BitRewards - Cashback & Loyalty Points in Cryptocurrency.

Hello Guys, Meet me Again..!!

Today I will bring a summary of information about BitRewards - Cashback & Loyalty Points in Cryptocurrency, Merchants get a premium AI-powered rewards platform for free, Shoppers are rewarded for purchases with cryptocurrency.

About Blockchain & Cryptocurrency

in 2017, Bitcoin and other cryptocurrencies experienced unprecedented price surges. Some are speculating this is a bubble. Others are investing heavily. Whereas others, looking beyond price movements and speculation are creating numerous solutions from the technology behind cryptocurrency, the Blockchain.

In 2018, we are so used to shopping online that we are starting to forget how things were before the online retail sector got big. A lot of things that we, consumers and retailers, took for granted were impossible in the not so distant past.

Many small businesses don’t have the resources to implement loyalty schemes and perilously push them to the bottom of their priorities, but, looking at the statistics, it’s clear that rewards systems are massively influential in securing longevity for your business.

As you may already know all cryptocurrencies are powered by the blockchain technology and all transactions are performed on blockchain in a very secure and properly maintained environment. Making it easier for banks to send secure, encrypted, automatically validated, fast and tamper-proof transactions would transform financial services.

 

BitRewards is a Blockchain loyalty platform and ecosystem that enables retailers to reward their customers’ purchases with crypto-currency. Customers, the end-users, are rewarded for their purchases with liquid Ethereum-based tokens (BitRewards), which can be redeemed against future purchasing or offers, or transferred to another crypto-wallet and spent on other goods/services.

We are building BitRewards as a spinoff from this successful business, because with Blockchain technology, we can take a new, more innovative approach towards solving loyalty and rewards challenges, creating more value for retailers, consumers, the community and investors.

With the arrival of the blockchain, the broken loyalty trade is absolute to modification. we tend to area unit nice believers that good contracts and cryptoes area unit the core engines and fuel for a replacement era of client loyalty. Ethereum permits the adoption of chic technical solutions.

Mission

Our mission is to form a present and loyalty platform that may penetrate on-line retailers of all shapes and sizes and connect them with their customers supported BIT tokens.

With the emergence of decentralized technology, bringing a new approach to transfer the value of loyalty, the industry is bound to change depth.

Problems Solved by BitRewards Loyalty Systems

1. Account inactivity

BitRewards consolidates retailers in the integrated open-loop loyalty system and provides a simple and convenient user interface with a customer-centric approach.

2. Low redemption rates

Unlike the existing loyalty systems that give points, BitRewards transfers value into tokens and credits them directly to the customer’s wallet. The value of the rewards denominated in crypto-currency is poised to go up along with the growth of the crypto-economy and the market share of the blockchain based services and infrastructure, which will make customers want to spend their tokens for additional purchases.

3. Increased costs for customer service
Merchants can use the BitRewards platform for free. It can be easily installed, and set up and does not require any special technical knowledge or skills.

4. Low motivation by offered rewards
Customers will perceive the received crypto-currency as being “for free”. It will spur their additional interest in cryptocurrencies and initiate demand for valuable rewards from the places they will shop at.

BitRewards System

All merchants get access to the AI data analysis system. We call this BitRecommendations, which automatically recommends actions and rewards, which aimed at offering the customers various actions and rewards that are incentivizing the most productive behaviour of the customers for every particular merchant.

The retailers connect to the BitRewards loyalty system by installing the readymade GIFTD extension or by integrating it with their own loyalty system. This solution rewards customers with BIT for their and their friends’ purchases as well as other actions. The module performs all the required token processing through the BitRewards platform.

The value of BIT may appreciate because of the limited initial issuance of 2 billion tokens and the constant leading demand for tokens from the growing number of retailers joining the platform. The probable appreciation of BIT encourages customers to save their tokens instead of redeeming them for purchases, thereby also reducing the amount of free-floating tokens.


