HotNow platform provides merchants in SE Asia with costeffective, high-efficacy marketing tools, while encouraging merchants to transfer some of that value surplus to consumers of their goods an d services. Given the impact of blockchain and surrounding technologies, the inevitable evolution of HotNow is an expansion of its current real-time marketing app and platform into a token economy. Its unique location-based services (LBS) already generate profits and increase market exposure for partner merchants, and deliver value and great content to its users. The platform will become a network that ut lizes strict open source protocols, smart contracts, and (rapidly growi g ) developments in distributed l dger and other decentralized (permissioned) data structure solutions. As part of this next-step evolution of its proven business model, HotNow will transform into a gamified ecosystem based on a utilitarian access token (ERC-20 standard, symbol: HTKN) and micro-transactions. The HotNow token economy will reward its participants with HTKN for every economic activity they perform (every action made by buyers and sellers that keeps the HotNow ecosystem growing). HotNow utilizes unique methods in the creation of its ecosystem with an emphasis on mechanics found in “freemium” video games and other game mechanics that increase shop conversion rates and enhance consumer engagement. Other innovations include individually-tailored loyalty programs for cash-base d businesses and tools that enable merchants to create organizations and solve coordination problems such as creating shared loyalty programs and aggregating purchasing power. In addition, deep analysis of the spending history data of consumers can create “credit profiles” for individuals without financi l history to enable these consumers to access micro-loans.
A gamified token economy built upon democratizing token that reinvents digital marketing to optimize the value of money for consumers while increasing revenue for businesses.
For consumers, HoToKeN (HTKN) will be an access-granting token to the best deals and promotions a business can offer. For businesses, it will be a means to explore the true price elasticity of their demand function. When the value of HTKN stabilizes, in the eyes of both the businesses and consumers, HTKN will be the dominant currency for all transactions in the network.
HotNow will use distributed ledger and blockchain technologies based on the StellarProtocol to create a platform that allows merchants to aggregate purchasing power andto negotiate better pricing from the currently inefficient supply chain in SE Asia. HotNowplans to work with the government to enable more efficient direct import and customsclearance of aggregated orders, thereby offering the government a blockchain custodysolution. These are just some examples of how the ecosystem and the permissioneddistributed ledger solution suggested will solve acute real-life synchronization andefficiency problems.
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