What Is Bitsoko?
Bitsoko is project based in distributed ledger technology that intends to bridge the gap between merchants and consumers. Essentially, it provides cutting-edge technological solutions to clients in the online business industry.
How Decentralized Merchant Service Provider Bitsoko Works
The Bitsoko project primarily targets merchants who run small and medium-sized enterprises, as they are in dire need to professionalize their services. Once a merchant registers their business, Bitsoko develops enterprise solutions that include customer loyalty programs, inventory management, client feedback, e-commerce, and consumer data analytics.
Initially, the loyalty rewards programs involved the issuance of Bitcoin as a reward for shopping on partnering stores. However, the platform has since switched to Ethereum, since it has the provision for building decentralized applications on top of the blockchain.
As of now, Bitsoko is working on infrastructure that will facilitate the integration of the Internet of Things (IoT) technology. This addition will increase the visibility of merchant enterprises by using innovative and eye-catching advertisement models. Furthermore, IoT will initiate a direct connection between the merchants and potential customers using a mobile application.
The flagship device foe Bitsoko’s IoT will be known as Narra. This application will automatically notify nearby customers of the presence of partnering merchant stores. Narra’s applicability is expected to traverse several sectors, including transport, retail and so on.
The SOKO Point Of Sale Terminal
Unlike conventional point of sale terminals, the SOKOPOS acts as an advertising board for merchants, enabling them to reach more clients with the intention of driving up sales.
Fundamentally, the SOKOPOS is a web application through which merchant stores market their products and services to potential buyers. Using this feature, sellers can add products to their store, as well as manage them using the inbuilt inventory.
Bitsoko Enterprise Services
Instead of the POS, merchants can opt to integrate Bitsoko’s API onto their e-commerce website, a provision made by the Bitsoko Enterprise Services. By doing this, the sites will benefit from scalability and security associated with blockchain-based platforms. As of now it cost KES 5,000 (approximately $50) to subscribe to the Bitsoko Enterprise service, a figure that is remarkably low given its potential benefits. In addition, the platform also charges a 0.35% fee on every successfully completed transaction.
Core Features Of Bitsoko
The SOKOPOS enables merchants to reward loyal customers with utility tokens that are exchangeable for either products and services or fiat money. Notably, the seller retains the choice on how the reward points can be redeemed.
Promotions And Subscriptions
Typically, the SOKOPOS interface features a promotions tab. When a user visits a store, they will have the option to subscribe to promotions if they find it interesting. Once the promotion goes live, they will be immediately notified through push notifications on their mobile devices.
Orders And Deliveries
Bitsoko has an efficient logistics network that guarantees the safe and timely delivery of ordered goods and services.
Merchants can access client responses on their dashboard. This makes it easier to identify aspects of their business that need improvement.
Every time a new consumer subscribes, the inbuilt ledger will automatically update itself.
This feature is currently under development.
Bitsoko BITS Token ICO Details
Parameters Of The ICO
- Token Symbol: BITS
- Token Sale Date: 12/01/2017 – 05/01/2018
- Token Price: 1 BITS = 0.1 USD
- Token Standard: Ethereum
- Soft Cap: 4000000 USD
- Hard Cap: 10000000 USD