BitRewards - Blockchain Rewards and Loyalty Platform

BitRewards is a blockchain loyalty platform and ecosystem that enables retailers to reward their customers’ purchases, friends’ invited and other configurable actions with crypto-currency. It has an absolute value for the customers, as they get for their purchases the liquid Ethereum-based tokens, which can be redeemed for purchases or transferred to another crypto-wallet. The price of the tokens is also set for growth due to our unique business model, so these rewards may go up in value in the course of time, rather than expire.

BitRewards also brings a lot of benefits to the retailers, because they get customers that are more satisfied with the rewards in crypto and become even more loyal. A comprehensive loyalty program increases the retailers’ revenues. byThe storesdzensare alsoof tappingercentintothe crypto-enthusiasts audience, which is quite active and appreciates the attention from the regular businesses.

The unique value proposition for the retailers is that BitRewards will offer this valuable and expensive loyalty technology free of charge. The retailers will only have to buy BIT in the open market to reward their users. The value of such software starts from $200/month, therefore thousands of retailers will be keen to connect to the platform. We can make such a claim, because we operate in the market of rewards and loyalty software for more than 5 years, have more than five hundred clients — online stores and deeply know their needs. BitRewards also uses AI-based predictive analytics, which allows to configure the rewards and actions for each particular business to address its unique target audience and achieve the highest return on investment from every dollar spent on the rewards.

Loyalty Management Market

Loyalty systems in retail are designed to reward customers for their past purchases or other useful actions and to provide them with incentives for making future purchases. A rewards program enables activation, retention, up-selling and referrals, along with providing strong value offer to the customer. A typical loyalty management system is comprised of operational parameters, such as transaction types, program design and funding options. It further includes value parameters such as redemption options, redemption thresholds, and earnings rates.

And businesses are actively adopting loyalty programs:

63.7% of small businesses plan on using a customer loyalty program in 2016 (Belly)
38% of executives have a dedicated budget for customer experience (Leapfrog Marketing Institute)

The market for loyalty programs is growing and will reach $4 billion by 2020 ("Loyalty Management Market” report by MarketsAndMarkets). There’s approximately another $1 billion in digital gift cards, and at least $11 billion in referral solutions. On top of that, more than $50 billion loyalty points are issued globally each year. According to a Deloitte report, enrollment in loyalty programs across variousindustries reached 3.3 billion memberships in 2015 and has more than tripled since 2000. Despite this rapid growth, customer loyalty rewards programs are not realizing their full potential.

Features of ICO BitRewards

Incentives

Due to the company's unique business model, reward systems allow incentives to continue to increase over time. In addition, the rewards are given in the form of electronic money that is not the core, thus enabling better customer satisfaction.

Affordable

Compared to conventional retail systems that cost more than $ 500 per month, BitRewards BIT will be available for $ 200 per month.

Visually

To gain access to its rewards program, BitRewards uses AI-based predictive systems. This program allows the automatic configuration of the core system to change its functions based on the needs and needs of each specific business and its target audience.

Compatibility

BitRewards is compatible with "most e-commerce systems". These include platforms like Magento, Shopify, WordPress, and Ecwid. Not only that, the API is quite easy to use and can easily be integrated into other e-commerce programs.

BitRewards Benefits

New customer experience

BIT Token and Token Sale Information

As I explained above, that BIT Token is the internal currency that can be used by the ecosystem in conducting transactions. For merchants who want to join and connect with BitRewards must have BIT Token Sale event is held directly by developer from BitRewards.

Token Sale is a fundraising event conducted by teams and developers directly to raise capital and to develop related platforms. BIT Token Sale is a BIT token sales event for the purpose of building and developing the BitRewards platform as a loyalty platform in the blockchain based e-commerce industry.

BitRewards itself has a token called BIT, an ERC20 token. This token will be used in all activities in the BitRewards ecosystem. All BitRewards Platform traders and partners will use this token as an internal currency.

BitRewards Token

BitRewards Tokens are designed to appreciate over the course of time. Crypto assets markets can be volatile, and the market price of BIT can depend on the general market conditions and expectations. Since BIT’ main purpose is the meanstisofimportantpayment, thatirate theagainsttoken’scryptoor fiat currencies does not change rapidly and has liquidity at all times. In order to provide for this liquidity and mollify the market fluctuations, a Bancor Formula (a product of Bprotocol Foundation1) based smart contract will be created. It will allow for the buying and selling of BIT and will also be used to increase the market demand and supply when the token rate fluctuations leave a certain corridor.

