[ANN][INCNT] Incent Loyalty | Waves Token | Traded on Bittrex

[lpaz09]

Insync was never part of the original idea but is a brilliant way to track spending frictionlessly. It also removes the need for website integrations (like WooCommerce etc) because it takes place one step further back, at the level of bank transfers not the e-commerce platform.

If I've understood Insync correctly, it requires a customer to integrate a bank account in order to access loyalty rewards. That is, in my opinion, a huge amount of friction.

You are asking people to give you details of their every transaction. Under the terms and conditions of your program, do you then own the details of their spending? Is it part of your business plan to sell that data? If not, why are you collecting it, and if so, are you being transparent about this?

Further, am I correct that you are funding all loyalty payments to users yourself at this time? How do you plan to make any money from this activity?

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[Cassius]

Insync was never part of the original idea but is a brilliant way to track spending frictionlessly. It also removes the need for website integrations (like WooCommerce etc) because it takes place one step further back, at the level of bank transfers not the e-commerce platform.

If I've understood Insync correctly, it requires a customer to integrate a bank account in order to access loyalty rewards. That is, in my opinion, a huge amount of friction.

It's a one-off event that takes a few minutes at most. The process - and the protections around it - are similar to those for accounting software like QuickBooks, investment apps, online banking apps, etc. https://www.incent.com/why-you-can-be-confident-sharing-your-banking-information-with-incent/
After that, it completely eliminates friction. Retailers don't have to swipe a card at the checkout, customers don't even need to know that store offers rewards. It is dramatically better than the current system, which requires consumers carry multiple cards.

You are asking people to give you details of their every transaction. Under the terms and conditions of your program, do you then own the details of their spending? Is it part of your business plan to sell that data? If not, why are you collecting it, and if so, are you being transparent about this?

Further, am I correct that you are funding all loyalty payments to users yourself at this time? How do you plan to make any money from this activity?

It's a two-strand piece. Half the rewards come from customer subscriptions. Half will come from retailers who are willing to pay for repeat custom and the insights it gives them. And yes, customers can choose what accounts are linked and what data is collected. This is the age of GDPR, after all.

[lpaz09]

It is dramatically better than the current system, which requires consumers carry multiple cards.

You are misunderstanding the friction point, which in my view is concerning. It is a huge challenge to persuade consumers that they should send you details of every transaction they make. That information is both highly personal, and highly valuable, and you appear to view it as something a large number of people will do gladly for the sake of receiving Incent. I don't believe they will, and I don't believe they should.

You didn't answer my question in regard to your plans to onsell this data, and I think you should.

Half the rewards come from customer subscriptions. Half will come from retailers who are willing to pay for repeat custom and the insights it gives them.

What are 'customer subscriptions' ? - Does Incent plan to charge customers for this loyalty service? 'the insights it give them' sounds like you are planing to give / sell merchants the data I referred to above - can you confirm.

Finally, could you confirm your role, and the current size of the team - how many people work full time on delivering this platform?

[Cassius]

It is dramatically better than the current system, which requires consumers carry multiple cards.

You are misunderstanding the friction point, which in my view is concerning. It is a huge challenge to persuade consumers that they should send you details of every transaction they make. That information is both highly personal, and highly valuable, and you appear to view it as something a large number of people will do gladly for the sake of receiving Incent. I don't believe they will, and I don't believe they should.

You didn't answer my question in regard to your plans to onsell this data, and I think you should.

Half the rewards come from customer subscriptions. Half will come from retailers who are willing to pay for repeat custom and the insights it gives them.

What are 'customer subscriptions' ? - Does Incent plan to charge customers for this loyalty service? 'the insights it give them' sounds like you are planing to give / sell merchants the data I referred to above - can you confirm.

Finally, could you confirm your role, and the current size of the team - how many people work full time on delivering this platform?

A lot of this information is available on our blog. Have you read it?
It's probably best to let someone from the Sydney team answer some of your other questions. That's easier on Slack.

[lpaz09]

A lot of this information is available on our blog. Have you read it?
It's probably best to let someone from the Sydney team answer some of your other questions. That's easier on Slack.

I read everything I could find about Incent, and have researched it in as much detail as possible within a limited time resource. I am present in Slack and Telegram, where almost no conversation occurs, but will copy further queries across channels.

https://blog.incentloyalty.com/ (or https://www.incent.com/news/ ?? ) doesn't offer details of any 'customer subscription' scheme that I can see - this is, again, an interesting idea, but nothing I am learning at the moment gives me any faith in execution.

I had assumed that you were a full time member of the team, but you imply that you're not - it's part of a picture for me of nothing quite adding up tbh

[Cassius]

A lot of this information is available on our blog. Have you read it?
It's probably best to let someone from the Sydney team answer some of your other questions. That's easier on Slack.

