Topic: [ANN] RetailCoins - Common Token to Support Swaps of Retail Loyalty & Rewards (Read 468 times)

It seems like you postponed the finish date of the token sale to 15/06/2018 that in the website https://retailcoins.eu/ it's remaining 27 days. Please adjust dates in your post or in the website. The team is leading the project to success.

UPDATE!

Last week we have received confirmation from the AFM (Dutch SEC) that Retailcoin has been classified as Utility Token. We are proud to announce that this means that under Dutch law (Retailcoin and Digital Retail Foundation are structured under Dutch law) will not receive AFM oversight for the emission of Retailcoin!

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Hmm.  Very interesting idea.  I know here in the US, having rewards programs are beneficial to customer retention.  I'm curious to see if you plan on going global with this idea, or just keeping it to Europe?
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Interested in how this project is going!  Do you have any updates?
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Hi Frumjanet,

Yes we have some quite exciting updates!

1. My first child has just been born! Sorry for the delay in response, you can imagine the hectic time. An amazing cute little girl.
2. We have finalized the Digital Retail Foundation, the non-profit organization, lead by one of the former Directors of the National Police and one of the former Directors of Microsoft.
3. We are still going strong on the sales side for retailers and improving the awareness around Retailcoin in brick&mortar stores
4. We have reached an agreement to create the first city-app with Retailcoin integrated to support 200+ retailers
5. We are waiting on official approval from the Dutch AFM (SEC) for confirmation of Utility classification
6. We are updating our whitepaper with more and more clear information, which will be published before the end of next week
7. We have had the opportunity with lot's of media attention including national radio (BNR https://www.bnr.nl/nieuws/ondernemen/10338843/de-retailcoin-een-digitale-zegel-voor-alle-winkeliers), national magazines (Emerce https://www.emerce.nl/achtergrond/retailcoin-blockchain-koppelen-spaarprogrammas), online shows (Fast Moving Targets https://www.youtube.com/watch?v=OQYuQ3lG40Y&t=3s , ColoringCrypto Podcast http://coloringcrypto.com/index.php/2018/02/25/25-a-healthy-blockchain-disruption-of-loyalty-programs-with-retailcoin-architect-hugo-leijtens/)
8. Our Telegram group will be online this week!

And as a bonus: we are very happy to announce that in our ICO/pre-ICO there will be 0 free coins available!! Our pre-ICO is going fairly well (although we could still use some support!) and no coins have been provided through airdrops or bonus coins or anything like this. We have created some partner coins which will be locked for 3 years and some employee coins that will be locked for 5 years.

If you would like to support, please visit the Early Bird: https://retailcoins.eu

Absolutely! We have discussed this with all of our current customers and everybody will start using it. They really like what we are doing on the innovation side and believe in the concept that we are introducing with Retailcoin. These are smaller retailers. We are also partnering with different larger platforms including: http://newblack.io and offering Retailcoin with their customers.

We currently rely on channel marketing, on which we educate the retailer to stimulate adoption among consumers. At the moment we see about 30% - 50% of the retailer customers downloading the loyalty app they have in place today. Some retailers achieve a higher adoption rate, some a little bit lower. We believe that once the integration is finished, the ability to save crypto-currencies will accelerate adoption.

Consumer adoption is great to do 'in-store', but we also focus on consumer education and hype once we have delivered Retailcoin for production.

Do you have any agreemets will retail companies to introduce this token in their loyalty programs? How do you plan to promote the RetailCoin adoption among consumers?

We had Hugo as our 25th guest on Coloring Crypto.
Check it out:
http://coloringcrypto.com/index.php/2018/02/25/25-a-healthy-blockchain-disruption-of-loyalty-programs-with-retailcoin-architect-hugo-leijtens/

Interested in how this project is going!  Do you have any updates?

Hi SirDanW,

Thank you for your feedback! I agree it's not convenient to make payments with bitcoins, and it's much to expensive. At the same time, if we can find a currency that is usable, it would provide more trust towards making crypto a valid payment options. And at the same time I can definitely understand your point. Let's move forward with the fiat option first, as adding crypto later isn't the biggest technical challenge!

