REWARDS: redeem rewards seamlessly
INTRODUCTION
Loyalty and rewards are a part of every industry now. Health care, airlines, restaurants etc. all have their loyalty programs. It is difficult for the companies to manage their liabilities which are in the form of rewards with their customers. However customers are sometimes annoyed by the loyalty programs that offer little value. The loyalty industry grows at a rate of 30% annually despite challenges and approximately $300 billion worth of reward points are distributed worldwide annually.
THE PROBLEM
Almost every company has a reward or loyalty program to retain their customers. Reward programs are complicated and confuse the consumers. Instead, they should be simple and should pander to the needs of the consumers. The loyalty and reward program rules change every now and them which makes it very difficult to ascertain the true value of a point. This is very hurtful to the retailer and particularly to the member who collects these points to redeem in the future. Companies try to complicate the use of these points by adding terms and conditions, expiry dates, so on and so forth. They do this because the points are a liability for the company. The chance of earning points drives the consumers to purchase to some extent and they might feel rewarded when they earn points, but that might not be the case when they want to redeem them.
THE SOLUTION
Rewards marketplace has been established for five years now. Rewards users have enjoyed great loyalty incentives from over 7000 merchants selling millions of products. But things are going to get even more exciting with rewards.com because they have created a loyalty rewards token based on blockchain technology. The new marketplace will launch with millions of members. An existing reward member will now earn funded reward tokens. Any member that makes a purchase at rewards.com, will enjoy big discounts, enter contests, win prizes and grab free upgrades. Plus, every time a member buys, they also earn funded reward tokens. Their tokens are deposited into their rewards wallet and they can trade them on the exchange or redeem them against purchases with added discounts. A reward member can gift tokens to other reward members. Rewards members enjoy a stable real value token. Everyone benefits from a transparent blockchain reward system. Contributors can't wait to buy reward on the exchange and merchants love the increased spending and loyalty.
CONCLUSION
There is a hype about the project in the market. The platform uses blockchain which lowers the management cost to a huge extent. If some of the fortune 500 companies agreed to sign up with the Rewardstoken, then the project could be a huge success. Rewards wants to assemble a marketplace that will put 100 million products and 7000 merchants together. The members can earn reward tokens and redeem at any merchant who participates in the project. The aim of the project is to give true value to customers.
Website - https://www.rewardstoken.io/
Whitepaper - https://www.rewardstoken.io/wp-content/uploads/2018/05/White-Paper-2018-Rewards-final-1.pdf
ANN - https://bitcointalk.org/index.php?topic=3512435.0
Telegram - https://t.me/joinchat/HnjHHk01ZN-R39eUe2VJZA
Published by - Etheran
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