Statistically speaking, a near about 48 trillion loyalty points that are doled out by various companies, brands, hotels to their customers remain unused on an annual basis. Their collective worth has been estimated to be around $99 billion dollars, and as a result of this many companies face enormous yearly losses.
Most of the loyalty programs that are on offer these days, come laden with many rules and regulations which make their utilization extremely cumbersome. Thus, in recent times, there has been a lot of research that has been directed towards using the blockchain to optimize the distribution of loyalty points in an easy, streamlined manner.
The Rucoin cryptocurrency aims to serve as a global platform that will bridge the gap that currently exists between “virtual currencies and well-known brands”. Through the use of RuCoin, customers will be able to reap real bonuses/discounts in a completely hassle free, easy manner. They will no longer have to combine different reward schemes and loyalty points, but instead will be able to use RucOin to receive a wide array of free goods and services.
Some of the Key Aspects of RuCoin
One of the main benefits of using RuCoin is the fact that it is convenient and safe in terms of its functionality. It makes use of a global infrastructure, that does not impose any “legal, geographical and technological limitations” on its ecosystem.
(ii) Expansion Ready:
As and when the adoption of RuCoin increases all over the globe, it will become progressively easier for people to make use of these coins with a variety of partner brands, services etc.
As mentioned earlier, RuCoin is based completely within the blockchain, and thus is able to perform all of its all internal transactions in a completely transparent, safe manner.
(iv) Unified Platform:
Rucoin has outlined the creation of a unified One Global Loyalty Network (Rucoin Loyalty) that will integrate “brands, manufacturers and consumers” onto one platform.
(v) Direct Exchange:
Though the use of the platform, customers will be able to make use of native tokens to procure bonuses
More About Rucoin
(i) Easy Conversions:
Another underrated aspect of RuCoin is that it will come loaded with a digitized e-wallet that will allow for native coins to be exchanged in place of various crypto + fiat currencies.
Through the use of various encryption protocols, all transfers and exchanges within the platform will be done in a completely safe and secure manner.
A use of Rucoin that often gets overlooked is that it can act as an “exit point for site owners who try to attract users” to their business. As a result of this, the business model used by RuCoin will be able to increase consumer base growth within the ecosystem.
Rucoin ICO Token Details
As mentioned earlier, all business transactions that take place within the platform will be done via the use of Rucoin tokens. In all, there will be a total of 500,000,000 coins that will be created. Additionally, there will be a soft cap of $4,500,000 and hard cap of $45,000,000 in place. In terms of the payment options, all purchases can be made through the use of digital assets such as ETH and BTC.
The pre ICO phase has already concluded, however the ICO is still underway, and will go on till the 15th of April, 2018. The price of 1 token = $2.
Token Distribution Model
- 9% of the entire currency pool will be made available to potential investors via the ICO and Pre ICO phase.
- 81% of the tokens will be used for the creation of a reserve that will allow for the timely distribution of rewards within the RuCoin ecosystem.
- The remaining 10% of the tokens will be made available to company advisory, board members, early backers, as well as for the creation of a bounty program.
Revenue Utilization Model
- 30% of all raised money will be used for the construction of necessary infrastructure that will allow for strategic scaling of the Rewards Catalogue.
- Another 30% has been set aside for the creation of “sales alliances” within specific geographic regions with key brands.
- 25% of the entire budget will be used to market and advertise RuCoin all across the globe (so as to increase market visibility and appeal).
- A small 5% of all raised funds will be used to cover for expenses pertaining to legal support, security, accounting and other related administrative costs.
- The remaining 10% of the budget will be used to create a “reserve” that will cover for any unforeseen expenses that may arise in the future.
Team Behind Rucoin
Luchko Liliya Vasilevna is the company’s Founder as well as its Chief Director. She has over six years of experience within the domain of alliance creation and digital strategies. In addition to this, Luchko has also served as the founder of the Research Institute of Innovative Technologies in Russia. Similarly, Aleksey Aleksandrovich is the company’s Project manager.
In terms of his work experience, he has served as a consultant with various companies that have worked to create digital systems pertaining to “transparent analytics”. Additionally, he also has more than “3 years of work experience in domains such Middleware, SOLIDITY, Blockchain”.
Lastly, Serechenko Alfiya Khamitovna is the company’s Financial director and has described herself as an “entrepreneur in the field of legal review/ financial technologies”. Lastly, she is also a director of the ASK Project.