I read everything I could find about Incent, and have researched it in as much detail as possible within a limited time resource. I am present in Slack and Telegram, where almost no conversation occurs, but will copy further queries across channels.

https://blog.incentloyalty.com/ (or https://www.incent.com/news/ ?? ) doesn't offer details of any 'customer subscription' scheme that I can see - this is, again, an interesting idea, but nothing I am learning at the moment gives me any faith in execution.

I had assumed that you were a full time member of the team, but you imply that you're not - it's part of a picture for me of nothing quite adding up tbh

Sydney team members (including tech) are on Slack, so it's easier to answer questions there - please do copy them over and maybe @Jins?
I'm not a full-time team member. I've been involved since well before the start of Incent - in fact, I started my crypto career with Bitscan over 5 years ago now - and have been involved in various capacities over that time. I'm also an equity holder in the company. Sometimes things don't fit into neat boxes. Being on the other side of the world to Sydney will have that effect too.

[snowcrawl]

I believe that the following link will allow you to join Slack:


https://incentinvites.herokuapp.com/


Telegram is here:


https://t.me/IncentLoyalty

[Cassius]

New article/PR: https://www.publish0x.com/incent-loyalty/incent-offers-new-possibilities-wealth-generation-xvwqwj

[lpaz09]

(copied to telegram)

The latest news confuses me further. Is Incent now a user-pays crypto saving scheme? Could you explain in simple terms what would happen if I join Incent, and spend $50 at woolies? Do I end up with Incent, and if so, who paid for it?

[Cassius]

(copied to telegram)

The latest news confuses me further. Is Incent now a user-pays crypto saving scheme? Could you explain in simple terms what would happen if I join Incent, and spend $50 at woolies? Do I end up with Incent, and if so, who paid for it?

I think the best thing would be if we put together an example explaining exactly how it works. Will get back to you on this.

[igorttomic]

Incent offers new possibilities for wealth generation: https://www.publish0x.com/incent-loyalty/incent-offers-new-possibilities-wealth-generation-xvwqwj

[igorttomic]

The warning of the Bin Chicken: https://www.publish0x.com/incent-loyalty/warning-bin-chicken-xnqmnd

[lpaz09]

I think the best thing would be if we put together an example explaining exactly how it works. Will get back to you on this.

Yes, I agree. tbh I think your offering should be clear before you announce a launch.

The two new articles indicate an approach nothing to do with loyalty, as far as I can see. Incent is now more aligned with projects such as https://getamber.io/ - but using a custom premined token.

Is https://www.wavesworld.io/#team a more loyalty focused product now?

In the management of loyalty products for (larger scale) merchants which is the better product, and why?

[Cassius]

I think the best thing would be if we put together an example explaining exactly how it works. Will get back to you on this.

Yes, I agree. tbh I think your offering should be clear before you announce a launch.

The two new articles indicate an approach nothing to do with loyalty, as far as I can see. Incent is now more aligned with projects such as https://getamber.io/ - but using a custom premined token.

Is https://www.wavesworld.io/#team a more loyalty focused product now?

In the management of loyalty products for (larger scale) merchants which is the better product, and why?

I've answered the first part of your question on Telegram. Amber and Incent look similar in the way they automate the purchase of crypto in the course of everyday spending, but aside from buying different crypto (BTC/INCNT), what funds the purchases is very different. In the case of Amber, customer purchases are rounded up and the change used to buy BTC. For Incent, the money comes partly from regular subscriptions and partly from retailer deals.

Waves World is an ecosystem that includes a mining pool, Telegram community and tipbot, marketplace where you can buy things for crypto, and a few other things. WW is focused on the crypto world, while Incent is designed for mainstream adoption. They both use the Waves blockchain but the infrastructure used to deliver rewards is completely different.

[igorttomic]

Incent: capturing the trends in mobile retail and beyond: https://www.publish0x.com/incent-loyalty/incent-capturing-trends-mobile-retail-and-beyond-xxwqpx

[lpaz09]

..the money comes partly from regular subscriptions and partly from retailer deals.

Can you explain this step by step please? By 'regular subscriptions' do you mean that you are charging your users a fee to join the platform? How much will this cost? Do you have any retailer deals in place?

[lpaz09]

Can anyone explain what exactly is launching in fact? What does it do? Why would I want it? Who pays, and how does this help a merchant? - and how does Incent get paid?

These are the absolute basics. Communication from Incent is poor, imho.

[igorttomic]

More about Incent’s Insync tech: https://www.publish0x.com/incent-loyalty/more-about-incents-insync-tech-xxwkrg

[igorttomic]

INCNT token supply, mechanics and distribution: https://www.publish0x.com/incent-loyalty/incnt-token-supply-mechanics-and-distribution-xyklwo

What an Incent trial looks like: https://www.publish0x.com/incent-loyalty/what-incent-trial-looks-xdgyyz

[lpaz09]

There is talk in Telegram of a delay to launch. I could not work out if any reason was given.

Has the platform launched, and have the subscription prices for users to receive any benefit been published?

I would also like to confirm that any user wishing to actually receive any Incent into their sole possession will have to pay a subscription.