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Bitrewards White Paper BitRewards White Paper Bringing blockchain to customers’ loyalty December 30, 2017 Contents EXECUTIVE SUMMARY ...................................................................................................................................................... 5 TOKENS — BIT .........................................................................................................................................................................6 MARKET OVERVIEW ......................................................................................................................................................... 7 PREFACE ..................................................................................................................................................................................7 LOYALTY MANAGEMENT MARKET ..................................................................................................................................................8 KEY PROBLEMS FOR LOYALTY AND REWARDS SOLUTIONS ....................................................................................................................8 Account inactivity .............................................................................................................................................................8 Low redemption rates ......................................................................................................................................................9 Low client retention .........................................................................................................................................................9 Increased costs for customer service................................................................................................................................9 Low motivation by offered rewards ...............................................................................................................................10 VALUE PROPOSITION ...................................................................................................................................................... 11 HOW DOES BITREWARDS SOLVE THE MAIN PROBLEMS OF LOYALTY SYSTEMS? .....................................................................................11 Account inactivity ...........................................................................................................................................................11 Low redemption rates ....................................................................................................................................................12 Increased costs for customer service..............................................................................................................................12 Low motivation by offered rewards ...............................................................................................................................12 BITREWARDS BENEFITS .............................................................................................................................................................13 New customer experience ..............................................................................................................................................13 Advantages to retailers ..................................................................................................................................................13 Platform, ecosystem and community .............................................................................................................................14 HOW IT WORKS .............................................................................................................................................................. 14 HOW CUSTOMERS EARN BIT. USER EXPERIENCE. ...........................................................................................................................14 STEPS TO REDEEM....................................................................................................................................................................19 RETAILERS’ WORKFLOW ............................................................................................................................................................20 Option 1. Working with the system through the BitRewards operator .........................................................................20 Mechanics of rewards payment through the BitRewards operator ...............................................................................21 Payments for purchases through the BitRewards operator: ..........................................................................................21 Maintenance of fiat and cryptocurrencies reserve at the BitRewards operator ............................................................22 Option 2. Direct transactions .........................................................................................................................................22 Liquidity smart contract .................................................................................................................................................23 PRODUCT ARCHITECTURE ............................................................................................................................................... 24 RETAILERS ..............................................................................................................................................................................24 Plugins for online shopping platforms ...........................................................................................................................24 2 Merchant’s dashboard ...................................................................................................................................................25 Retailer’s crypto-wallet ..................................................................................................................................................25 Auxiliary parts of the system: .........................................................................................................................................25 CUSTOMERS ...........................................................................................................................................................................26 Customer’s loyalty program dashboard with integrated crypto-wallet and access to the merchants’ websites ..........26 Mobile applications ........................................................................................................................................................27 BITREWARDS NETWORK ..........................................................................................................................................................28 BitRecommendations — AI-driven decentralized recommendations system. ...............................................................28 BitRewards DAO .............................................................................................................................................................32 BitRewards Operator......................................................................................................................................................33 Bancor Liquidity smart contract .....................................................................................................................................34 BUSINESS MODEL ........................................................................................................................................................... 34 PROJECTED REGISTRATION OF RETAILERS IN BITREWARDS SYSTEM .....................................................................................................35 GO TO MARKET STRATEGY ............................................................................................................................................. 37 ACTIVE INTERACTION WITH THE COMMUNITY OF ENTREPRENEURS AND ONLINE STORE OWNERS ..............................................................38 PARTNERSHIPS ........................................................................................................................................................................39 RELATIONSHIPS WITH DEVELOPERS AND SERVICES PROVIDERS ...........................................................................................................39 TEAM .............................................................................................................................................................................. 40 ADVISORS ....................................................................................................................................................................... 49 PARTNERS AND EARLY ADOPTERS’ TESTIMONIALS ......................................................................................................... 52 HISTORY AND CURRENT PROGRESS OF THE COMPANY .................................................................................................. 56 PRODUCT ROADMAP ...................................................................................................................................................... 56 TOKEN GENERATION EVENT DETAILS .............................................................................................................................
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