Sun, 21 Oct 2018

BitRewards (BIT)

BitRewards (BIT)

BitRewards Solution in Improving Customer Loyalty Interest

Review Project

BitRewards is about royalty between businesses and their customers. Businesses appreciate the customers’ loyalty through programs (bonuses, rewards, promotion codes, etc) and customers will keep doing a constant purchase from the same businesses.

It’s basically a win-win solution for every party involved – the customers feel appreciated for the purchases they make and the businesses have ‘secured’ another satisfied customer within their loyalty list.

The Useless Gesture

The basic idea is pretty simple, really, businesses want to make sure that they can secure customers into doing repeated orders. Sometimes, providing the best service or the various types of products isn’t enough – business owners need to be smart and keen on attracting their customers’ attention. One of the smartest ideas is to reward them, but it won’t be any kind of regular reward.

Have you ever been shopping and you get extra bonuses – provided that you will make another purchase? Let’s say that you have spent $60 for a coffee machine. The cashier told you that you can get 20% bonus because you have made a purchase more than $50 worth.

However, this bonus can only be redeemed if you make another purchase of at least worth of $30. And you are probably wondering, “I have found the thing I want, which is the coffee machine. Why would I spend another money just to be able to redeem the bonus?”

This is one of the most common issues about customers’ reward program: they are pointless and pretty much useless. Although stores and business establishments may have spent a lot of money for such a reward program, they may not see any positive outcome or good result. That’s because they have done a useless effort. It would be so much better, and wiser conduct, to think of something that customers appreciate and consider valuable.

BitRewards and Its Function

This is when BitRewards comes up to the platform and change the game. Through this platform, not only customers can get connected to companies and businesses, they will also get the satisfying reward for every purchase they make. And if they can refer friends or families into buying from the same businesses, they will get more rewards.

The rewards are in the form of cryptocurrency – the Bit – which can be redeemed or spent or kept. Let’s say that you get the rewards but you don’t feel like doing anything to it. That’s okay because you can keep it.

Bit Tokens

The main currency for this platform is Bit token, which is used for rewards, for paying off goods, and for means of exchange. Other currencies can’t be used within this platform and Bit token can’t be used outside of BitRewards. Public pre-sale has started from 12th of January to 31st of March 2018, while crowdsale will start from 1st to 30th of April 2018.

Any interested buyers should go to the official website, click on the purchase link, and follow the directions to complete the purchase. Besides the sales period, anyone can buy the tokens later through open market so they can get access to BitRewards.

Token Sale

Crowdsale Opening Date

09-04-2018

195 days ago

Crowdsale Closing Date

31-05-2018

143 days ago

Allocations

Team

Roadmap

November 2016 - February 2017
Development of a points-based loyalty system GIFTD designed to reward shoppers. (Сompleted)

February – October 2017
Structuring the concept of using Ethereum blockchain with loyalty and rewards tools and customer development of the crypto rewards for e-commerce industry, team hiring. (Сompleted)

October 2017 - May 2018
The full-functioning loyalty system BitRewards for the retailer and the user's crypto-wallet connected to the loyalty program, with access to the website of retailer and BitRewards website

March - June 2018
Retailer Crypto-wallet and liquidity management smart contract

June - July 2018
Integration of loyalty system with Lightning Network and Raiden Network (after the launch of these technologies).

June - August 2018
Customer’s Mobile app with crypto-wallet.

July - November 2018
Introduction of digital gift cards and scanning of loyalty cards into the mobile wallet.

September - December 2018
Mobile SDK for merchants’ apps.

January - April 2019
Integration of AI and machine learning into the BitRewards platform.

April - May 2019
Blockchain-based traffic exchange between online and offline merchants.

Written By

Isuk
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