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magisterr
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September 29, 2017, 01:03:59 PM |
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Not the same Simon Cheong I'm afraid! Our Founder/CEO Simon Cheong is from Australia and was formerly a lawyer with the World Bank Thanks for the answer from which country all your team? And where registered your company? And for which market do you expect? Japan? Our Pleasure, the majority of our team is based in Hong Kong as our company is registered here, however we have team members in other countries. Our anchor client is in Japan but we will be marketing to merchants globally and hope to be part of the adoption of crypto in everyday life across the world. Well Japan is probably a good decision as a starting point, as they are open for development and already into crypto adaption. However, no one of your team is from Japan, right? No Japanese team members yet, but it will be a priority when we start staffing up, to help with COTOCO onboarding etc. But you have some japanese parthnership right now? You planning to going to japanese market? (exchanges etc) |
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bravetheheat
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September 29, 2017, 01:07:49 PM |
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I watch the online video, that sounds a promising project.
Under my understanding, the GATCoin can be exchanged to get a voucher, there are a certain amount of mainstream retailers support this coin.
If there is real number of retailers can support this coin and distribute voucher via this coin, i think it will boom soon.
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GAT_Chris
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September 29, 2017, 01:13:19 PM |
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Saw the introductory video, understood the basic idea, just one doubt. Why will any big company partner with GAT.? You see the rewards program is to keep your customers shop or buy things more and more within your brand, by using GAT they loose that.  A point well taken if merchant tokens could be converted directly into products from other merchants but they can not. For example Merchant A issues vouchers to Customer X, Customer X sells these tokens to Customer Y and uses the proceeds to by vouchers for Merchant B and buys something from Merchant B's store and Customer Y uses the original vouchers in Merchant A's store. Who looses out in this situation? No one, The voucher Merchant A originally issued are still being spent in their store, Customers X and Y are getting exactly the products they wanted and merchants A and B are making sales that they might not have in a traditional rewards system! Merchant tokens can only be sold to other parties that want them, so while the consumer may be converting them in to rewards from other companies they can only do so if someone else wants the tokens in the first place. So it will be like a market for all the vouchers and reward points. where anyone can sell their's and buy different ones.? That will be a cool thing to have. Yes exactly! And GAT Coin is the currency of that market! Not the same Simon Cheong I'm afraid! Our Founder/CEO Simon Cheong is from Australia and was formerly a lawyer with the World Bank Thanks for the answer from which country all your team? And where registered your company? And for which market do you expect? Japan? Our Pleasure, the majority of our team is based in Hong Kong as our company is registered here, however we have team members in other countries. Our anchor client is in Japan but we will be marketing to merchants globally and hope to be part of the adoption of crypto in everyday life across the world. Well Japan is probably a good decision as a starting point, as they are open for development and already into crypto adaption. However, no one of your team is from Japan, right? No Japanese team members yet, but it will be a priority when we start staffing up, to help with COTOCO onboarding etc. But you have some japanese parthnership right now? You planning to going to japanese market? (exchanges etc) Yes we have SK Planet Japan, we are in discussions with multiple exchanges at the moment, expect an announcement from us regarding that in the coming weeks. |
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batako
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September 29, 2017, 01:22:52 PM |
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The only thing about I'm not sure about this project is the name itself.
What is gatcoin stands for? Is it some value for Asian people, or is it just a random decision?
