[URP] Universal Reward Protocol
Blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been agiler in adopting emerging technologies compared to incumbents who are hampered by legacy systems.
Much of the advertising budget of the retail industry is spent on coupons and returns, but the typical lack of personalization of these campaigns has widened the gap between consumer expectations and their actual experience in the store, which requires a technical solution that guarantee the reach, the data quality and its scalability. For this reason, I want to introduce you Universal Reward Protocol, a new project based on blockchain technology and smart contracts that will try to solve this problem by providing a unique ecosystem for all retailers to reward their customers for any type of purchasing behavior and for sharing the corresponding Behavior Test data with the retailer.
As I said before, Universal Reward Protocol (UPR) (https://rewardprotocol.com/) is a protocol based on a chain of blocks where retailers can reward buyers for multiple behaviors such as simply visiting the store. Basically, the idea is that retailers offer URP tokens as an incentive for buyers to interact along a desired behavior, and use the collected data to tailor personalized offers through which buyers redeem their tokens.
By agreeing to share your purchase data with the network, a buyer earns reward tokens, while the data is used by retailers to create exchange offers that best suit the needs of each customer. Buyers can redeem their tokens through these exclusive and personalized offers.
All purchasing behaviors, online and offline, such as shop visits, online browsing, shopping or influencing social media, will be rewarded through URP. A dApp like Occi (explained in their WhitePaper here: https://rewardprotocol.com/wp-content/uploads/URP_Whitepaper-2.pdf) can be used as a Proof-of-Behavior in this Protocol to reward in-store activity using the IoT and AI technology build and installed with some of the largest retailers worldwide.
The main goal of URP Protocol Project is to revolutionize the shopping experience and bring a new era of data-driven retail, more respectful of the privacy of buyers while unlocking everything The power of individual marketing.
The URP is a new way for retailers and brands to interact directly and transparently with their buyers, and automatically reward their behavior and the exchange of data in a personalized and streamlined way. By agreeing to share your purchase data with the network, a buyer earns reward tokens, while the data is used by retailers to create exchange offers that best suit the needs of each customer. Thus, buyers can exchange their tokens through these exclusive and personalized offers.
This protocol based on blockchains allows retailers to reward buyers for any type of buying behavior, such as simply visiting a store. By agreeing to share your purchase behavior data with the network, a buyer earns URP reward tokens, while the data is used by retailers to create exchange offers that best suit the needs of each customer. Buyers can redeem their tokens through these exclusive and personalized offers.
The following table shows a summary of everything explained above.
Once all this is understood, rewarding a buyer through URP consists of a series of 8 steps:
- Retailers design campaigns in the URP web interface to encourage the behavior of their customers.
- The campaign is published in the block chain as an intelligent contract.
- The campaign is available to buyers.
- The buyer gives his consent to the collection of campaign data
- A dApp collects data on the type of buyer behavior relevant to the campaign.
- The dApp produces Behavior Test (PoB) data that certifies that the conditions of the smart contract have been met. A hash of the PoB is sent to the smart contract.
- The contract releases the reward, after the PoB authentication.
- The complete data of the PoB is encrypted and sent securely to the retailer.
- Next, the buyer can choose to exchange the tokens with the same retailer, or another retailer belonging to the URP network, through a personalized offer that the retailer has created based on the previously compiled PoB data.
For all the reasons explained above, Universal Reward Protocol allows any retailer to join the network and easily create rewards campaigns using smart contracts while ensuring buyers complete control and security of their data. . The main advantage of the Universal Reward Protocol is being able to reward multiple behaviors online and offline.
In addition, where traditional loyalty programs only reward purchases, URP now allows retailers and brands to reward individual buyers for any behavior they consider relevant to their strategy of capturing and retaining customers in the omni channel. Create an ecosystem where shoppers can finally enjoy all the benefits of a fully customized, universal, and omni-channel, universal customer reward program through all of their favorite retailers. All this with the privacy of each client as a priority, and with the total transparency of the blocking chain technology.
