Topic: ⭐⭐⭐⭐⭐[ANN][PRE-ICO][BitRewards | Blockchain rewards and loyalty platform]⭐⭐⭐⭐⭐ - page 129. (Read 33957 times)

Our key difference is that we already have working loyalty software which has good and clear interface (click "Live Demo" on our website to see it).

We are adding a blockchain capabilities to that existing solution in a seamless way. Most users of BitRewards solutions will not ever mess with installing any desktop software or signing up at exchanges and so on.

Also, bitRewards has strong competitive advantages in comparison with other loyalty systems:
- Free of charge
- Simple installation which doesn't require technical expertise
- Access to a large number of loyal customers of partner retailers in the BitRewards

Following the current trend, the focus in promotion of BitRewards Network will be made on content marketing, which will push the message to merchants that the BitRewards Network offers much more than any competitor can offer, and moreover it’s for free.

What is your plan to increase the adoption rate of this token and attract the merchants to use this platform in future. I invested in some loyalty based projects but none of them got succeed to deliver because there are so many complications to implement this blockchain system so how would to solve this problem?

Hey Kyxap, that was not our agent or any employee, we didn't do such activities.

But we will launch a referral program this week, so that you can put your referral link in your signature and avatar.

Sign up at https://wallet.bitrewards.network to get an email alert when we launch our referral program.

Have a nice day!

In a nutshell, will I be right to say that the tokens are not free since the merchants need to buy them from the exchange and offer them to their clients as incentives.

Good question.

Sure we have a solution.

The answer is simple: the shop buys BIT tokens whenever it needs to rewards a customer, not in advance.

For example, imagine a shop has a loyalty program and rewards customers with 5% cashback in BIT tokens. Whenever someone makes a purchase for $1000, the store uses BitRewards software and buys BIT tokens for $50, dependless on current BIT exchange rate, and gives these BIT tokens to the customer.

The good thing is that the entire process happens automatically, our software will use BitRewards Liquidity Smart-Contract and purchase BIT tokens with ETH, USDT or other popular ERC-20 tokens automatically whenever it's needed.

So the BIT exchange may grow indefinitely, and it will be attractive for merchants at any given moment.

Thank you for your interest! 

A question I've is how the shops and merchants manage the price of the tokens which they buy off the exchange if the token price fluctuates and this leads to the question of why an investor would invest in your ICO if on the one hand, you need to keep the price stable while on the other hand, the investor would like to see the token increases in price, and go as high as possible so they can profit from it by trading it on the exchange.

If the token increases in price, it will not be attractive for the shops and merchants to buy but it will be attractive for the investors as well as the customers.

Do you have a solution for this contradiction?

Thank you for the important question! That's right!

Hello developer, some agent or may be you call me on my cellphone and ask some question about your platform. I answer him about few things, which must help to promote this project. And one of those things was signature and avatar campaign. So, when you will start this?

What's different between BitRewards and another loyalty systems?   

BitRewards has strong competitive advantages in comparison with other loyalty systems:
- Free of charge
- Simple installation which doesn't require technical expertise
- Access to a large number of loyal customers of partner retailers in the BitRewards

Following the current trend, the focus in promotion of BitRewards Network will be made on content marketing, which will push the message to merchants that the BitRewards Network offers much more than any competitor can offer, and moreover it’s for free.

How are we going to sign up the vast number of merchants?

It is planned to use the following marketing channels:

- Social networks
Content production for our blog, doubling down on email, social media and other outbound activities. This will help us source leads. We have a pretty high conversion rate after the live demo presentation of our solutions: after the initial presentation, 30-50% of the clients covert within 1-2 months.

In the USA we’ve found out that there’s a great demand from 2 interesting verticals inside the ecommerce space, which we’ve never explored before:
1. Event organizers who sell tickets for events through Eventbrite, for which the organizers want
to reward points to their clients, who can later redeem these points for new ticket purchases.
2. Start-ups, who need a referral system and are ready to pay cash for new clients.
We are excited about these developments and plan to sign up several hundreds of active merchants in the first year.

- Workshops, webinars and events
Hosting seminars, webinars and participating in conferences, as well as partnering with digital agencies who service online stores, and for whom we have already launched a partner affiliate program.

-Partnerships
Co-operation with website builders and CMSs for online stores (platforms like Shopify, Magento, WordPress, Ecwid, etc.), as a lot of our clients are coming from these sources and they are the easiest to convert. They are interested in the development of the e-commerce ecosystem, and are very keen adopters of the services that help online stores’ efficiency.
Other non-competing SAAS, servicing a similar target audience are also interested in co-operation.

Bitrewards business model

BitRewards Network profits from the growth in value of the BIT token, therefore it provides basic customer software and apps for the retailers free of charge. Although it will be possible for the developers of the Smart Rewards apps within the BitRewards ecosystem to charge the merchants for the customary tools, the BitRewards in its first year of operations will not take commission from transactions, aiming to provide maximum efficiency to the merchants.
This demonstrates that BitRewards is committed to the growth in the value of BIT, which strategically corresponds to the interests of tokens holders. Our strategy is the maximum adoption and utility of the apps that are built on BitRewards platform among retailers, which will increase the demand for tokens, their adoption and price.

