The e-commerce market is a global giant. For private consumers around the globe, the most well-known form of e-commerce falls into the business to consumer (B2C) category, which includes online retail or online shopping. In 2017, an estimated 1.66 billion people worldwide purchased goods online. During the same year, global e-retail sales amounted to 2.3 trillion U.S. dollars and projections show a growth of up to 4.48 trillion U.S. dollars by 20211. In Asia Pacific, e-retail sales accounted for 12.1 percent of retail sales in 2016 compared to 8.1 percent in North America, and only for 1.8 percent of retail sales in the Middle East and Africa.
The challenges for players in this giant market are key, including customer loyalty, achieving profitable long-term growth, and choosing the right technology and partners, among others.
Now, imagine the explosive combination of e-commerce, blockchain technology, and cryptocurrencies: the IOU Platform, a true P2P e-commerce loyalty platform on the blockchain.
It aims at empowering blockchain Merchants and Consumers with decentralized and secure Peer-to-Peer technology driving customer satisfaction and loyalty through Merchant’s trade-able IOUs. IOU Platform can successfully address many of the challenges of the e-commerce segment.
IOU reinvents existing loyalty systems in order to provide more flexibility, control, and many more benefits for Merchants in order to guarantee the highest possible level of consumer satisfaction for the incurred marketing expenditures.
IOU “loyalty system” allows business owners to create a new level of interaction with consumers and, most importantly, provides the opportunity for consumers to freely exchange their purchased IOUs with other consumers for other IOUs which are needed more for those trading parties.
IOU obligations would become Flagship Blockchain Loyalty Programs for Merchants, secured and effective way to promote special offers to Consumers.
Consumers would securely acquire IOU offers from the Merchants with specific terms for the promotional product or service such as time of expiration, limited quantity and exchange terms. Such flexibility would give Consumers certain time-frame to utilize products or services or provide opportunity to trade their IOUs with other Consumers anywhere around the world.
IOUX token will be used on IOU Platform.
The token IOUX is expected to be utilized in many ways, including:
• Escrow Management
• VIP Merchant Status
• Consumer Purchases of IOU Merchant Offers
• Loyalty Token Grants
• Promotional Offers
Merchants must pay 5% Gas fee in IOUX Tokens for every IOU offer issued for Consumers (in addition to the 5% Fee on any purchases made by other cryptocurrencies, while purchases made by IOUX Tokens would be exempt). In exchange, to provide incentives for the IOUX Token holders, every IOUX Token transaction would be granted an additional 5% Discount to the Consumers. Additional 10 Loyalty Tokens would be given equally each time to both Merchants and Consumers after accumulating transactions of 1,000 Tokens.
Merchants would also have an option to Guarantee the Service and issue refunds of payments if product or service offered by their IOU offers was not satisfactory. Thus, additional IOUX Tokens would be escrowed until the completion of the term of the IOU Offer. During issuance of IOU offers, Merchants must agree to the Token Discount, Service Guarantee,and Gas Fee Terms.
Web: https://iou.io/
White paper: https://iou.io/assets/pdf/whitepaper.pdf
Ann Tread: https://bitcointalk.org/index.php?topic=4845370
Bonus features: https://bitcointalk.org/index.php?topic=5001075.0
Telegram: http://t.me/IOUCommunity
Facebook: https://www.facebook.com/iouico/
Twitter: https://twitter.com/iouico
Medium: https://medium.com/@realIOU
Reddit: https://old.reddit.com/r/iouplatform/
Github: https://github.com/iouico/IOU/
Written by:juv3ntus1(https://bitcointalk.org/index.php?action=profile;u=2039680)