UNIVERSAL REWARD PROTOCOL (URP)
Blockchain technology is a transparent digital transaction book and records that are immune to modification or deletion. Offering additional features of increased security, cost reduction, time efficiency and error tolerance, the chain-chain grew, fluctuated in 2017. The utility of blockchain technology is unlimited, triggering an increase in the list of companies, industries and government studying its potential adoption. A blockchain is an immutable public book that records digital transactions.
ABOUT UNIVERSAL REWARD PROTOCOL (URP)
Universal Reward Protocol provides a unique ecosystem for all retailers to reward their customers for any type of shopping behavior, and for sharing the corresponding Proof-of-Behavior data with the retailer. Retailers offer URP tokens as an incentive for shoppers to interact with them along a desired behavior, and use the collected data to tailor personalized offers through which the shoppers redeem their tokens.
The Universal Reward Protocol team identified four main limitation points in the shopping experience based on their experience in the retail industry, both from the retailer and the shopper perspective:
• In an increasingly competitive market, especially since the emergence of pure players, the market share of physical retail is decreasing and a new shopper experience must be created
• Retailers are lagging behind pure players on data collection and usage, even though they have a more frequent and privileged access to customers
• Customers want a more tailored experience, online and offline, while keeping their personal data private and valuable
• Loyalty programs to improve customer experience have not given full satisfaction, neither to retailers nor shoppers
Despite this ongoing decline, physical sales still represent 90% of retail sales1 worldwide. Digital has become part of a household daily routine and most sales now start online (56%). It is part of the human behavior to experience pleasure when getting rewarded, as is outlined in various behavioural research.
The asset that product stores represent can be better leveraged if retailers are able to establish direct customized digital communications with shoppers and enter into a personal relationship with each of them. Shopper experience can be revolutionized and made less of a chore and more of leisure. That’s why Universal Reward Protocol has the potential to disrupt the old-fashioned reward industry.
TECHNOLOGY
Distributed Data Storage on a hybrid blockchain architecture.
Shoppers give consent to each data capture to guarantee data transparency. Sensitive receipt data is isolated between retailers, while navigation data is publicly available to all nodes.
Neural Net
All data is fed to our deep-learning layer for further prof iling and analysis, allowing the deployment of custom redemption offers tailored to individual needs.
IoT Sensor
IoT sensors powered by Occi using geolocation technology, already covering more than 100,000 square meters of top retailers space, publish the data securely on the blockchain. They are deployed inside a mesh network to make setup simpler and the data capture more robust.
Universal Reward Protocol (URP) is a new way for retailers and brands to interact directly and transparently with their shoppers, and automatically reward their behavior and data sharing in a personalized, efficient way. The solutions include:
Reward Smart Contract
Each reward operation will be handled by a Reward Smart Contract. Retailers can create new reward campaigns by filling the Reward Smart Contract form. IoT sensors can act as an oracle to certify the transaction.
Universal Digital Wallet
A digital wallet that allows shoppers to query the loyalty network for rewards and redemption contracts at any time, check the balance of their wallet in URP tokens and edit their privacy settings.
Retailers redeem tokens through personalized offers
URP tokens can be exchanged for goods and services, coupons, and improved shopper experience with all retailers in the network. These redemption offers are tailored to match each shopper’s needs and desires using the data they chose to share with the network.
TOKEN AND ICO DETAILS
Token: URP
Platform: Ethereum
Standard: ERC20
Quantity: 600,000,000 URP
Price: 1 URP = 0,1 EUR
Payment: ETH
Soft cap: 5,000,000 EUR
Hard cap: 20,000,000 EUR
PreICO
Quantity: 15,000,000 EUR
Beginning: 08.08.2018
Completion: 08.09.2018
Bonus:
5,000,000 EUR – 25%
10.000.000 EUR-15%
ICO
Quantity: Up to Hard cap
Beginning: 08.09.2018
Completion: 30.09.2018
Bonus: No
TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT
Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field.
ADVANTAGES OF URP PLATFORM
URP enables the rewarding of any type of shopping behavior.
A retailer’s loyalty program only rewards a shopper when he purchases a product in his store. Other types of shopping behaviors such as simply visiting a store or interacting with brands on social media are not being rewarded. The goal of URP is to allow retailers to reward any worthy shopping behavior .
What does URP define as a “shopping behavior”? Examples can include visiting a store for the first time, purchasing a product, visiting a website or sharing content published on social media, and much more. In short, all online and offline interactions a shopper can have with a brand or a retailer are rewardable through URP.
URP allows you to create new relationships and interact with new potential customers.
The retailer can interact with all shoppers who are using URP , whereas a loyalty program only allows a retailer to communicate with shoppers who already accepted to enter in a relationship with them. It doesn’t allow the retailer to interact with simple prospects.
URP is a universal platform where URP tokens can be redeemed with all the retailers of the network.
Retailers offer URP tokens as an incentive for shoppers to interact with them along a desired behavior and use the collected data to tailor personalized offers through which the shoppers redeem their tokens.
A loyalty program is different because it usually issues “captive” points, which can only be redeemed with the retailer who distributed them. This leads to shoppers having multiple incompatible loyalty program, which makes it harder and harder for them to manage the points and creates less value for the shoppers.
URP guarantees data transparency and security.
The data collected through loyalty programs (usually at least the purchase history of the shopper, but often much more information are saved and used without any consent) is not always transparent to the shopper. It is not always clear exactly which type of data is collected, to what end, and who has access to it.
Both transparency and security of personal information are guaranteed by the Distributed Ledger Technology (DLT), inherent to public Blockchain technology. With the logging of each opt-in directly on the blockchain, shoppers can check their consents to different contracts, change their privacy preferences and decide to opt-out at any time. They can also see which Proof-of-behavior data was collected about them, at what time and for which retailer.
Be a part of this tremendous project and follow these links for more information;
Website: https://rewardprotocol.com/
Twitter: https://twitter.com/RewardProtocol
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nugezmils
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