After 12 months of operations we will introduce 0.5% commission on the sales transactions with BitRewards tokens.
Also, the special administration entity BitRewards Operator can offer paid services as a result of retailers’ inquiries, as they will be interested in our expertise.

Such services may include:
- Customary apps for specific business goals (e.g. a sophisticated bounty campaign);
- Adjustments of settings and the testing of hypothesis of the rewards and other parameters of the
loyalty system;
- The integration of customary blockchain solutions in the existing corporate loyalty program;

The BitRewards Network does not see such development as a priority and considers it the most efficient to transfer such types of important services to independent contractors, BitRewards enthusiasts, and community members with which we plan to work. This will help the adoption of the BitRewards platform and broader acceptance of BIT.

The value of the network grows in the process of adoption by a large number of participants, who start using BitRewards.
According to the estimates, in case a conservative forecast (reaching a softcap of $3,000,000), the targeted funds will be sufficient to sign up 5000 retailers in 3 years, which will generate a monthly demand for BIT worth $4.9 million.

I'd like to tell you about why retails need loyalty program.

Businesses spend an increasing amount of resources wrestling for customers’ attention, and this is only half the task: they also have to retain their attention. Studies show that acquiring a new customer is anywhere from 5 to 25 times more expensive than retaining an existing one. And customers are also easily switching brands, particularly when the competition is a click away. So retailers must invest in their customers’ loyalty. Lots of data show that loyal customers stay longer, buy more and more often, cost less to process, help in price competition, tell their friends about their experiences, and provide valuable feedback.

Join us!

Hi everyone!

Do anyone see ICOBench ratio of Bitrewards?

You can check it here!

There is 4.6 out 5!

Here's a question from one of the promintent persons in the cryptocurrency, our answer and his response. You might find it interesting:
Q: Would like to see more of your concept system, saw the whitepaper and website, but you have no patent?
A: Hi, thank you for the great question.
We plan to fully opensource our platform and provide the tools' code to the developers so that they can use the existing or create new features or new tools on the top of the platform, offer them to the online stores on their own and earn their commission in BIT tokens.
The IP on the platform and the tools is owned by our mother company, www.giftd.tech, and our lawyers are planning the activities for transfer of IP rights and registration of patents to BitRewards starting from the first quarter of 2018. We also hold some AI-related patents, which will be used in the BitRewards tools.
Looking forward to your further questions and comments.

Why blockchain is bound to stay in the retail?

Read it our Medium

We prepared for our community an interesting info about the future hold for the relationship between the shoppers and merchants’ loyalty programs.

If you want to know more, please read it in our Medium channel.

Here's a question from one of the promintent persons in the cryptocurrency, our answer and his response. You might find it interesting:

Q:
From what I was able to find on your project - a few obvious questions arise. Which network will be handling the vast majority of the transactions and how would you address the scalability issue that would be an obvious problem for any rewards solution on blockchain (wich are plenty right now, none have solved this issue last time I have checked with them).

A:
Thank you for the question. We also consider the network scaling as one of the major roadbocks to quite a few projects that have emerged recently.

Short answer:

We will move the vast majority of transactions off from the Ethereum blockchain. In the beginning, we'll process them in a centralized manner; later we will switch to Raiden / Lightning networks or other blockchains.

Long answer:

Using Raiden network will allow authorizing the settlements of the transactions on the Ethereum platform almost instantly. We will adapt our software to make use of the Raiden network as soon as it's released. Now it's 80% ready, according to their official GitHub — https://github.com/raiden-network/raiden/milestones.

While the Raiden network is still under development, we have the following plan:
1. In the beginning, we will make a half-centralized software, when the shoppers will get their BIT rewards in a centralized manner (our web wallet). The balance in that wallet will not depend on Ethereum blockchain; it will be controlled by our proprietory software and database. However, when someone wants to withdraw their total reward to the external crypto wallet — their balance will be recorded to Ethereum blockchain, and they will receive actual ERC20 tokens. We know from experience that only a small minority of people will withdraw tokens often because most people use the default solution and don't care so much.

2. If the Raiden network is still under development in August 2018, we will consider using µRaiden (https://github.com/raiden-network/microraiden) to make the system more decentralized, as µRaiden will help to reduce fees of transfers between shops and shoppers.

3. If there will be no good news about Raiden network in November 2018, we will consider moving the tokens and the entire system to another blockchain. We are closely looking at Ripple or NEM, which are both attractive from different perspectives suits. If we decide to move this way, we will implement an atomic cross-chain exchanger to move all the tokens to the new blockchain. It is a complex, but a realistic process.

The liquidity of the tokens will be provided from day one by our liquidity smart contract, created on the Bancor Protocol technology. We plan to start the exchange listings with Ether-delta, and have initial plans also for Binance, Hit-BTC and quite a few other bigger players, who we can not announce now.

Mister k, there are three main ways of being rewarded:



Way #1. Stay in the t.me/bitrewards group and get 3 BIT every day 👍



Way #2. Promote BitRewards among crypto-community and get up to 5000 BIT ☝️ Contact t.me/DmitryBIT for details.



Way #3. Talk in t.me/bitrewards and our Bitcointalk thread. Any good question and meaningful message would be rewarded with up to 200 BIT 🗣️

What do you mean?