Berith, found online at Berith.co, is a type of global loyalty program built on the blockchain. Find out how it works today in our Berith review.
What Is Berith?
Berith is a global loyalty program designed to offer better benefits to customers and service providers.
The platform is being developed by a Korean team based in Seoul. Right now, the Berith whitepaper is available exclusively in Korean, although the website is available in both English and Korean.
Overall, the goal of Berith is to create a global loyalty program that incentivizes both customers and businesses. Businesses receive tokens based on their investment into the platform, and customers receive tokens when they buy products and services from a company, or when they collect mileage from a company.
Just like other blockchain-based loyalty programs, Berith aims to become the world’s preferred loyalty program used by customers and businesses around the world.
The Berith ICO launched earlier this month, and it continues throughout September and October.
How Does Berith Work?
The primary role of Berith is to issue encrypted tokens based on mileage and points. You earn mileage and points in exchange for working with a particular merchant or service provider.
The ecosystem will revolve around three core components, including Berith Wallet, Berith Coin, and Berith Pay.
The idea behind Berith is simple: we all have accumulated points from various loyalty programs. Some of us have mileage that remains uncollected. However, all of these points are split between different loyalty programs: you can only spend airline loyalty points on flights and airline-approved services, for example. Berith wants to change that by allowing customers to spend their points on Berith tokens, and then use those digital tokens as a standard digital currency.
These Berith tokens can then be used for transactions in your real economic life. The best way to see how Berith works is to look at how it works for service providers and customers:
For Service Providers
- Supports promotional efforts and marketing, allowing businesses to advertise their business with a global network of Berith users
- Blockchain-based platform provides and manages membership services in a global loyalty program
- Offers foundation for service activation and increased sales through affiliation in the platform and acquisition of regular customers
- Trade your missed mileage and points into tokens
- Use multi-functional services through a global platform without being restrained by region or the type of business
- Supplemental services, convenience, and additional bonuses are available
Berith offers all of the following features:
Collect and Convert Points: You can collect and convert points with all affiliated Berith service providers worldwide.
Marketing: Berith will provide various marketing functions to promote the platform and encourage businesses to join the network.
Partnerships: Berith describes itself as “an open and extensible platform” that is continuously evolving through partnerships and connections.
Memberships: Berith’s Membership Platform can earn, use, and settle points and perform various marketing functions.
Pay and Wallet: Berith provides various marketing functions that can perform promotions and events.
Who’s Behind Berith?
Berith is led by a company called iBIZsoftware, which has previously developed mobile and web frameworks, big data platforms, and major loyalty programs used by businesses. The company is led by CEO Suwoong Lim, who has managed IT companies for 27+ years.
iBIZsoftware is based in Seoul, South Korea.
In terms of a development strategy, Berith plans to launch its wallet in January 2018, then launch its Berith Pay app in March 2018. They aim to establish memberships with large Korean companies during this time period.
Throughout 2018 and 2019, Berith will launch its platform in China, Japan, and remaining parts of Asia, in that order. By March 2019, Berith hopes to launch its global marketing platform worldwide.
The Berith Token Sale
The Berith token sale is taking place throughout September and October. Bonuses of up to 15% are available at the beginning of the sale.
There will be a total of 700,000,000 BRT tokens available during the first and second rounds of the ICO. The total supply is 10 billion BRT. Once the first round is over, Berith aims to have launched platforms like Berith Wallet and Berith Pay.
Right now, it’s a little difficult to understand the full aspects of Berith’s loyalty program. The website is written in poorly-worded English, and the whitepaper is only available in Korean. Nevertheless, based on the information we can find online today, Berith appears to be creating a loyalty program that incentivizes both businesses and customers to participate.
The program involves giving businesses tokens based on their investment into the loyalty program. Customers, meanwhile, can receive tokens from businesses in exchange for buying products and services or collecting mileage.
Ultimately, Berith doesn’t have to appeal to English-language investors because the company has no plans to launch worldwide until 2019. Initially, Berith will launch in Korea before expanding into China, Japan, and other parts of Asia. They’re actively seeking to partner with major Korean companies over the next year.
Obviously, Berith isn’t the first blockchain-based loyalty program competing for your attention. Visit Berith.co to learn more about how this platform aims to become the preferred loyalty program for customers worldwide.