“GAT” stands for the “Global Awards Token” Ok, it stands for something but still, it doesn't represent the value of the project. Still, it's my opinion and it's not preventing me or anyone to invest. Just the thing is I would prefer something better. Global Awards Token looks fit with the main idea behind GATCoin. Btw, name won't give a big impact to a project. As long as a project run as expected, that will be enough. |
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Jay2408
Full Member
 Offline
Activity: 518
Merit: 101
🚀🚀 ATHERO.IO 🚀🚀
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September 29, 2017, 01:26:55 PM |
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Saw the introductory video, understood the basic idea, just one doubt. Why will any big company partner with GAT.? You see the rewards program is to keep your customers shop or buy things more and more within your brand, by using GAT they loose that. A point well taken if merchant tokens could be converted directly into products from other merchants but they can not. For example Merchant A issues vouchers to Customer X, Customer X sells these tokens to Customer Y and uses the proceeds to by vouchers for Merchant B and buys something from Merchant B's store and Customer Y uses the original vouchers in Merchant A's store. Who looses out in this situation? No one, The voucher Merchant A originally issued are still being spent in their store, Customers X and Y are getting exactly the products they wanted and merchants A and B are making sales that they might not have in a traditional rewards system! Merchant tokens can only be sold to other parties that want them, so while the consumer may be converting them in to rewards from other companies they can only do so if someone else wants the tokens in the first place. So it will be like a market for all the vouchers and reward points. where anyone can sell their's and buy different ones.? That will be a cool thing to have. I also think it's a quite cool idea. I mean likely everyone of us gets vouchers, coupons etc. which expire because you can't or don't want to use them. With Gatcoin you can either trade them for other vouchers, points, etc. you really want for buying goods/services or just simply for Gatcoins. |
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Sozialtourist
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September 29, 2017, 02:02:05 PM |
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Saw the introductory video, understood the basic idea, just one doubt. Why will any big company partner with GAT.? You see the rewards program is to keep your customers shop or buy things more and more within your brand, by using GAT they loose that. A point well taken if merchant tokens could be converted directly into products from other merchants but they can not. For example Merchant A issues vouchers to Customer X, Customer X sells these tokens to Customer Y and uses the proceeds to by vouchers for Merchant B and buys something from Merchant B's store and Customer Y uses the original vouchers in Merchant A's store. Who looses out in this situation? No one, The voucher Merchant A originally issued are still being spent in their store, Customers X and Y are getting exactly the products they wanted and merchants A and B are making sales that they might not have in a traditional rewards system! Merchant tokens can only be sold to other parties that want them, so while the consumer may be converting them in to rewards from other companies they can only do so if someone else wants the tokens in the first place. So it will be like a market for all the vouchers and reward points. where anyone can sell their's and buy different ones.? That will be a cool thing to have. Yes exactly! And GAT Coin is the currency of that market! Already asked this but I think there was no answer so far. Will you need the GATCoins as transaction fees for sending these merchant tokens on the SLL GAT network or better, are there transaction fees at all? |
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robocop3
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September 29, 2017, 02:09:31 PM |
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very well,vouchers, rewards can be traded by Gatcoins.
when open the platform ?
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GAT_Chris
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September 29, 2017, 02:19:52 PM |
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Saw the introductory video, understood the basic idea, just one doubt. Why will any big company partner with GAT.? You see the rewards program is to keep your customers shop or buy things more and more within your brand, by using GAT they loose that. A point well taken if merchant tokens could be converted directly into products from other merchants but they can not. For example Merchant A issues vouchers to Customer X, Customer X sells these tokens to Customer Y and uses the proceeds to by vouchers for Merchant B and buys something from Merchant B's store and Customer Y uses the original vouchers in Merchant A's store. Who looses out in this situation? No one, The voucher Merchant A originally issued are still being spent in their store, Customers X and Y are getting exactly the products they wanted and merchants A and B are making sales that they might not have in a traditional rewards system! Merchant tokens can only be sold to other parties that want them, so while the consumer may be converting them in to rewards from other companies they can only do so if someone else wants the tokens in the first place. So it will be like a market for all the vouchers and reward points. where anyone can sell their's and buy different ones.? That will be a cool thing to have. Yes exactly! And GAT Coin is the currency of that market! Already asked this but I think there was no answer so far. Will you need the GATCoins as transaction fees for sending these merchant tokens on the SLL GAT network or better, are there transaction fees at all? You will not need GAT Coins in order to use merchant tokens, only to buy them, yes there will be transaction fees unfortunately we can't provide the service for free  very well,vouchers, rewards can be traded by Gatcoins.
when open the platform ?
