RUCOIN cryptocurrency and the One Global Loyalty Network are aiming to be a bridge between virtual currencies of the digital world and world-known brands’ bonuses/discounts of the real world.
Now consumers don’t have to combine different rewards and loyalty points, they can just use RUCOIN in the Global Loyalty Network, receiving goods and services that are necessary for them.
Loyalty network offers:
Consumers: the wallet with the RUCOIN account, which shows the RUCOIN fiat equivalent. The list of goods available for purchase for RUCOIN under the loyalty program.
For brands: the opportunity of exponential development of the partner loyalty network. This will reduce their balance obligations by means of use/repayment by consumers.
Manufacturers and brands willing to acquire new customers can also become members of RUCOIN LOYALTY.
Owners (of applications/websites): a convenient and meaningful way to reward users for their involvement without the need of creating and managing the rewards system.
RUCOIN token is a token on ERC20 integrated into ThePower network. It will be a means of exchange and use in the system. Being a cryptocurrency, the RUCOIN token will provide unlimited, safe and secure transactions between partner brands around the world. In addition, RUCOIN will also act as an exit point for site owners who try to attract users. This model will lead to the consumer base growth in the ecosystem, which will result in transactions increase.
The key components of the proposed solution will be RUCOIN, namely the Complex of Interaction between the Clients and the RUCOIN LOYALTY Network.
The RUCOIN tokens are the reserve/primary currency for the entire ecosystem, which will become a means of exchange for any transaction in RUCOIN LOYALTY, just as the US dollar is the currency of the global reserve or the base currency that facilitates international trade by the general exchange rate. Using the RUCOIN token, partner brands and manufacturers can establish the exchange value for their rewards bonuses. Due to the RUCOIN token, repayment will be governed in the ecosystem.
GLOBAL (Acceptance and conversion in online mode)
At first glance, GLOBAL allows local transactions of fiat money between the parties, which is convenient for business. Basically, GLOBAL uses the blockchain and RUCOIN tokens, allowing global cross-border transactions. It is profitable for all three parties involved, brands, manufacturers and consumers. It is possible due to the conversion of different bonuses, points into the common base currency RUCOIN (on the basis of market value) in online mode, using smart contracts.
Brands and manufacturers will have to pay the amount of RUCOIN generated by the smart contract in fiat equivalent during the use/repayment of bonuses, while their users will use the corresonding rewards bonuses for transactions.
The example of GLOBAL:
Let’s assume that: 1 RUCOIN = $1
If the price of the brand tokens is 1 bonus = $1, and it gives 2 bonuses to the user, GLOBAL will involve 2 RUCOIN during the repayment/use of these bonuses.
2 bonuses = $2;
$2 = 2 RUCOIN
If the price of the brand tokens is 5 bonuses = $1, and it gives 10 bonuses to the user, GLOBAL will involve the same 2 RUCOIN
10 bonuses = $2;
$2 = 2 RUCOIN
It ensures balanced ecosystem, regardless of the bonus amount provided by different brands.
For consumers, the one global loyalty network will be a secure and integrated way of using/repaying rewards bonuses, points via the wallet application/web interface. They can use a clean application/website interface to combine all the rewards bonuses received between participating brands and manufacturers and store them as a RUCOIN local fiat equivalent, allowing the users to choose a reward that will have actual value in the world. Rewards will include goods, services, products, subscriptions, updates, etc. from other partner brands.
Brands and manufacturers can also integrate the SDK and API to allow their users to connect the Network within their ecosystem directly.
Worldwide brands can cooperate with RUCOIN LOYALTY, showing their products or allowing their users to use RUCOIN. Brands can even monitor the loyalty statistics of their program.
Brands that do not have their own loyalty program can use RUCOIN to create their own bonuses, which, in turn, can be used/repaid in the global network.
This provides freedom and flexibility to the program members during the bonus repayment/use without prejudice to their brand and existing program. It will also help brands to reduce obligations arising from the provision of rewards bonuses to rare or one-time buyers.
Products of the Research Institute of Innovative Technologies have been working since 2011 and are strengthening initiatives to attract customers to companies around the world. Our offers include loyalty programs, referral programs, social and media resources together with a transaction wallet, which have been designed taking into account granularity, speed and scalability. Similar to the fully controllable system SaaS (Software-as-a-Service), all of our products are designed to interact with the REST API from scratch, protected by OAuth 2.0 authentication. We also have SDK for popular languages that promote even faster integration.
Due to the system, any businesses can easily integrate the interaction components with the help of existing/new application/website. The user-friendly control panel enables to configure all services easily. The products of the Innovation Technologies Research Institute are based on the microservice architecture, where each service operates independently and can be increased/decreased to achieve high scalability and stability. Research Institute of Innovative Technologies currently processes millions of requests with the help of its various partners every day.
Our solution is to make the reward easy with the help of blockchain and cryptocurrency according to all possible aspects of business verticals, geographic features and lawfulness.
Our implementation structure/model will support three different scenarios for maximum coverage.
1. Business with existing interaction programs and internal points searching for partnerships for repayment/use of tokens.
2. Business willing to implement and launch a new interaction program with the finished product of rewards bonus.
3. App & Website willing to reward their users in exchange for internal bonuses.
The RUCOIN tokens will be a reserve currency for brands and publishers to gain access to RUCOIN LOYALTY, working at the blockchain. Smart contracts will manage the listing and execution of transactions that allow instant use/repayment of rewards bonuses.
We will upgrade the core technology of existing interaction components using discrete registers of the blockchain and RUCOIN tokens.
The architecture replaces the “Wallet” component with a decentralized register at the blockchain. On the brand and publisher panels, smart contracts will be created that will manage the whole process. Thus, any configuration associated with the brand/site will be transformed and saved as a smart contract at the blockchain.
The proposed high-level system architecture
During repayment/use of rewards bonuses: When a user from a partner brand or sites uses his bonuses in a global rewards network, the corresponding brand or site will charge a fee for the exchangecost together with the commission for the transaction (0.01%) of providing the use opportunity. The fee will be transferred to the brand that has shown the products in the bonus program for use/repayment. There will also be a 1% interest payable by the brand for increased sales due to RUCOIN LOYALTY.
Savings from the wholesale purchase (Bulk Buy) in the rewards catalogue.
For micro use/repayment, a list of bonus products that are given from the wholesale purchase with minimum savings of 10% to 20% of the use/repayment cost will also be presented.
The example of one transaction:
Market value of one iPhone X is $999/pc. 149,85
Wholesale price (Bulk Buy) with 15% discount for 1000 pcs. – $849,15/pcs.
Price for consumers in RUCOIN LOYALTY - $857,65/pc.
Eaarning = $8.49/pc.
Sold 1000 pieces = $8490
Start: 22.11.2017 (12:00 AM MSK Time, UTC+3)
Finish: 27.12.2017 (11:59 PM MSK Time, UTC+3)
Accepted currencies: Bitcoin (ВТС), Enthereum (ETH)
Minimum transaction amount in Bitcoins 0.0025
Minimum transaction amount in Enthereum 0.04
Minimum: 10 tokens; Maximum: 500 000 tokens;
10 RUCOIN = $12.00 Bonus:
30% – 22.11.2017
25% – 29.11.2017
20% – 06.12.2017
15% – 13.12.2017
10% – 20.12.2017
Limited number – 3.750.000 tokens