UNIVERSAL REWARD PROTOCOL (URP) ICO; A REVIEW
While online retailers have leveraged data collection to thrive, in many traditional retail stores, a customer’s overall shopping experience or preferences may be difficult to determine. This furthermore makes it difficult for them to find out what products should be advertised or sold to their customers. For customers, they feel that they aren’t rewarded properly for participating and relating with these companies.
In recent years, retailers have embarked on a herculean task of engaging their customers both offline and online. In light of recent events, individuals deserve transparency as far as their personal data is concerned.
Universal Reward Protocol is a blockchain-based protocol that bridges the gap between online and offline shopping channels. The vision is to create a system where shoppers can hand-pick which behavior, whether online or offline, they want to share with retailers to get a more personalized experience. By interacting with retailers and accepting to share their shopping behavioural data with the network, a shopper earns reward tokens, while the data is used by retailers to build redemption offers that best suit each customer’s needs.
Customers can finally enjoy all the rewards of a fully customized, omni-channel customer universal reward program with their favorite retailers. The priority is customer’s privacy backed with transparency that comes with blockchain technology.
How does Universal Reward Protocol work?
Universal Reward Protocol is a blockchain-based protocol that serves as the all-encompassing infrastructure for decentralized applications (dApps) that analyze shopping behavior. Using smart contracts, retailers define behavioral conditions to be fulfilled by shoppers to earn a reward: the Proof-of-Behavior (PoB). Each dApp on URP defines a set of behaviors it is able to certify by producing PoB.
Upon presentation of the PoB to the smart contract, the shopper is rewarded and receives tokens. The collected data is then sent to retailers to tailor personalized and exclusive offers to shoppers.
Existing dApp
An existing dApp called Occi will be integrated with Universal Reward Protocol. Occi can produce Proof-of-Behavior regarding in-store activity, using a combination of IoT and AI technologies. This solution has been deployed among top retailers, such as Carrefour, Auchan and Galeries Lafayette, and covers more than 100,000 square meters of retail floor.
Leadership team
URP was founded based on a research program by two alumni from Ecole Polytechnique (Leading French Engineering School) and UC Berkeley. Thomas Wolf, former CEO France and Regional Director Europe of Catalina Marketing, joined Universal Reward Protocol as Chief Operating Officer. The team is quickly growing and has recruited top talents from the retail, blockchain and financial sectors.
PROS
Distributed Data Storage: URP allows customers to decide which retailers they want to share their data with. This sensitive receipt data is isolated between the retailers while your navigation data will be available to every node on the network.
Utilizes IoT Technology: Since it combines blockchain technology with IoT technology, users are able to receive detailed data reports on their shopping habits while also having encrypted data that’s protected from unauthorized third parties and hackers.
Affiliated Businesses: URP has so far been backed by successful companies such as Auchan and Nestlé. With time, URP be used by other companies that are willing to learn more about their shoppers so they can better advertise and promote their products to them.
Universal Digital Wallet: This allows users to check their redemption contracts and rewards, change privacy settings and also check URP token wallet balance at anytime.
For more information, visit the online channels listed below:
👉🏼 Website: https://rewardprotocol.com
👉🏼 FAQ: https://rewardprotocol.com/faq/
👉🏼 One Pager EN: https://rewardprotocol.com/wp-content/uploads/Onepager.pdf
👉🏼 One Pager CN: https://rewardprotocol.com/wp-content/uploads/URP_One_Pager-CN.pdf
👉🏼 Light Paper: https://rewardprotocol.com/wp-content/uploads/Lightpaper.pdf
👉🏼 Whitepaper: https://rewardprotocol.com/wp-content/uploads/Whitepaper.pdf
👉🏼 Telegram chat : @UniversalRewardProtocolOfficial
👉🏼 Telegram Annoucement : @URPAnnoucementOfficial
👉🏼 Medium: https://medium.com/@RewardProtocol
👉🏼 Twitter: https://twitter.com/RewardProtocol
👉🏼 Linkedin: https://www.linkedin.com/company/reward-protocol/
👉🏼 Reddit: https://www.reddit.com/r/RewardProtocol/