You promise that after 7 years, investors will receive their original investments in case they will avail that. But is 7 years too long in crypto business? It's like forever. Even months in crypto is already long as movement of digital currencies are so fast that you have to be at the top of the game. But at least your giving promises here that are achievable rather than too good to be true.

Hugo,

Thanks again for updating!  I think that there's a fine line between ensuring the value of a crypto, and the volatility we've seen in the space since inception.  As I would like to be able to walk into a store and use crypto to buy goods, I also would wonder (similarly) if I took an share of Apple and tried to buy groceries with it, if I would be able to.  The more people see cryptocurrency as a store of value, the more difficult it may become to encourage people to use it for micro-transactions.  However, having a fiat option would, IMO, be a much better angle for your purpose.

Today I had a really good talk with a Payment Service Provider in The Netherlands about Payments and Crypto. They have a patented wireless payment system for Europe with a strong customer base in The Netherlands and they are in possession of a Bank License. We discussed if it would be possible to integrate crypto currencies payments in our app, next to our Retailcoins Loyalty program. Enabling not only crypto-payments inside our Retail apps but also fiat-payments, would be in my opinion a nice feature, especially if it's possible to split the payment between a bit of crypto and a bit of fiat payments. Recently I received some questions from a local retailer if it's possible to integrate our Dutch crypto payment: NLG https://gulden.com/ but up to now it has only been one retailer.

May I  ask your opinion? What do you think of integrating crypto payments combined with crypto loyalty? Would you like to be able to use crypto for payments at phsyical stores?

This project will be a really good fit for people from almost any country, as the retail is needed everywhere.

In my opinion, this is what the best and most successful projects of 2018 will have to conform to.  No more shady ICO's, no more hidden teams, and misguided whitepapers.  It looks like this project has a leg up on that by thoroughly explaining what their purpose is.  Great job, and I'll be following closely 

Hi Giselleny,

We would love to, while keeping our business goals real :-) it makes no sense to overpromise and under deliver.

And to tell you a small secret: we are way ahead of our roadmap :-) but we don't want to communicate that broadly yet... :-) it gives us a bit more time to test thoroughly and make the best technology available. I'm sure that we can start distribution of our Tokens well before the communicated deadlines!

Hi Pendul,  thank you! We've spend a lot of time to make the economics as clear as possible, as this is what actually drives the value of Retailcoins after the ICO. Through the economics scheme we create demand on several levels within the loyalty program, besides the fact that Retailcoins have an actual usage. From all the excitement we see here now in Europe, we see that we have a working model, that holds tangible value and creates a steady flow of demand for Retailcoins!

Hi Dev!
Agree with previous users, Economics scheme is totally visible and clear, and this is what will give you a BIG boost with a project!

This idea sounds awesome. Bring this to the states and it will EXPLODE!!! I will be watching the progress of RetailCoins very closely.

Hi supermario64,

Thank you for your question, let me try to clarify! Yes, you can take a reward from Walgreens and apply them at Stop&shop (if those two companies would join our program of course). Walgreens can decide if they want to collaborate with Stop&Shop. When they decide to do so, they can also decide how much of the Walgreens loyalty will apply to Stop&Shop (for example: 75% of the value of the Walgreens loyalty will be applicable to Stop&Shop, but this can also be 50%/50%). The retailer has the choice with whom they want to collaborate, and with whom they don't want to.

Scenario: a user shops often at Walgreens and saves up RC. Then the consumer goes to Stop&shop and redeems the product. 75% RC will go to Stop&Shop, 25% of RC will go to Walgreens. If this user would redeem his product at Walgreens, he would be rewarded 100%.

In the retailer app, we will show in real-time how many RC the consumer needs in order to redeem te product. This will change in real-time, based on the value on the crypto-exchange, and based on the RC they have in their wallet, saved up by the different retailers with the different.

We are also investigating to integrate BLOCKv technology in our mobile technology. This would provide the option for a consumer to trade the reward after he has redeemed it with RC. This would help the consumers to get the rewards that they want, even if the retailer doesn't specifically wants to collaborate with another company.

Does this clarify it a bit more?

Thanks,

Hugo