Token sale begins October 28 2017, the Public launch of the GAT Exchange is scheduled for Jun 2018 as is the beta for the GAT Wallet and GAT Marketplace with full launch scheduled for October 2018. |
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lvsca
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September 29, 2017, 02:30:39 PM |
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very well,vouchers, rewards can be traded by Gatcoins.
when open the platform ?
Token sale begins October 28 2017, the Public launch of the GAT Exchange is scheduled for Jun 2018 as is the beta for the GAT Wallet and GAT Marketplace with full launch scheduled for October 2018. so, there will be beta release? or only test phase before public laucnch? |
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GAT_Chris
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September 29, 2017, 02:40:24 PM |
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very well,vouchers, rewards can be traded by Gatcoins.
when open the platform ?
Token sale begins October 28 2017, the Public launch of the GAT Exchange is scheduled for Jun 2018 as is the beta for the GAT Wallet and GAT Marketplace with full launch scheduled for October 2018. so, there will be beta release? or only test phase before public laucnch? The period between Jun 2018 and October full launch will be used testing and debugging, in an open Beta. |
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bitjet
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September 29, 2017, 02:46:37 PM |
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Can I ask a question? If I get Gatcoin ( or reward) from restaurant A. can I use it at restaurant B (use Gatcoin platform too)
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Islapdonkey
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September 29, 2017, 02:51:17 PM |
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No one has yet given me a concise answer on why everyone is elated about an ico for a platform that just releases token. Esp when companies can release their own token. The aforementioned platform is not built from a new code or represent an improvement on an existing code. Its just a middle man token provider.
Everyone here is shilling loyalty points and airdrop on the platform, off the top of my head i say embermine provides the same thing lest the exchange. Embermine has several
airdrops occurring in the next few weeks and it's still struggling to gain a foot hold in the market b/c the service been offered which be obsolete in a short time.
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GAT_Chris
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September 29, 2017, 02:53:06 PM |
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Can I ask a question? If I get Gatcoin ( or reward) from restaurant A. can I use it at restaurant B (use Gatcoin platform too)
Yes of course we like answering questions as it helps us know what the crypto community is thinking! Restaurant A would issue its own branded token. You would need to take this token to the GAT Exchange and sell it there for GAT Coin. You could then use this GAT Coin to buy tokens for Restaurant B (or hold them, or trade them on an external exchange) You can see this process mapped out in our overview https://www.gatcoin.io/wp-content/uploads/2017/09/170928v2-GATCOIN-System-Overview.pdf |
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Islapdonkey
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September 29, 2017, 03:09:46 PM |
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Can I ask a question? If I get Gatcoin ( or reward) from restaurant A. can I use it at restaurant B (use Gatcoin platform too)
Yes of course we like answering questions as it helps us know what the crypto community is thinking! Restaurant A would issue its own branded token. You would need to take this token to the GAT Exchange and sell it there for GAT Coin. You could then use this GAT Coin to buy tokens for Restaurant B (or hold them, or trade them on an external exchange) You can see this process mapped out in our overview https://www.gatcoin.io/wp-content/uploads/2017/09/170928v2-GATCOIN-System-Overview.pdfSo pretty much the same way i can take current tokens/coins to any participating exchange, sell it and take the money to buy a different token/coin? Why don't you just have an ICO for a new exchange? and pursue that angle. The whole we part of a long list of companies that issues tokens but didn't really tweak any codes related to the aforementioned service has already been used up and won't be viable for long. |
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bitcoinbulk
Full Member
Offline
Activity: 280
Merit: 100
Ternion | Hybrid Crypto Exchange with fiat gateway
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September 29, 2017, 03:12:25 PM |
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Can I ask a question? If I get Gatcoin ( or reward) from restaurant A. can I use it at restaurant B (use Gatcoin platform too)
Yes of course we like answering questions as it helps us know what the crypto community is thinking! Restaurant A would issue its own branded token. You would need to take this token to the GAT Exchange and sell it there for GAT Coin. You could then use this GAT Coin to buy tokens for Restaurant B (or hold them, or trade them on an external exchange) You can see this process mapped out in our overview https://www.gatcoin.io/wp-content/uploads/2017/09/170928v2-GATCOIN-System-Overview.pdfThat's pretty awesome. I like that it makes it as simple as possible for the merchants to do everything on their own. One of the issues with cryptocurrencies is the learning curve. It seems that GAT can solve most of that for merchants. |
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Rigorous
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September 29, 2017, 03:30:25 PM |
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The example in the whitepaper demonstrates an ideal scenario where the rewards effectively used to stimulate customers into spending more, so that there is a higher net profit.
