Overview

BitRewards is a blockchain loyalty platform and ecosystem that enables retailers to reward their customers' purchases, friends' invited and other configurable actions with crypto-currency.

Project stage

Beta version

Detailed description

BitRewards also brings a lot of benefits to the retailers, because they get customers that are more satisfied with the rewards in crypto and become even more loyal. A comprehensive loyalty program increases the retailers’ revenue by dozens of percents. The stores are also tapping into the cryptoenthusiasts audience, which is quite active and appreciates the attention from the regular businesses.

The unique value proposition for the retailers is that BitRewards will offer this valuable and expensive loyalty technology free of charge. The retailers will only have to buy BIT in the open market to reward their users. The value of such software starts from $200/month, therefore thousands of retailers will be keen to connect to the platform. We can make such a claim, because we operate in the market of rewards and loyalty software for more than 5 years, have more than five hundred clients - online stores and deeply know their needs.

BitRewards also uses AI-based predictive analytics, which allows to configure the rewards and actions for each particular business to address its unique target audience and achieve the highest return on investment from every dollar spent on the rewards.

BitRewards is compatible with most existing e-commerce systems (Magento, Shopify, WordPress,Ecwid, etc.). It is easy to integrate and has a simple API.

Problem

Encouraging loyalty is not an easy game. A lot of customer issues can result in problems for loyalty rewards providers, including:

  • Account inactivity
  • Low redemption rates
  • Low client retention
  • Increased costs for customer service
  • Low motivation by offered rewards 

Solution

  • Account inactivity: BitRewards consolidates retailers in the integrated open-loop loyalty system and provides a simple and convenient user interface with a customer-centric approach. Every individual user will have a single wallet, accessible from the website of any participating merchant, or from a web or mobile app. There is no need to register in a standalone loyalty program of each retailer, and the acquired tokens can be redeemed with any other network member.
  • Low redemption rates: Unlike the existing loyalty systems that give points, BitRewards transfers value into tokens and credits them directly to the customer’s wallet. The value of the rewards denominated in crypto-currency is poised to go up along with the growth of the crypto-economy and the market share of the blockchain based services and infrastructure, which will make customers want to spend their tokens for additional purchases. The users will also be receiving regular reports and offers from the stores where they made their purchases, which will also serve to incentivize further actions.
  • Increased costs for customer service: Merchants can use the BitRewards platform for free. It can be easily installed, and set up and does not require any special technical knowledge or skills. The workflow around receiving and spending BitRewards tokens will be standard for all participating customers, and questions will be handled by the BitRewards service operator, who provides technical guidance, support and quality assurance.
  • Low motivation by offered rewards: Customers will perceive the received crypto-currency as being “for free”. It will spur their additional interest in cryptocurrencies and initiate demand for valuable rewards from the places they will shop at.

Features

New customer experience

The BitRewards decentralized loyalty system creates a unique, user-friendly customer experience:

  • The regular customer’s dashboard with loyalty points turns into a full-fledged crypto-wallet linked to hundreds of merchants. Creation requires only a simple registration with a Facebook account, email or phone number. It can be used as a regular wallet for the storing of BitRewards cryptocurrency, as well as other currencies (Ethereum, Bitcoin, etc.), growing in value of the received rewards (connected with the growth of token).
  • The bonuses in the form of BIT from different merchants are accumulated in one customer’s account, which is connected to the entire BitRewards Network. 
  • The tokens can be redeemed with any merchant within the BitRewards Network and the network’s partners that can promote their business with additional bonuses and discounts for the BIT token holders. 
  • Customer crypto-wallet’s BIT balance will also be connected to the bank debit plastic or virtual card, which the users can spend just as if they used their regular Visa or Mastercard. 
  • Maximum flexibility and security of the rewards: tokens unlike points don’t expire; they can’t get lost, or cease to exist if the merchant goes out of business. 
  • An easy way to make purchases in cryptocurrency: Ethereum and Bitcoin can be credited to the customer’s BitRewards account and be used as payment with BitRewards’ participating merchants. 
  • The token’s value is set for appreciation due to an increasing demand from retailers and the general prevailing bull market nature of crypto-markets right now. 

