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Author Topic: Brand Tokens Project Review, Invest in thousands of brands  (Read 53 times)
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June 23, 2020, 04:35:04 PM

Brand Tokens Project Review, Invest in thousands of brands

Almost every business uses customer loyalty programs to attract new customers and retain previous customers.

Loyalty programs and customer persuasion are important criteria for measuring the success of today's companies. Probably all of us have participated in these loyalty programs once and for all and have used coupons, plastic knives and digital papers.
All of these are things that are considered valuable within a company's network and are available to customers as a reward.
But one of the big problems with these loyalty programs, which are aimed at encouraging customers in many companies, is the lack of a coordinated system that reduces the liquidity of rewards.
At present, rewards can only be used in certain places, situations and times.
Although some of the rewards that customers receive in corporate loyalty programs can be tracked or reused online, they are not yet recognized as digital assets.
These problems have necessitated the presence of banks and other intermediary financial institutions in the cycle of using the rewards of loyalty programs, which in turn leads to increased costs and security risks.

Challenges of loyalty programs

Lack of customer incentives
Often, reward programs benefit only organizers, while customers have to purchase things they don’t need to get points; for that reason, 33% of millennials dislike reward programs, tells Hackernoon.

Low redemption rates
With a multitude of loyalty programs, 30% of Americans don’t redeem earned points in some of them up until they expire, so brands fail to get repeat business from that clientele.

Security breaches
Harris Poll reports that 71% of U.S. consumers are less likely to join loyalty programs that collect their personal data, worrying about their corruption and theft possibilities.

High maintenance costs
Loyalty programs cost a pretty penny for companies; costs might include third-party or proprietary software integration and maintenance expenses of $2K-$15K a month on average (as found by Stamp Me).

Personalization concerns
The demand for exclusive offers grows, but brands often fail to meet it for lack of proper tracking tools; as a result, their “one-size-fits-all” offers don’t bring them anticipated profits.

Dispersed infrastructure
Customers who participate in several loyalty programs at once might not reach the threshold in any of these to spend points, so they can’t use the services they spend a lot on in total.

Blockchain technology is the solution
Blockchain technology is a decentralized database tracking a transaction as it moves from its source to the destination (third parties add a data ‘block’ of information to the chain with each step of the journey). Blockchain technology, which is still evolving, is used in a wide variety of applications. A recent study by a team of researchers from York University’s Schulich School of Business in Toronto illustrates the potential for blockchain technology to enhance rewards programs for both consumers and companies.
The first advantage of using blockchain technology to implement customer loyalty programs and campaigns is the elimination of intermediaries and the ease of direct communication between customers and corporate marketing managers.
Sometimes implementing a high-quality customer loyalty program imposes a high cost on companies, while the ultimate goal of these programs is profitability for the company.
In this area, blockchain technology can provide a better experience of loyalty programs for both customers and corporate executives by reducing costs and increasing efficiency.
However, using blockchain technology can have many benefits for managers who are looking to successfully implement loyalty programs, and converting loyalty points into tokens can be another benefit. Below some of these benefits are introduced:

Why Blockchain? Reasons and Benefits
One major reason is that a blockchain ecosystem is not limited to one company. It involves a number of different companies collaborating around the transaction. As a result, blockchain-based loyalty programs allow the customer to accumulate into a single ‘wallet’ generic loyalty rewards — in the form of universal loyalty cryptocurrencies — from all of the parties in the chain. The accumulated cryptocurrencies rewards can then be redeemed from any and all of the partner companies.
In a business-to-business context, companies can offer their clients value-added services. A bank, for example, can offer its small business clients access to interlinked rewards, which, by passing on this access to their customers, improves their brand recognition.
Another advantage for companies can be reduced management costs; a blockchain-based partnership between two companies, for example, can be set up to enable exchanges by the customer with no centralized management.
It should be noted that blockchain technology is still improving. There are currently, for example, high start-up costs for implementing blockchain rewards programs. There is also the challenge of companies losing control over their data — as opposed to traditional loyalty programs in which the data is closely guarded. However, new platforms are already being developed to resolve these issues.