My assumption with loyalty programs was that unredeemed rewards were accounted for. That is, the merchant gives rewards that are likely to go unredeemed instead of giving real discounts.
By making the loyalty program interaction more user friendly and efficient, isn't there a risk customers redeeming a bigger percentage of their rewards without fully compensating it with additional spending, thereby driving down net profits?
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GAT_Chris
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September 29, 2017, 03:44:37 PM |
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The example in the whitepaper demonstrates an ideal scenario where the rewards effectively used to stimulate customers into spending more, so that there is a higher net profit.
My assumption with loyalty programs was that unredeemed rewards were accounted for. That is, the merchant gives rewards that are likely to go unredeemed instead of giving real discounts.
By making the loyalty program interaction more user friendly and efficient, isn't there a risk customers redeeming a bigger percentage of their rewards without fully compensating it with additional spending, thereby driving down net profits?
Excellent point, you are correct in traditional loyalty programs a certain percentage goes unredeemed and this is built in to the model. However we believe that when you make things more user friendly and efficient there is a net gain as it encourages spending, increases engagement and aids in customer acquisition, especially with the additional features that allow merchants to target users via demographics, spending habits and location (for example males aged 35-30 that frequent coffee shops within the city of Sydney). An additional feature is that merchants can choose to accept a combination of merchant tokens and FIAT when selling goods, so items bought with merchant tokens are not necessarily given away for free but rather sold at a discounted price. We also believe, and I think most people on this forum would agree, that there is a an inherently interesting quality about crypto, and that many people will enjoy the collecting and trading aspect of the system and that this will in turn drive up engagement for merchants. |
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kellendil
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September 29, 2017, 03:47:24 PM |
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Projects similar to this project have already been done. There are also projects that are in the process of the ico. These projects incent, alloy etc. Does anyone know clearly the difference between these projects?
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Voltaje
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September 29, 2017, 04:16:05 PM |
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Projects similar to this project have already been done. There are also projects that are in the process of the ico. These projects incent, alloy etc. Does anyone know clearly the difference between these projects?
Well, Incent is on the wave platform, so at least for me it's a bad point, I personally wouldn't invest on it, about alloy, well, is similar, but its aim is more general, alloy will include games and apps, as I understood it, alloy is a platform where you could get discounts, so is practically a Groupon in the blockchain, while Gotcoin is a platform with an internal exchange, where every reward or loyalty point is an eth token, where you could only exchange inside the ecosystem, so if you earn points from a shop that grants you access to some discounts, you could exchange it for another different token from another shop to get different ones, perhaps you don't want a discount in fish, but a discount in a keyboard or a t-shirt, so you exchange it, that is better for me  . |
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Buckwheet
Full Member
Offline
Activity: 169
Merit: 100
Green Mining 85% Cheaper
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September 29, 2017, 04:19:25 PM |
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Can I ask a question? If I get Gatcoin ( or reward) from restaurant A. can I use it at restaurant B (use Gatcoin platform too)
Yes of course we like answering questions as it helps us know what the crypto community is thinking! Restaurant A would issue its own branded token. You would need to take this token to the GAT Exchange and sell it there for GAT Coin. You could then use this GAT Coin to buy tokens for Restaurant B (or hold them, or trade them on an external exchange) You can see this process mapped out in our overview https://www.gatcoin.io/wp-content/uploads/2017/09/170928v2-GATCOIN-System-Overview.pdfthis is awesome. When I travel arround the world to another country. I can use gatcoin to buy some discount for cheaper price |
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