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Author Topic: Berith coin, the first ‘membership-based virtual money development’ in Korea  (Read 739 times)
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August 14, 2017, 05:13:27 AM

1. Introduction

1) Background
‘Membership system’ is one of the most successful marketing platforms. This is due to the fact that it contributes to sales growth with the factors such as re-purchase, regular customers and improved service quality, encouraged by various rewards such as mileage, point accumulation, free coupon, promotion and loyalty marketing. According to a recent survey, 56.3% of companies which answered in the survey responded that “the effect of sales promotion is greater in economic depression period” to the question about the effectiveness of membership services from the report on "Membership Service Utilization and Future Prospects" conducted with 200 companies that provide customer compensation services.

‘Membership service’ is a successful marketing platform that the effect is firmly proven. However, the service providers that provide services through systematic management and operation are only a small numbers of large corporations and distribution industries that are operating its own distribution systems, on the other hand, a large number of small business owners and small-and-medium sized companies are not able to provide such services. This is because various obstacles exist in the business environment such as 'high operating cost of membership service', 'lack of operational know-how', ‘lack of information analysis capability’, and ‘difficulties in finding their partners.’

Even though the effect is clearly proven from marketing point of view, due to various difficulties, small and medium-sized business groups and small business owners are not able to provide systematic membership services. Even if they are providing services, they are not able to provide comprehensive membership services but just have their simple service formats with a bunch of coupons and stamps. Through these simple services, the real benefits of using the membership system cannot be fully acquired.

Already, membership services in a global scale have evolved into a customized service marketing platform that utilizes customers’ information beyond the current benefits offered to customers such as accumulating mileage points. In the United Kingdom, ‘TESCO’ has utilized membership services and Big Data to analyze consumers’ life patterns and their nutrition balances, to reduce or encourage the purchase of specific products. Also, ‘Life Fitness’ in the United States linked personal computers to treadmills. It offered the service marketing that the data about users’ favorite TV program and past exercise record was gathered during their exercise time.

Large companies and large-scale membership services are evolving based on the membership platform which enables analyzing information, establishing marketing strategies with the analyzed data, integrating management of customer information, and various recommendation marketing. This paradigm shift requires small and medium-sized business groups and small business owners to adapt to the new environment and here the need exists to integrate totally separated individual membership platforms to one unified comprehensive membership platform.

2) Suggestion

Berith, the membership service in the joint economy environment, our idea can be defined as follow. Since a number of platforms have referred ‘the sharing economy’, we could realize ‘the joint economy’ has already come. ‘The Joint economy’ these platforms already mentioned is a great concept to create and share value among peers. Actually, the reason these businesses were successful was not by division but by integration. These businesses represent the concept of ‘the joint economy’.
Berith is able to integrate block-level membership economies through the membership platform of the new paradigm. Through this, we are able to contribute to the change in the distribution system throughout the society. Berith can be used by any service providers, including small and medium-sized businesses and small business owners. Through the Berith platform, Membership Services can be provided and marketing of various promotions and events can be conducted. Our goal is to create a platform that everyone can share benefits and enjoy services more easily in a global scale, avoiding any membership types in the obsolete form of ‘the closed economy’.
|The joint economy membership platform to distribute benefits by integrating membership economies
‘The Joint economy’ of Berith offers almost every service such as technology and functions through the membership, marketing promotion and events which are necessary for membership building, utilization and operation running through only one platform by integrating membership block units. Through these services, better membership platform is created and ideal membership economic ecosystem is able to be formed.  
The main objective of ‘the Berith platform’ is to connect various and complex membership systems into one platform by using block-chain-based technology which were independently constructed or had regional constraints and to provide and receive more comprehensive and systematic services. As a comprehensive membership platform, Berith issues and distributes available Berith coins through mileage gathering and conversion.

You can use every drop of points in all affiliated enterprises and stores over the world, collected by ‘the Berith marketing platform’ by using the services to convert points into Berith coins and keep them in personalized wallet. In addition, our platform can use points and membership benefits by converting them into Berith coins based on scalability and connectivity through the connection among various independently operating memberships.

2. Business
Berith provides the service platform that main functions required for membership are implemented. The platform consists of basic functions of membership platform such as member management, mileage distribution and various other functions designed for promotions.  

1) Business Components (Business building blocks)
Berith platform consists of ‘Berith Coin’, ‘Berith Membership’, ‘Berith Wallet’, and ‘Berith Pay’. Each component plays a distinct role in the Berith platform, provides services through membership services, and builds a comprehensive membership economy system through the Berith Coin.
|Business building blocks of Berith Platform are composed as follows.
Berith is a term referring to the entire platform and also refers to the coins that are actually issued and available. Berith coins can be used like bit coins at any stores around the world that are associated with cryptocurrency.

Berith Membership refers to the Berith Membership Marketing Platform, which also refers to the qualifications of Berith holders, companies and others. The marketing platform provides a marketing environment for businesses and small business owners who want to provide membership services, such as managing members at unit stores, making use of mileage settlement and distributing expenses for operation. The Berith platform offers a variety of events and promotions, and it also analyzes and provides information that can be used in marketing through service-based information gathering.