Brand Tokens
"A real example of the implementation of blockchain technology in loyalty programs"

The Brand Tokens platform uses blockchain technology and has developed a mechanism for providing loyalty and incentive programs. Brand Tokens, on the other hand, has designed a system through which companies, manufacturers, and vendors can directly appreciate their customers by offering rewards and discounts. Tokens are easily exchangeable, liquid, and priced in real-time mitigating overhanging liability from incumbent loyalty solutions. Brands get a low cost, instant gratification system to keep current customers happy and attract AI profiled new ones effectively. BRND Token, the main token of the Brand Tokens ecosystem, is a Token as a Service. Businesses can create their own unique token on the Brand Tokens network. With their own unique token, businesses can reward their customers easily without changing their brand image. Through registering to the Brand Tokens network and acquiring BRND Token, which is the key token running the network, businesses can create their own unique token. Each business can use their unique xB to reward their customers in a more efficient way. When a business has created their own token, it is expected that the business encourages their customers to be a part of the network. With the unique token, each customer is easily rewarded for any business activity or task done. The customers are rewarded in token, which has a monetary value, and is stored in the customer’s wallet on the platform. With the token, the customers can purchase items or services from the particular business as well as convert to BRND, BTC, ETH and FIAT. This way, a business can confidently build a stronger relationship with their customers, and customers can easily be rewarded in a much more efficient manner. Brand Tokens project is an innovative effort to use blockchain technology capabilities to set up and implement loyalty programs.

Brand Tokens Features;

1-Decentralized Loyalty Program with Blockchain
decentralized, trustless ledger would actually centralize the customer’s loyalty programs. This Blockchain Loyalty Program would give Loyalty providers the ability to decide how and with whom the customer uses these rewards. The customer will have the ability to access and manage the ledger with no friction.

2-Cost cutting efficiencies with Blockchain Loyalty program
Loyalty programs are expensive and tedious, demanding a significant investment of time and money on both technical implementation and cost of rewards. Blockchain incurs upfront expenses on three major levels–system management, transactional, and customer acquisition. A blockchain-based loyalty program would reduce costs associated with errors and fraud by using smart contracts which would ensure secure, trackable and transparent transactions.

3-A real-time Blockchain Loyalty Program
One of the inherent features of Blockchain is that it enables the transaction to be recorded and accessed by multiple involved parties in near real-time. This makes the process of coordination between loyalty rewards program provider and consumer more efficient and instantaneous. With Blockchain Loyalty Program, customers won’t have to wait to be awarded points but could potentially receive and redeem them in real time.

4-Increased security leading to enhanced customer loyalty

Transactions on a Blockchain ledger are cryptographically secured. Every transaction ever made on the Blockchain are immutable and time-stamped, thus transactions are easily trackable. No transaction made is irreversible, therefore preventing double spending, fraud, abuse, and any other type of manipulation of the transactions.

5-A sea of new opportunities for businesses
With an interlinked loyalty network, large loyalty rewards program providers will have unique opportunities to offer value-added services to other businesses. ABlockchain Loyalty Program would no longer force customers to spend their loyalty points with a specific brand. Customers can even sell their tokens for fiat and spend the money in the real world!

Brand Tokens Benefits;

Flexible reward points
Offer blockchain-enabled tokens as rewards and let customers choose how and to what extent to redeem these.

Irrevocable assets
Provide irrevocable blockchain tokens as reward points; companies can’t take away those for some internal policy issues, so points can’t expire or get devalued.

Secure systems
Improve the security of your reward platform through blockchain’s cryptography encryption protected against hacker attacks.

Personalized offers
Arrange highly-targeted loyalty programs based on blockchain’s immutable records of customer identity and behavior.

Exchangeable rewards
Allow customers to transfer points between reward programs quickly by providing a single, cryptographically-secure, and easily exchangeable blockchain currency as points.

Self-maintainable programs
Cut program maintenance costs with self-enforcing blockchain technology that maintains loyalty records autonomously, without any supervision from your part.

Brand Tokens Team
With regards to the team project Brand Tokens, then there is a very strong core team:

Brand Tokens Roadmap
In the picture below, the project roadmap gas been described:

Token BRND
● BLOCKCHAIN: Ethereum - ERC20

Token Sales
● SOFT CAP: 250.000 USD
● HARDWARE: 1,000,000 USD

Token Distribution
● 10%: For ICO
● 20%: Round I of ICO
● 40%: Round II of ICO
● 15%: Marketing
● 10%: Tim
● 5%: Reserves & liquidity

Official Resources


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