Advantages to retailers

The retailers connected to the BitRewards Network acquire new marketing tools and increase customer loyalty:

  • Free, but powerful and flexible loyalty program for any retailer, brand or service. 
  • Unique opportunity to reward customers and pander to cryptocurrency enthusiasts wants. 
  • Great chance to stand out among competition and promote a brand or a store. 
  • Outstanding value for the customers: BitReward’s business model suggests constant appreciation of BIT. (When customers hold BIT received as a reward from a store, they may see their value go up over the course of time). 
  • Seamless convert of BIT into Bitcoin, Ether and any other cryptocurrency right in the user’s wallet on merchants’ websites, or on any other wallet or exchange. 
  • Amazing incentive for customers when their reward amount grows, enabling the merchants to communicate good news and attract a lot of repeat business. 
  • Cross-redemption of BIT: users can redeem BitRewards Tokens with member merchants, or any other participating operator. Something, which will make them feel valued much more than when receiving standard points.
Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : BIT
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 15,000,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :3,000,000 USD
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :2,000,000,000 BIT
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :1,280,000,000 BIT
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Open(Start Mar 14, 2018)
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BTC, ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :China, Singapore, USA,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    May 10, 2018

    Unsold tokens

    All unsold tokens will be burned.

      • Token Distribution

        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Public sale — Ended
      09 Apr 00:00 UTC
      31 May 00:00 UTC
      0.00003472 ETH No - Uncapped Uncapped
      Pre-sale — Ended
      12 Jan 00:00 UTC
      31 Mar 00:00 UTC
      0.00003472 ETH No - Uncapped Uncapped
      Private sale — Ended
      25 Nov 00:00 UTC
      11 Jan 00:00 UTC
      0.00003472 ETH No - Uncapped Uncapped
      • Team

        • Alexander Egorov photo
          Alexander Egorov
          CEO
        • Alexander Nevidimov photo
          Alexander Nevidimov
          CTO, Blockchain architecture, Big Data expert
        • Andrey Kladov photo
          Andrey Kladov
          Mobile architecture, blockchain
        • Vitaly Makarenko photo
          Vitaly Makarenko
          COO
        • Marat Arslanov photo
          Marat Arslanov
          CMO
        • Segey Alisov photo
          Segey Alisov
          Head of design
        • Ilya Starovoitov photo
          Ilya Starovoitov
          Business Development
        • Zytsar Svyatoslav photo
          Zytsar Svyatoslav
          Frontend engineer
        • Dmitrii Semenov photo
          Dmitrii Semenov
          QA engineer
        • Maksim Litkevich photo
          Maksim Litkevich
          Technical support engineer
        • Alexey Gritsyna photo
          Alexey Gritsyna
          Business Development, E-commerce
        • Rumen Slavchov photo
          Rumen Slavchov
          PR, IR, Marketing and Stucturing
        • Nick Avramov photo
          Nick Avramov
          Head of PR
        • Alina Terehova photo
          Alina Terehova
          Community manager
        • Vladislav Sheludchenkov photo
          Vladislav Sheludchenkov
          Community manager
        • Daniil Bryukhin photo
          Daniil Bryukhin
          Sales manager
        • Nail Gazizyanov photo
          Nail Gazizyanov
          Chat-bot, machine learning engineer
        • Sergey Edinin photo
          Sergey Edinin
          Backend developer
        • Roman Mukhutdinov photo
          Roman Mukhutdinov
          Frontend engineer
        • Ramil Zayneev photo
          Ramil Zayneev
          Full-stack developer
      • Advisors

        • Ivan Anichkov
          Enterprise solutions, Data Expert,
        • John McNaughton
          Payments processing and finance advisor
        • Jason Hung
          Advisor, technology, Greater China scaling
        • Sergey Fradkov
          International scaling and business development
        • Roman Yankovskiy
          Legal Advisor
        • Reuben Godfrey
          Advisor, PR, global scaling
        • Nathan Christian
          Blockchain Technology Advisor
        • Sergei Repko
          ICO strategy, marketing, IR
        • Renat Razumov
          Advisor blockchain, vision
        • Alex Linenko
          Tokenomics, business and financial model, strategy

      Roadmap

      • Nov 2016 - Feb 2017

        Development of a points based loyalty system GIFTD designed to reward shoppers.

      • Feb - Oct 2017

        Structuring the concept of using Ethereum blockchain with loyalty and rewards tools and customer development of the cryptorewards for e-commerce industry, team hiring.

      • Oct 2017 - Feb 2018

        The full-functioning loyalty system BitRewards for the retailer and the user's crypto-wallet connected to the loyalty program, with access on the website of retailer and BitRewards website.

      • Mar - Jun 2018

        Retailer Crypto-wallet and liquidity management smart contract.

      • Jun - Jul 2018

        Integration of loyalty system with Lightning Network and Raiden Network (after the launch of these technologies).

      • Jun - Aug 2018

        Customer’s Mobile app with crypto-wallet.

      • Jul - Nov 2018

        Introduction of digital gift cards and scanning of loyalty cards into the mobile wallet.

      • Sep - Dec 2018

        Mobile SDK for merchants’ apps.

      • Jan - Apr 2019

        Integration of AI and machine learning into the BitRewards platform.

      • Apr - May 2019

        Blockchain based traffic exchange between online and offline merchants.

      Activity