BitRewards Tokens

BitRewards tokens are known as ‘BIT’, and comply with the ERC20 standard. BIT is an internal currency and is used to conduct all operations within the BitRewards ecosystem. Customers can also buy BIT at an exchange or via the Bancor liquidity smart contract.

The private key to a token holder’s BIT can be stored on the wallet provided by BitRewards network platform, through a standard Ethereum wallet, or on any wallet supporting the ERC20.

The value of the BitRewards token is determined at the open crypto-currency exchanges. The tokens can be exchanged into ETH, Bitcoin or fiat currencies. BIT tokens are accepted by all merchants that use the loyalty platform and other partners of BitRewards Network.

Market Strategy

BitRewards promotion among retailers, content management systems, website builders, and e-commerce service providers is one of the key tasks, as the BIT token value directly depends on the number of merchants in the network and the intensity of the adoption of the BitRewards rewards and loyalty apps.

Since we aim to develop a large community of BitRewards adopters, we plan to offer the comprehensive loyalty solutions and applications of BitRewards loyalty system free of charge. The value of such service is at least $200/month, for a small online store, and up to several thousand dollars for a large store. Such an offer is unprecedented and comprises a key component to our go-to-market strategy.

We will also open the platform’s code for the community and allow the development of the apps for any interested party. The developers will be able to offer their apps on their terms to retailers and make a commission income.

To attract the highest number of merchants using the BitRewards system, it is planned to apply three core strategies:

1. Active interaction with the community of entrepreneurs and online stores’ owners and managers.
2. Partnerships with e-commerce platforms and website builders.
3. Relationships with developers and service providers.

Value for merchants

Merchants get cutting-edge rewards and loyalty solutions for free (we now sell them for $200-$2000 per month). It’s a great new way to reward current and attract new customers. They receive cutting-edge crypto-rewards system for free. It gives them more sales (+17% avg).

A game-changing solution for merchants

1. AI-based BitRecommendations 

Decentralized crowdsourced recommendations solution for ecommerce businesses.

2. Factors for massive scaling 

We solve several problems that let us disrupt the $20B+ e-commerce loyalty and rewards market. The major factors: high cost and complexity of loyalty systems set-up, integration, and support for all shapes and sizes of the merchants, complexity, and inability to use the earned points for the customers.

Factors influencing the value of BIT tokens

Supply and demand define the BIT value. The demand comes from the merchants that use BIT to reward their customers' actions. The supply comes from the customers, who redeem their tokens.

1. Customers make purchases  

With any merchants who is a member of Bitrewards.

2. Network Merchants reward customers with BIT (instead of loyalty points).

The merchants buy BIT tokens at Bitrewards or at the Crypto Exchange. This drives the demand for BIT tokens up.

3. Customers hold BIT or spend tokens at the stores
They don’t spend BIT tokens immediately as they expect the exchange rate to grow. This drives the supply of BIT down.

BitRewards DAO

After the token launch, we will create the decentralized autonomous organization, BitRewards (DAO). The objectives of DAO:

• Run BitRewards business in the most efficient way.
• Create favorable conditions for the adoption of BitRewards platform by the large numbers of merchants.
• Create favorable conditions for the BIT token price appreciation

DAO Management Scheme

A member of DAO is an individual or a legal entity that has made transactions with BIT. The different types of membership (weights) are defined by the amount and features of operations with BIT during a certain period of time, preceding the estimation of the type of the membership. 

The majority of the decisions of the DAO are made by voting (simple majority). Any member of the DAO can put forward proposals.

The proposals include a description of the action, amount, purpose and conditions for transferring funds from the DAO accounts (if applicable).

In addition to the usual members of DAO, it can have Super Users. Super User Rights:

• Conduct everyday operations and management of DAO within the standard nature of its business.
• Instantly transfer any amounts between DAO accounts by a smart liquidity contract on Bancor technology or change the composition of the basket of currencies in DAO accounts.
• Put forward high priority proposals (including withdrawal of funds from DAO accounts), which are automatically executed 1 week after the date of the proposal, except for cases when at least 20% of participants are vetoing the execution of the proposal (veto power of DAO participants).
• Change the operational and other rules of the DAO according to the procedure of paragraph.