Berith marketing platform is not subject to Berith platform, but it can also be used with independent mileages of companies and unit stores. It is also available to buy Berith coins automatically through Berith membership. However, independent users need to pay a certain fee to Berith. The Berith Marketing Platform forms a global economic ecosystem based on independent unit membership.  

Berith Wallet is an electronic wallet for improving the usability of Berith. The wallet has a unique wallet address for each individual. Through this wallet, users are able to keep, trade and check the balance status immediately.

Berith Pay provides easy access to users and is provided in the form of Application. Berith Pay services in the form of mobile application proceeds transactions and transfer functions as an actual network which connects between providers and buyers through mobile phone without the help of transaction devices. Any Berith members are able to download Berith Pay from application markets.

Berith Wallet and Berith Pay are able to provide functions for advertising, promotions and events for service providers. It provides curation advertisements, not an unspecified advertisement which causes users’ fatigue, also appropriate advertisements based on users’ private information, location and purchase pattern(for whom to provide) and guidelines about affiliated mileages use and other various services,

2) Business Model
The idea of Berith is based on enhanced collaboration system with the support of trust protocol using the block chain technology. The outline of this idea is to use the remaining points to “create more useful added value.” Membership platforms around the world would be linked together using the block-chain-based technology. This provides a new paradigm and easy-to-use value which is the foundation of our business platform. They are based on our team members' know-how. By providing advertisements and membership platforms, service providers are able to maximize their revenues, at the same time, users can create new added value by gathering forgotten and missed mileages together.

A platform that evolves in real life
Berith is an organic marketing platform that evolves through the participation of members.
By issuing cryptographic tokens based on mileage and points, it contributes to the overall activity of the member and systematic marketing of the service provider.

a.   Berith is able to provide the ‘Berith private membership platform’ which can be privately operated or ‘the Membership platform’ which can convert points to the coins in connection with the Berith platform for midsize companies and small business owners who couldn’t build up affiliations with current membership services and membership platforms. Consumers are able to convert dispersed mileages and point benefits into Berith(coin) and use them through the Berith platform.
b.    Berith platform is composed of ‘the Wallet’, ‘Administration’ which manages payment applications, ‘block chain based membership platform’, ‘big data load and analysis’ and ‘the Curation solution’ which recommends products and services according to the gathered data.  
c.    Membership Users and Membership Consumers can participate proactively in Berith membership system through applications provided. Users are able to create new value and ideas for the advertisement and register them on ‘the Berith AD Archive’, which is open to a number of consumers. Finally, they can sell these ideas to service providers. For instance, a user can create interesting advertisement images of McDonald's and register them to suggest McDonald to purchase these works. The purchased images are open to the public according to registered conditions as an advertisement in some users’ applications who are matched with the curation conditions. Also proactive participation can be encouraged by allowing users to decide their marketing conditions themselves.
This form of business is able to promote the participation of membership consumers and form a unified membership ecosystem, which provides active membership services that members create themselves.
d.    Berith Coin serves the role as a qualification method of the Berith Membership, therefore who keeps Berith Coins is considered a member of Berith. Users can receive various services and convert various affiliated mileages to Berith coins. The Berith Coin, unlike most common mileages, doesn’t have an expiration date and the value of Berith would vary depending on users’ participation and utilization.
e.    Berith stores the data of consumers who agreed to provide their personal information and provides the analyzed data to service providers. The reward for the data can be paid by Berith Coins. Berith's contracts can be concluded through electronic ways based on Smart Contracts and all of the contracts and transaction histories are recorded through the block chain. It also provides operational guidance and service know-how for SMEs and small business owners.

3) Platform revenue model
Fully operating Platform is able to make various types of revenue model. The platform can make a profit easily, simply by making the environment which providers and customers are able to compete and trade fairly. Our platform would go further and produce more profits by allowing membership members to participate proactively and share benefits.  
Berith's revenue model is not special. Berith has a simple revenue model that is easy to understand for everyone.
a.   Revenue model for advertising event promotion
Berith platform would receive the fees from advertising companies for advertisements and marketing promotions. This revenue would be used for better services and advancement of the platform.
b.   Commission revenue model
Our service would aggregate mileages from all over the world. If transactions happen through this aggregation process, Berith can impose partial commissions to users. Actually, this form is similar to the revenue models of most membership providers over the world.
c.   Profit model for providing marketing information
Berith would analyze information about the users who consent to provide personal information and provide a Curation Service based on the analyzed information. Berith is able to generate revenues in return for providing consumer-related data.
d.   Licensing revenue model
Berith would have revenues as commissions or licensing management fees from the events when users have a profit from their uploaded images and advertisement ideas. This event would also encourage users to join more proactively and provides interesting experiences.
e.   Other revenues
Our platform is an open platform and anyone who is a Berith member can actively participate. On our platform, Berith Members can offer a unique and exciting profit model. Based on these proposals, Berith can generate new revenues and share revenues with members who suggested.
We can reflect on the experiences, interesting factors and ideas for increased quality of life from all over the world and through deep analysis, offer more advanced Berith and improved services.

