Based of a research program from Ecole Polytechnique (French Leading Engineering School) and UC Berkeley, Universal Reward Protocol leverages blockchain, IoT and AI technologies to transform the way customer loyalty programs and reward ecosystem work.
Universal Reward Protocol is a blockchain-based protocol where retailers can reward shoppers for multiple behaviors like simply visiting the store. By accepting to share their shopping data with the network, a shopper earns reward tokens, while the data is used by retailers to build redemption offers that best suit each customer’s needs. Shoppers can then redeem their tokens through these exclusive and personalized offers.
A dApp like Occi 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.
Shoppers can finally enjoy all the benefits of a fully customized, omni-channel customer universal reward program, portable across all their favorite retailers. All with each customer’s privacy as a priority, and with the full transparency of blockchain technology.
Attention. There is a risk that unverified members are not actually members of the team
The team has a good vision of the problem and tries to solve in a way that can bring a benefit for both sides – retailers and customers. Partnerships with one of the biggest retailers in the world and implemented protocols are important, as all the investors will want to see how it really works. On the other hand, there is not enough of hype around the project. A Technical Whitepaper will be released soon where the team is planning to explain their solution for the issue with scalability and transaction cost as the protocol was built on top of Ethereum blockchain.Project that promises to solve customers’ data security issues, at the same time helping retailers to improve their services, definitely deserves attention.
Universal Reward Protocol is definitely a strong ICO project and has made serious strides in terms of both technological and business development. The URP team brings a considerable amount of quantifiable results to the table and set themselves apart from the majority of ICOs as a result. The development and successful deployment of the Occi solution alongside entering into working partnerships with multibillion European corporations such as Auchan, Carrefour, Galeries Lafayette, and Nestle is impressive. However, as with any blockchain project there are areas of concern, firstly the team is still relatively young and inexperienced in the business world with a number of team members in the process of building impressive employment histories. Also URP operates in one of the less attractive sectors of the blockchain as far as investors are concerned and lags behind high throughput blockchains, exchanges, and artificial intelligence projects in terms of marketability. This is evidenced by the relatively low valuations of its competitors and the team will have to work hard to attract revenues and ensure that a significant amount of value is retained throughout their ecosystem. Furthermore, if the team do reach their hard cap they need to have good finance-management post-ICO in order to avoid over-spending and bankruptcy.Most importantly, the team’s impressive achievements do not guarantee that URP will be intrinsically valuable out of the gate as the token has little use for most purchasers outside of pure speculation. However, the team appears to have anticipated this and have incorporated a number of lock ups into their token sale. Private sale participants receive a 40% bonus attached to a vesting period of 6 months which starts 30 days after the reception of the main token stake, while Pre-sale participants receive bonuses of 25% to 15% and see their tokens being vested for 4 months starting 30 days after the main token stake.In addition, the advisors’ tokens are locked for 12 months, while the founding team’s tokens are locked for 2 years, and the reserve tokens are split with 50% in 12 months lock-up, and 50% in 24 months lock-up. These conditions are designed to give URP a good level of resilience immediately after the token sale, however, this project still best suits the long term investor, and without a large amount of hype, the project may not attract a large quantity of retail investor funding or trading activity on the secondary markets.As a result the team will be forced to aggressively drum up adoption and the 35% of tokens held in reserve will be used to lower acquisition costs for new retailers and brands as well as help to gain traction by rewarding any early adopters. URP should prove interesting for anyone looking for a longer-term project to participate in, or anyone with a stronger interest in the retail industry, also any unsold tokens will be reallocated to all buyers who participated in the token sale proportionally to their initial stake which is an extra bonus for token sale participants.
PositivesDistributed Data Storage: URP allows showers to decide which retailers they want to share their data with. This sensitive receipt data is isolated between the retailers while your navigation data will be available to every node on the network.Utilizes IoT Technology: Since it combines blockchain technology with IoT technology, users are able to receive detailed data reports on their shopping habits while also having encrypted data that’s protected from unauthorized third parties and hackers.Affiliated Businesses: So far, Universal Reward Protocol is backed by successful companies such as Nestlé, Carrefour, and Auchan. As time progresses, we can see URP be used by other companies that are willing to learn more about their shoppers so they can better advertise and promote their products to them.NegativesData Protection: We would like to know how does Universal Reward Protocol plan on preventing shopper’s data from being used by fraudulent shopping sites and low quality retail stores?No MVP: Until Universal Reward Protocol has a working product, it will be difficult for users to see how their platform works. They are planning to make an MVP by early 2019.
This offer is based on information provided solely by the offeror and other publicly available information. The token sale or exchange event is entirely unrelated to ICOholder and ICOholder has no involvement in it (including any technical support or promotion). Token sales listed from persons that ICOholder has no relationship with are shown only to help customers keep track of the activity taking place within the overall token sector. This information is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice or carry out your own due diligence before taking, or refraining from, any action on the basis of the content on our site. Any terms and conditions entered into by contributors in respect of the acquisition of Tokens are between them and the issuer of the Token and ICOholder is not the seller of such Tokens. ICOholder has no legal responsibility for any representations made by third parties in respect of any Token sale and any claim for breach of contract must also be made directly against the Token issuing entity listed herein.
If you have any concerns about the nature, propriety or legality of this token sale or the persons involved in it please contact [email protected] with detailed information about your concerns.