The special liquidity smart contract will hold a reserve of tokens of the BitRewards system and means. Anyone will be able to buy or sell BIT simply by sending ETH to thes. contract’sThissolutionis add able to provide for the liquidity of tokens and solves the problem of a “double coincidence of wants”,

when a buyer and a seller have to match the time and place for the transaction to occur. A liquidity smart contract always acts, as one of the parties either selling or buying.

Token Allocation

Token Generation Event Details

BIT token is an ERC-20 standard-basis Ethereum token.

BIT token allows for the payment of goods and services in partner merchants of the BitRewards system and can also be converted into ETH/USD at the open market, or at the BitRewards liquidity contract. Tokens will be offered on a private whitelist subscription, effective as of 25th of December 2017.

The members of BitRewards team are not allowed to distribute their BIT tokens within the three months after the Token Issue Date. After that period, all BIT tokens of the BitRewards team will be released for distribution in the amount of 20% of the tokens owned by a member of the BitRewards team every month, so that seven months after the Token Issue Date, all BIT tokens owned by the members of the BitRewards team are released from lock-up.

BitRewards Benefits

New Customer Experience

The BitRewards decentralized loyalty system creates a unique, user-friendly customer experience:

The regular customer’s dashboard with loyalty points turns into a full-fledged crypto-wallet linked to hundreds of merchants. Creation requires only a simple registration with a Facebook account, email or phone number. It can be used as a regular wallet for the storing of BitRewards cryptocurrency, as well as other currencies (Ethereum, Bitcoin, etc.), growing in value of the received rewards (connected with the growth of token).
The bonuses in the form of BIT from different merchants are accumulated in one customer’s account, which is connected to the entire BitRewards Network.
The tokens can be redeemed with any merchant within the BitRewards Network and the network’s partners that can promote their business with additional bonuses and discounts for the BIT token holders.
Customer crypto-wallet’s BIT balance will also be connected to the bank debit plastic or virtual card, which the users can spend just as if they used their regular Visa or Mastercard.
Maximum flexibility and security of the rewards: tokens unlike points don’t expire; they can’t get lost, or cease to exist if the merchant goes out of business.
An easy way to make purchases in cryptocurrency: Ethereum and Bitcoin can be credited to the customer’s BitRewards account and be used as payment with BitRewards’ participating merchants.
The token’s value is set for appreciation due to an increasing demand from retailers and the general prevailing bull market nature of crypto-markets right now.

Advantages to retailers

The retailers connected to the BitRewards Network acquire new marketing tools and increase customer loyalty:

Free, but powerful and flexible loyalty program for any retailer, brand or service.
Unique opportunity to reward customers and pander to cryptocurrency enthusiasts wants.
Great chance to stand out among competition and promote a brand or a store.
Outstanding value for the customers: BitReward’s business model suggests constant appreciation of BIT. (When customers hold BIT received as a reward from a store, they may see their value go up over the course of time).
Seamless convert of BIT into Bitcoin, Ether and any other cryptocurrency right in the user’s wallet on merchants’ websites, or on any other wallet or exchange.
Amazing incentive for customers when their reward amount grows, enabling the merchants to communicate good news and attract a lot of repeat business.
Cross-redemption of BIT: users can redeem BitRewards Tokens with member merchants, or any other participating operator. Something, which will make them feel valued much more than when receiving standard points.

Platform, ecosystem and community

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 BitRewards Network is an ecosystem, which is beneficial to all participants, including customers and retailers. Each retailer connected to the network increases both their value, and the overall value of the network.
The ecosystem participants benefit from significantly cutting down their expenses on loyalty management. They also get access to a top-notch rewards and loyalty system free of charge, something which was previously only affordable for large players.

BitRewards promotes members of its community in every possible way: by exchanging the best practices, by using the platform, for starting advertising campaigns, and by developing new applications. The BitRewards community will not only promote the rapid growth of participating businesses, but also give a voice to its members on the future direction of the platform.