AN OVERVIEW OF THE UNIVERSAL PROTOCOL PROJECT

Introduction

Over the past twenty years, there was a noticeable rise in the boom of e-commerce via the numerous distribution method including cell programs and internet site.

Correspondingly, traditional retail stores and types have confirmed to this trend of e-commerce.

This notwithstanding, most retail businesses still takes location in the physical shop where clients get to sight, feel and attempt the particular item they intend purchasing earlier than purchasing it. This might be why majority of the retail income these isn't always achieved in on-line stores. Idealness in the retail industry is a state of affairs wherein cutting-edge stores with manufacturers can understand, take on and compensate customers and end-customers in a unique way. When shops run their offline and on line stores efficiently, they can get to recognise several matters about their clients’ shopping choices, tastes and attitudes just as we have it with Amazon or Jumia.

Whenever shops earmark a few cash for advertisement, the bulk of it is going for couponing and rebates, however, majority of these commercials are as a substitute customary and such generalization of advertisements has further distance what the customers expects and what they revel in without a doubt in the store. Therefore, there's a developing want for a logical answer that can ensure massive reach, high-quality facts and versatility. This is exactly what Universal Reward Protocol seeks to attain using the Blockchain generation and Smart Contracts.

Problems of the Retailing Business Market

The e-commerce market is a multi billion sales one this is very promising. However, it has a few challenges hampering its increase through the years. We will be discussing these issues with appreciate to the 2 primary actors inside the system; the outlets and the clients. Firstly, let’s start with the retailers.

In the last 10 years there was an observable decline inside the development of physical retail business as it's far below chance by means of digital commerce (on line retail stores) as well as e-purchasing taking the lion share in the industry and actually, setting up a new supply chain pattern. In reaction to this, shops have tried exploring new sale mediums and this comes with plenty of problems in tracking and managing their client preferences as feedbacks obtained aren't saved up in a point.

Yet every other trouble of retailers is that there is no medium of concerning without delay and straightforward with their customers other than the praise software or traditional mass advertisement.

For the customers but, the important thing challenge is the absence of personalized buying enjoy both in bodily shop and online shops. Shoppers opt to patronize physical stores because of the experience they get there, however then it's far very difficult for those bodily shops to hold a track of visitors to their keep or an inventory of what they are seeking for.

Solution Offered By Universal Protocol

Occi, a French corporation has diagnosed these issues that the customers and shops face and has cone up with a possible solution within the form of a platform where shops and producers deal at once and brazenly with their shoppers. The Universal Protocol is a blockchain-oriented protocol which allows shops to compensate the consumers for every purchasing pastime undertaken.

The Universal protocol is designed in a manner that buyers who agree to percentage information about their purchasing sample receives compensated via the URP tokens. The records so retrieved via the retailers is used to fashion redemption plans that is in keeping with the specific demands of the shoppers. Shoppers can now used the earned tokens to access the custom designed and distinctive offers.

Conclusion

Universal Protocol is essentially a blockchain-primarily based platform wherein buyers receives compensated via the URP for sharing facts approximately their shopping experience and receives absolute manage on their information whilst still playing the privileges offered through outlets.

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