RoadMap

October, 2017 — May, 2018

The full-functioning rewards and loyalty platform with web app with the retailers’ and the users’ cryptowallet tied to the loyalty program of BitRewards, USA market expansion, research, customer development, marketing campaign.

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

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

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

July — November, 2018
The Alpha-version of the AI-based rewards recommendation and items recommendation, Asian market expansion, research, customer development, marketing campaign.

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

Tokensale stages

We may issue up to 2 billion tokens, and probably we will issue less (current estimation is about 1 billion BIT tokens, depending on ETH price).

The rule is simple: the amount of BIT tokens sold during all stages of the ICO will account for 64% of total tokens. At the end of the ICO, the remaining equivalent 36% will be issued and then all tokens will be distributed among the token buyers, advisors, team and the BitRewards Foundation.

Soft-cap Budget Allocation

27% Product Development
Product development according to the roadmap

39% Marketing, sales, merchant acquisition & partnerships
Expenses for attracting the retailers to the platform, making partnerships with payment providers, website builders, loyalty programs services providers and other partners.

12% Operations
Operational costs, non-tech staff salaries

6% Legal
Company and subsidiaries establishment, contracts with the retailers, development of legal opinions about the entire stack of BitRewards services and retailers’ operations, etc.

16% Management
C-level executives salaries

Token Information

• Token Name : BIT
• Platform : Ethereum
• Token Type: ERC20
• Token Price :
• 1 BIT = 0.00003472 ETH
• 1 ETH = 28 800 BIT
• Receive: ETH, BTC
• Token Issue Volume : Up to 2 billion
• Token Sale Volume : Up to 1.28 billion
• Token Sale Start Date : April 01, 2018
• Token Sale End Date : April 30th, 2018 or until all tokens are sold.
• SoftCap : $3 000 000
• hardCap : $15 000 000
• Exchanger Smart Contract Launch : May 11th, 2018
• Major Exchanges Listing : June-July, 2018
• Minimum Purchase : 1000

Token Distribution

• 12.00% - Reserve for liquidity 
• 64.00% - Total for sale now 
• 14.00% - Management 
• 3.50% - Advisers 
• 2.00% - Bounty 
•  2.50% - Marketing 2.00% - Contingency

KYC

Focusing on the safety of your contributions, once the ICO is completed we will request every token holder to go through the identification procedure (KYC) to confirm the identity and country of residence.


How to participate in the Pre-Sale/Crowd-sale?

To take part in the token offering, you should simply send ETH or BTC to your personal ETH or BTC address. Click «Buy Tokens» button to get a personal ETH and BTC addresses.

What happens if BIT hard cap is reached before the token sale end date?

If the hard cap is reached before the end of token sale, ICO will automatically stop, and we will end receiving contribution payments. 

Team 

The BitRewards team is probably one of the strongest teams out there in terms of, dealing with blockchain for the retail industry.


Conclusion

There is no fundamentally flawed blockchain, whether public, private, or consortium, and neither are any of the systems perfect in their current states. When deciding on the availability of a blockchain, it is worth considering costs, speed, and user accountability.

BitRewards will be one of the 10 projects who can finally do the pitch in front of TEAMZ BUSINESS SUMMIT investors, media, and audience on March 22nd. It is a great opportunity to present all capabilities of our product to Japanese market players.

BitRewards are happy to be among only 100 invited participants to attend Blockchain February — a monthly conference that gives a glimpse into the future of blockchain technology.

For More Information about BitRewards, please visit this Link below :

Website: https://bitrewards.network
Whitepaper: https://bitrewards.network/wp.pdf
Ann thread: https://bitcointalk.org/index.php?topic=2409919
Facebook: https://www.facebook.com/bitrewards.network
Twitter: https://twitter.com/bitrewards
Github: https://github.com/bitrewards
Reddit: https://www.reddit.com/user/BitRewards_network
Medium: https://medium.com/@bitrewards

Author : 

JuiceAnnabel

My Profile Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1718302