Blockchain technology, since its invention, has steadily permeated almost every aspect of life. Lots of cryptocurrency platforms have sprung up since then, exploiting the technology to offer amazing use cases that are leaving the world dazed. Last year has especially been a breakthrough year for cryptocurrency platforms with their popularity soaring far above expectations.
One area aspect that is presently been re-engineered with the technology is loyalty rewards. The system of loyalty rewards has for a long time operated with a problem that’s worth solving. One research, for instance, showed that over 70% of the world’s shopping population belongs to at least one loyalty program. The problem, however, is that most shoppers cab hardly use the rewards that they accumulate over time. This is mainly because they hardly reach the threshold of points required for exchange for real rewards.
A lot of traditional loyalty programs are cumbered with the problem of having a lot of points accumulated as liabilities on their balance sheet. This means a lot of money in debts. This makes it a problem for both the brand and consumers.
Of course, it’s quite easy with modern technologies and inventions for customers to come on board different loyalty programs, but there is still always a big gap between the number of loyalty programs they belong to and the number of loyalty programs they actively participate in.
The Solution
Raincheck Platform, a decentralized online commerce, and loyalty rewards platform have started, with the aim to leverage on distributed ledger technology to enable as many people that are registered with it to have access to loyalty and reward points from any present and future brands seamlessly.
About RainToken
Rain Token is the sole token that powers Raincheck. RainCheck was started in November 2014 and have been in operation since then to enable online-to-offline commerce. Although still developing, the Raincheck platform intends in the long run to operate a decentralized platform, where token holders will have full access to managing and aggregating enough reward points over a lot of loyalty schemes. In a bid to make this simpler, RainCheck will provide the option for consumers to be able to combine the reward points that they accumulate from different loyalty schemes into a single unit, the RAINToken.
Features of RAIN Token
The platform has inculcated mechanisms to ensure those holders of RAIN Token have access to the following features:
- Faster Transactions: With a full operation of the token, users no longer have to wait for too long to either have their loyalty points get to the threshold for use of for their transactions to be performed. With just a few clicks, users can have access to their rewards across different platforms.
- Transfer Anytime: With a functional wallet, users can make transaction anywhere and at anytime, without bothering on time zones of geographic boundaries.
- Monitor Your Reward Points: unlike some other loyalty rewards platforms, where customers hardly have access and control over their rewards, Raincheck offers its users with the opportunity to have full access to managing their rewards on the go without any troubles.
Other features include
- Transfer towards goods and services
- Lower cost of conversion
- Compliant with all existing regulations.
ICO Statistics
Total Coin Supply – 2,000,000,000
Distribution Pool – 700,000,000
Soft Cap: $6,000,000
Initial Rate: $0.04
Target: $12,000,000
Hard Cap: $28,000,000
5% Bounty
3% Optional Tool
5% Team
2% Advisors
10% Community
25% Rewards Pool
35% Distribution Pool
Conclusion
All the features on offer by the platform are worth attracting people to it. We will watch out to see how well it does in providing use case in such a sensitive aspect. Everything seems set though to usher the world of loyalty rewards into an amazing new phase.
Visit https://www.raintoken.org/ for more information.
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