Universal Reward Protocol: Retailer's great tool for profit

Introduction

Can you just imagine yourself being rewarded for sharing your data? How do you see it if you can get paid for visiting a store? How will it look if you can get paid for buying a product or browsing online?

The above mentioned are almost unimaginable but with the advent of Universal Reward Protocol (URP), they become reality.

What is Universal Reward Protocol?

Universal Reward Protocol- URP leverages the blockchain technology to put the right tool for great visibility and returns into the hands of retailers by helping them to collect customer’s personal shopping behaviors and rewarding them for their interactions and visits to their store (both online and offline). URP makes sure that the customer’s shopping behaviors to be collected from the customers are solely with their authorization.

Using The Blockchain Technology

Universal Reward Protocol is built on the blockchain which makes its mission possible and the tasks doable because of the decentralized network which allows transparency in all transactions and are visible to all and also cannot be altered or deleted. URP leverages the use of smart contracts which is self-executing. Smart contracts will enable retailers to collect and analyse customer's shopping behavior and ways to be able to use them for great visibility and have good returns on investment and at the same time reward customers for their interaction and visit to the shop. The rewards are given to customers in URP token which will help retailers to have more visibilities and patronage and also make customers wanting to shop more and willing to release the shopping behavior data and invite other to do the same. The smart contract removes any intermediary between the retailers and customers and allow retailers to interact directly with customers.

How it Started

In 2015, Berkeley and Ecole Polytechnique, the founders of Universal Reward Protocol started to build an end-to-end technology solution which allows retailers to identify and analyze visitor’s shopping behavioural path and to interact with customers before, during and after shopping. This was a great help as It provides retailers with valuable and previously inaccessible data, to improve the understanding of shoppers’ behavior and be able to utilize them for greater visibility and improve on the capacity to be able serve them better.

How It Works

Shoppers Earn Rewards
Shoppers share their personal shopping behavior which help the retailers in great ways to serve the customers better and to take advantage of the choice of shoppers in order to make their desired goods available and many more. Then the shopper gets rewarded with URP tokens just for sharing his/her personal data with the retailer. Examples of data that could be collected by retailers include the preference and choice of goods, that he visited a point of sale, location and so forth. This is exciting! to earn reward just by sharing data. So shoppers earn for each of the interaction with the retailers.

Retailer's Token Redemption
Retailers make tailored offer to their shoppers based on the shared data. Then retailers can retrieve their token (URP) by making exclusive offers in a personalized way based on the data the shoppers have shared with them and utilize them for greater visibility and be able to have more returns on the investment.

Data Security & Transparency
Of recent, a popular social network was accused of selling people's data and it became a very serious issue. Therefore, Universal Reward Protocol provides a blockchain based ecosystem (platform) where shoppers can regain full control of their data after sharing them with retailers and enjoying personalized offers made by retailers without any hindrance. This is so amazing!

Benefits Of Universal Reward Protocol

To The Retailers

On URP, retailers are presented with the opportunity to give rewards to their customers which could be based on that shoppers share their data in form of personal shopping behavior with them. Through this avenue, more customer will visits their stores and website based on the tokens they will receive which could bbe converted to money. Retailers can also use this avenue to improve on their products and services and earn more returns on investment. Moresore, Universal Reward Protocol foster more unity and loyalty between retailers and customers as it gives rooms for more interaction between retailers and customers. Through the use of IoT Push and Play sensors and also Proof of Behavior Data API integration, retailers can track customers’ real-time interaction in both online shops and physical stores.

To The Customers
Customers get rewarded simply by sharing their data in form of personanal shopping behavior with retailers. This is an amazing bway of earning extra income as customers to any retailer's shop both online and physical shops who are using Universal Reward Protocol. The joy of it is that customers are still in full control of data collected from them. URP platform makes sure that only data that the customers wish to share are released to the retailers and they still take control of the data. URP also allows customers to store their earned rewards in a wallet and customers can use the URP token received from a retailer for shopping in that same shop or another retailers shop on the platform.

My Review

Universal Reward Protocol is a great platform with real life application and utility token. It is a promising project.

Token Details

Watch the Video here

For more information, visit;

Website: https://www.rewardprotocol.com/

Whitepaper: https://rewardprotocol.com/wp-content/uploads/URP_Whitepaper-1.pdf

Telegram: https://t.me/UniversalRewardProtocolOfficial

Username: Petoz