitive aspects of the Sanblock ecosystem regarding the token economy, the rewards attributions and the various merchant rules.
What is Satisfaction Token & Branded tokens
Satisfaction Token (SAT) is an ERC20 tradable cryptocurrency on the Ethereum blockchain. The SAT will be created during a crowdsale
Branded Tokens is the name used to describe a token created by a merchant using the Satisfaction protocol. This is a generic name as partner merchants will have to choose a name for their currency (e.g “MyShop Coin”) to keep their branding while using the protocol and make things easier for their customers. Branded Tokens are linked to the SAT at a ratio defined at their creation (e.g 100 MyShopCoin = 1 SAT).[Quote from Whitepaper]
Branded tokens are also tradable with each other and they can also be converted to SAT for other use.
Conclusion.
After evaluating Sandblock project, this represents a great project in my own opinion because they already have a working alpha product and the sector they are targeting is a huge industry. If everything goes well and they do all they are supposed to do many business will use the platform because it will save huge cost and allow them to have access to customers data and know how best to reward them for their loyalty.Users on the other hand will use the app massively and give their feedback to earn cryptocurrency. It is a platform that will benefit everyone.
Sandblock have scheduled their ICO for the sale of their SAT token you can participate and join in the upcoming Pre-sale
Token Sale Information
Token pre-sale starts February 28th 2018
Learn More About Sandblock:
White Paper
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Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1420329
Note: This is not a financial advice I am just sharing my personal opinion on ICO's. Do your own research before getting into any ICO. Investing in ICO is risky and you could lose your money.