4) Advantages in business
Berith has a variety of choices and special advantages in business. It is able to accumulate points through various memberships, pay in real life, convert points to the coins and earn added income with the combination of proven membership system, advantages of Pay and merits of real economy. In addition, users are able to receive more benefits according to their grades in Berith.  

a.   Berith can be checked in real time through the Mobile phone application which has Wallet and Pay functions and used immediately in any affiliated stores. Each menu is registered in a digital format and supports order and transaction process through the application.  
b.   Berith provides menu registration and management, transaction module using Berith coins and a mobile application which enables users to check the data gathering result and statistic data.
c.   Berith has a ‘member grade system’. It provides allocated revenues according to the grade system and differentiated benefits to members who have Berith coins. Highly ranked service providers can have free platform use, discounts, monthly marketing services, promotion opportunities. The allocations and grades are decided by the amount of held coins in users’ wallet. (But, the revenue of allocation is continued until 20% of the total coins is consumed.)

3. The issuance of coins

Berith would initially issue 2 billion Berith which is only 20% of the total amount of coins reaching 20 billion Berith. The issued 2 billion Berith would be allocated for ‘Development contribution allocation’ 200 million Berith, for ICO allocation 1.5 billion Berith with the Bonus of 300 million Berith, for promotion allocation 1 billion Berith, for promotion 10% which is 1 billion, for member allocation 20% (2 billion Berith) and for Berith point conversion 5 billion Berith, which is 50% of the total amount of issuance.

4. Berith Master Plan

Berith is an evolving integrated marketing platform. It will continue to grow and evolve through the connection with business partners. When the system is initially launched and distributed, Berith would make the transfer to the Berith Coins possible through the connection with large membership services in Korea and the ‘Point Swap’.
Also, Berith has provided services for Small and medium-sized enterprises and small business owners as a membership marketing platform. It will continue to expand and advance through ‘Pay transaction module’ which the Coins are useable and affiliation with global memberships.

5. Berith platform team

To design the Berith platform, we organized the best team. To create the membership platform that anyone can use easily, supreme membership experts in Korea gathered. The team includes leaders who developed large distribution memberships and finance memberships, design experts, framework technical experts and block chain experts. This project has been launched and prepared since December of 2016.    
The basic design of Berith membership was completed in August of 2017 and it is able to make a connection with the existing enterprises, serve small and medium companies and small business owners with satisfactory services and design the block chain based platform that is able to provide various benefits to users.  
Our team have investigated the actual market to seek and apply new ideas. We have also participated in membership projects in China, investigated various technologies and monitored the changing market environments in business. Through these processes, we have experienced a number of various platform marketing environments for supporting effective marketing.  
Berith platform team would make evolving Berith platform with continuous efforts for interesting marketing and effective membership management.

6. The membership system and our vision

There are many membership systems around the world. Especially, the memberships of Japan and South Korea are very systematic. Among them, there are not only about 200 large and active membership systems but also many other memberships, which are not. Our team has been working on consulting, building, operation and support of large membership companies. During the time we go through all the steps in CJ ONE, GS & POINT, and the project developing the first membership system of Korean Financial Group, we has also been making the ideas about the recognition of customers and the future of membership services.

Especially, we are recently trying various changes with the combination with FinTech over the mileage-focused membership system, development into various marketing platforms and accumulated data utilization.

Our idea emerged from the question “what if we could define the membership in these local or unit blocks as a new framework and chain them as each membership block”.

In particular, during the time when we built up membership systems and had consultation with foreign companies including China, we planned a larger platform to have easy and convenient transfer to the global business and to find the value of missed mileages,

The scale of active membership mileages already reaches 1trillion won (Korean dollar). The potential of further development would be even greater with the combination of ICT, Fin-Tech and the block chain technology.  

We are committed to contributing to the development of ‘joint economy of membership services’. We would create better value through the membership system; increase the amount of new revenue sources of service providers and the level of users’ utilization through the easy transaction service by using coins and Fin-Tech, avoiding the current membership services that were constraint to mileages accumulation and discount.

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August 14, 2017, 01:20:30 PM

The biggest drawback in your concept is, it cannot be decentralized as the membership structure has to be overseen by a central authority. This is against the basic principle of any cryptocurrency.
The coin concept looks like more of membership benefits than of a individual coin.
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August 16, 2017, 04:37:49 AM

The biggest drawback in your concept is, it cannot be decentralized as the membership structure has to be overseen by a central authority. This is against the basic principle of any cryptocurrency.
The coin concept looks like more of membership benefits than of a individual coin.

Thank you for your interest in our project. We would use ‘the smart contract’ in contracts with all affiliated store and save the transaction records in block chain, so the process would not be subject to any enterprises or countries. Through this process, we would give the decentralized service that every enterprise over the world is able to use Berith globally.
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March 28, 2018, 04:05:49 PM

   /          \
  /_.~  ~,_\   - The project has been successfully listed at FOXICO
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April 03, 2018, 08:45:33 AM

like project

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