WULET: Crypto-Cashback from Everyday Purchases

clauming (7)in #crypto • 6 years ago (edited)

Introduction

Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc.

An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

Definition

The project I am going to present you is Wulet, a blockchain-based platform that will offer its users the opportunity to receive cash returns of their daily purchases in the form of cryptocurrency. This platform will allow the management and exchange of bonus points between loyalty programs of different companies.

As I said, Wulet (WU) (https://wulet.io/) is a platform that unites all loyalty programs with a synergistic effect for companies. We are creating the definitive tool that will help customers to store all their cards, discounts and coupons in a convenient system, to exchange loyalty points of different companies and use them in time for maximum effect. Meanwhile, it will allow companies to raise the management of loyalty programs to an entirely new level, benefit from entering a "blue ocean" market of negotiable loyalty points and increase ROI and the customer retention rate.

Goals
The main goal of Wulet to create a new branch of possibilities for the market, allowing users to exchange loyalty points gained and engage those users in consumption to a whole new level with mutual benefits for all.
More specifically, Wulet is designed to help clients get rid of a huge number of loyalty cards by uniting all programmes into one easy-to-use application, to popularise the everyday use of cryptocurrency and to create a platform that will allow its users to spend cashback as they wish.

Ecosystem

Image	Description
	The system will allow customers to decide what bonuses they need and companies to maintain loyalty programs that are already known and loved. Companies can advertise their bonus programs, which will increase brand awareness. The establishment of an internal exchange will attract the main market agents. WULET will charge a commission to the clients for the purchase of the bonus points in the stock exchange.

Image

Description

The system will allow customers to decide what bonuses they need and companies to maintain loyalty programs that are already known and loved.
Companies can advertise their bonus programs, which will increase brand awareness.
The establishment of an internal exchange will attract the main market agents.
WULET will charge a commission to the clients for the purchase of the bonus points in the stock exchange.

It is very simple. Well, the user only has to specify his phone number when registering and all points of all loyalty programs will be automatically displayed in his personal account. The internal exchange with the individual exchange rate of each program will give you the opportunity to choose how you want to spend exactly the accumulated points.
This allows loyalty programs to be simpler, more practical and more pro-table for the average user. At the same time, it also allows companies to attract new customers and retain their current customers.

Tech	Description	Benefits	Pic
Internal Exchange	It will allow customers to decide what bonuses they need, and companies to keep those loyalty programs that are already well-known and loved.	1. All loyalty points will be tradable 2. Exchange rate will be set by the levels of supply and demand 3. WU-token will serve as a universal measure among loyalty points
Mobile App	It will help customers to get engaged in a game, where they are not pressured by intrusive advertising but receive the most precise offers at the moment of request/purchase/exchange/receiving loyalty points.	1. Easily find the company you need with our convenient app 2. Convinient wallet for all your bonus cards 3. Manage, redeem and exchange your loyalty points timely

Before	After
You participate in multiple loyalty programs, where each one has its own internal structure of points and privileges. You can not use or exchange the points received in the different programs as desired. The storage of all your existing bonus cards is uncomfortable.	The payment information is loaded in WULET using a QR code. You can spend your bonds in the associated markets, save in the form of a WU-token, or sell them in the internal market of WULET. All discounts and promotions are in a single application, WULET, and it is not necessary to go through each program individually. You earn profits, and the store gets a loyal customer.

Bounty

The project gives the opportunity to earn Wulet tokens performing some social media tasks and doing simple steps from the bounty program explained into the Bitcointalk platform. Here (https://bitcointalk.org/index.php?action=post;topic=4455279.0) you can access the link in order to see what are the conditions to become an early WU contributor and start acquiring tokens.

Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://wulet.io/wu_pres_en.pdf). You can also stay tuned in their official Telegram group (https://t.me/wulet_io). I hope you liked the post and soon I'll send you new ones.

Roadmap

Date	Event
2017	WuChat app – inspiration of WULET.
May 2017	Pre-sale starts.
3Q 2018	Main stage of the crowdsale.
Nov 2018	WULET private alpha.
Dec 2018	Plug-in for R-Keeper. Payments in WU tokens.
Jan 2019	Testing by private partners.
2Q 2019	Web interface & partners dashboard.
4Q 2019	Additional tests and revisions.
1Q 2020	WULET public beta within one city.
1Q 2020	Architecture optimization; WuShop release.
3Q 2020	WULET public release.
4Q 2020	Additional market expansion.