In this way, as a decentralized protocol, any retailer, buyer and dApp can participate in the URP in a safe and reliable way.
The project gives the opportunity to earn Universal Reward Protocol (UPR) tokens performing some social media tasks and doing simple steps from the bounty program explained into the Medium Platform. Here (https://medium.com/@RewardProtocol/the-bounty-program-of-universal-reward-protocol-is-on-3a8d464a87ed) you can access the link in order to see what are the conditions to become an early UPRcontributor and start acquiring tokens.
Besides, if you are a URP enthusiast this is your chance to earn a big reward! They are giving up to $1000 only by completing a brief survey. Don't miss it!
Date Events 2015 Launch of the company.
Partnership signed with Auchan, one of the world's biggest distribution groups.
Development of the Occi product.
2016 Proof of concept, first Auchan store equipped with IoT sensors.
Seed funding round from business angels.
Filed two patents on proprietary algorithms.
Awarded at the Concours Mondial de l’Innovation (World Innovation Competition) by the French Public Bank of Investment.
2017 Solution is market-ready.
Contract signed with Carrefour, one of the largest hypermarket chains in the world.
Contract signed with Galeries Lafayette.
Occi live in more than 100,000 square meters of top retailers stores with 150,000 unique visitors identified every day.
Inception of URP Protocol.
Q1 2018 Token design and development.
Presentation of URP to brands and retailers.
Refinement of the protocol based on their expressed needs.
Q2 2018 Design of the architecture of URP protocol.
Preliminary partnerships discussions with consumer brands and retailers.
Release of the White Paper.
Mockup of the retailer interface and the shopper app.
Q3 2018 Release of UX/UI of the retailer interface.
Release of UX/UI of the shopper interface.
Release of URP MVP: Smart Contract Templating and Campaign browsing.
Letters of intent from known retailers and brands.
Q4 2018 Alpha release of URP : Proof-of-Behavior specifications.
Collaboration with first dApps.
Integration with a self-sovereign identity service (SSIS).
Development of the shopper app.
Development of the retailer interface (Campaign Manager).
Launch of pilots on the testnet for onboarded retailers and brands.
Q1 2019 Integration of other dApps on the testnet.
Bounty campaign for beta testers.
Publication of first pilot results.
Q2 2019 Marketing campaign aiming at large-scale shoppers adoption.
Brand and retailers expansion.
Release on the mainnet.
Launch of the shopper app on application stores: tokens are used to reward any shopping behavior that can be certified by the dApps implementing URP.
Q3 2019 Deployment of URP to early adopting brands and retailers.
Other dApps join the protocol to reward all behaviors on mainnet.
Q4 2019 Start of international expansion in Europe and China. 2020 S1 :
- International expansion to North & South America.
- Protocol tokenomics optimization.
- URP global scale-up.
- All facets of shopping behavior can now be rewarded through URP.
The URP token is a generic token of utility Ethereum ERC20, which uses intelligent contracts and has a double function. On the one hand, retailers will distribute URP tokens to reward buyers according to the rules they choose. Buyers, on the other hand, will exchange these URP tokens in exchange for discounts, gifts or premium services. On the other hand, the URP token will be used as an incentive for all interested parties to behave correctly, avoiding fraud and protecting the network.
Therefore, the URP token is the incentive that retailers use to encourage desired behaviors in their buyers. It is redeemable at all retailers in the network, which makes it a universal reward, and brings direct value to buyers who are already saturated with specific captive rewards for each retailer.
Price in ICO: 1 URP= 0.1 EUR
Tokens for sale: 240,000,000
Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (https://rewardprotocol.com/wp-content/uploads/URP_Whitepaper-2.pdf). You can also stay tuned in their official Telegram group (https://t.me/UniversalRewardProtocolOfficial). I hope you liked the post and soon I'll send you new ones.
Email: [email protected]
Bounty0x username: adriaparcerisas
Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71