Since its inception, blockchain technology has gone on to slowly permeate all aspects of our day-to-day life. The last few years have seen many cryptocurrencies spring up, all in a bid to exploit the various benefits that this new technology has to offer. It is a technology that has amazing real-world use cases, some of which continue to leave the global populace dazed.
2017, was, for instance, an amazing year as far as the cryptocurrency world is concerned. It is a year that saw the popularity of various cryptocurrencies begin to soar far, and above the cryptocurrency enthusiasts’ expectations. One of the areas that was put through a re-engineering process was the loyalty rewards schemes.
For long, this is one area that has operated with numerous problems, some of which can easily be addressed through the use of appropriate technology. For instance, the results of one research indicated that close to seventy percent of the total global population belonged to at least 1 loyalty rewards program.
The Problem Raincheck Rain Token Seeks To Solve
This is, however, not the main problem. The problem is that many of these shoppers are not in a position to use the rewards that they have been able to accumulate since they joined the rewards programs. For those that are willing to use the loyalty rewards, they soon come to realize that they cannot be able to do so as they have not reached the threshold required.
Many traditional programs find themselves dealing with points that have accumulated over time, and which have at some point become accrued liabilities. This translates to a lot of cash in obligations. In the long run, it becomes a problem for the consumers, as well as the brand.
Of course, modern technology has made it possible for customers to join different loyalty programs at a time, but, you will find that there still exists a gap in the number of rewards programs that a customer belongs to and the ones that they actively participate in.
The Raincheck Blockchain Rewards For Online Business Solution
The solution comes in the form of the Raincheck Platform. It is a decentralized loyalty reward, and e-commerce platform, which seeks to leverage on the use of distributed ledger technology to make it possible for as many people as possible to register on its platform. All customers registered with the platform have access to reward and loyalty points from both present and future brands.
Raincheck Rain Token & ICO Details
Raincheck is solely powered by the Rain Token. It was started in November 2014 and has been operational since that time. Its main goal is to facilitate both traditional and online commerce. Although still under development, the platform hopes to be able to run a decentralized platform in future.
Token holders will, therefore, be able to manage, as well as aggregate enough points by joining many loyalty reward programs. To simplify the program further, consumers will have an option to combine all their reward points from their different loyalty schemes into a sole unit.
Parameters Of The ICO
- Total Coin Supply – 2,000,000,000
- Distribution Pool – 700,000,000
- Soft Cap: $6,000,000
- Initial Rate: $0.04
- Target: $12,000,000
- Hard Cap: $28,000,000