Back in the days 1793 a local merchant wanted to drive more traffic to his business by rewarding his patrons for their loyalty. After several other attempts, he came up with the idea of giving copper tokens to his customers, which they could earn and redeem for items in his store. With the creation of public blockchain technology, we believe we now have the power to disrupt, revolutionize and transform industries and consumer habits worldwide by giving back the power of loyalty to the people.
Consumers are overwhelmed by countless loyalty programs with their constantly changing redemption values and exclusions. Merchants face challenges in managing their own reward programs as they struggle with growing liabilities, increasing operational costs and system inefficiencies. Despite all of the challenges, the loyalty and rewards industry continues to grow at a rate of 30% annually because 85% of global consumers belong to at least one consumer loyalty program.
At Rewards.com, we believe we can make imagination a reality by creating an innovative solution through the use of blockchain technology to introduce cryptocurrency to the mass consumer market. We intend to provide an easy introduction and learning path to educate consumers about the benefits of owning and using cryptocurrency.
Rewards.com is introducing a global marketplace that brings together over 100,000,000 products and 7,000 merchants, including restaurants, travel, entertainment, and retail. This marketplace will allow customers to earn and redeem, what we call RWRD tokens, at any participating merchant. We believe this
solution will transform loyalty by taking cryptocurrency mainstream, building a healthy and strong token economy, and restoring true value to the consumer reward.
Loyalty Reward programs have a mass reach globally and proliferate across airlines, travel, retail, card services, financial services, healthcare and other economic sectors. Research tells us that consumers are looking for a rewards program that adds value to their experience. Unfortunately, they are all too often left feeling disappointed and frustrated as they juggle multiple programs that provide little value and complicated ways to earn and redeem points.Consumers aren’t the only ones frustrated with the current loyalty process. Business also share that same love/hate relationship with rewards programs. This creates a conflict in driving true customer loyalty.
Customers may feel rewarded when they earn a point, but they certainly don’t when they try to redeem them.
Challenges faced by businesses seeking to implement reward programs include:
• Declining consumer engagement as demonstrated by unredeemed points.
• Increasing financial liability of unredeemed points.
• Growing consumer privacy challenges.
• Rising management and administrative costs.
Rewards.com, powered by both blockchain and cryptocurrency, is positioned to solve the challenges of the current
business model of reward programs everywhere. Reinventing the rewards market and placing the power in the hands of consumers should create value, global reach and a better user experience. We intend to accomplish this by bringing a worldwide universal loyalty reward token to market for consumers and businesses.Rewards is single marketplace that brings together over 100,000,000 products and 7000 existing merchant relationships with restaurants, retail, entertainment, and travel that allows customers to earn and use RWRD token. Our planned platform will allow users to shop online or in-store to receive RWRD
tokens. Our plan is to allow the rewards token can be converted to cash for presentation and processing upon redemption, consumers redeeming tokens are not limited by point restrictions, blackout periods and peak payment times.
At the core of Rewards.com strategy is the creation of an open and global marketplace. It is expected that the Marketplace will be made up of thousands of merchants, discounts, coupons, contests, products and millions of shoppers. Just like any other loyalty program, when a consumer shops they earn, in our case RWRD tokens. Our plan is that the tokens can then be redeemed for virtually anything. Not only that, but Rewards members also receive exclusive offers and access to tickets and products before they go on sale to the public as well as the ability to participate in fun contests and sweepstakes. Because we intend to place the rewards directly into the hands of the consumer, this should bring more value to customers and business, which should allow them to be spent easily across a range of merchants and services anywhere in the world and ultimately making loyalty a truly fun, easy and valuable experience.The Rewards.com platform should allow consumers to earn RWRD tokens as a reward for activity, thereby driving traffic to our merchant partners for consumer everyday purchases. It is expected that earned RWRD tokens can be used commercially or traded on the exchange. Customers are to experience the following as customers experience to be able to redeem their reward anywhere:
- MOBILE PAYMENT
- CUSTOMER EARNED & REDEEMED REWARDS
- BONUS AND PROMOTIONS
- CUSTOMER VOTING POOL
- EARLY ADOPTERS
Rewards.com is a leader and pioneer in consumer loyalty and rewards marketing. Rewards.com’s team has a proven track record of consumer engagement with years of experience in the design, development and management of complex loyalty and rewards programs. By listening to the needs of customers and learning from the experience of managing some of the world’s largest consumer loyalty programs, they have gained expertise and trust in this booming industry.
To participate in the Token sale, it is expected that prospective purchasers will need to visit rewardstoken.io where they will be required to register. Once successfully registered, we plan to allow buyers to be able to purchase RWRD tokens using BTC, DASH, ETH or LTC. Token buyers will be purchasing RWRD tokens to be used within the
Rewards platform as mentioned above.
The planned soft cap for the ICO is set at 3,000 ETH with a hard cap of 75,000 ETH. When this cap is reached the distribution will end. Any remaining RWRD tokens left unsold at the completion of the ICO will be burnt. At the completion of each distribution, contributors will be granted rewards tokens at the exchange rate as determined by the value of the contributions. The current exchange rate is 1 ETH is equal to 1,430 RWRD Tokens.
The minimum purchase amount will be .2 ETH. There will be 200,000,000 of the 400,000,000 tokens in the fund raising pool available to purchase during the private, pre-sale and main sale distributions combined. Instead of offering all of our fundraising tokens during a traditional crowd sale before our market place launches, we plan to mix things up by celebrating every time we launch our global market place in a new country.
We will do this by offering a discount in concert with the launch of the first 10 countries.Purchasers who commit to purchase a large amount of RWRD tokens during the sale period,
will be eligible for an extra bonus. All such bonuses will be discussed individually with each potential buyer.Rewards leverages what we believe to be best in breed technology and solutions to build a fast, reliable and scalable ecosystem. Our solution is made up of 3 main components; the core platform, blockchain and an authentication scheme.
Rewards is starting out as an ERC20 token, based on Ethereum. The Ethereum blockchain will start out managing the reward currency and allow for a more dynamic system as we work with our industry partners to develop the rewards protocol and standalone blockchain.
For more information you can visit
http://www.swiftexchange.com/Content/Documents/2011-COLLOQUY-Liability-Talk-White-Paper.pdf
rewards.com
rewardstoken.io