A great day to all of you guys! It is me again, your crypto blogger that talks about promising ICOs and projects by our blockchain developers and Internet of Things experts in this field. I, for one, is also an artificial intelligence developer.
Now, let me talk about and review the URP or the Universal Rewards Protocol. All people love to have rewards in any form or another. Whether it be loyalty rewards, promos, and discounts, people loved it. It is like gratifying or rebating the customers with rewards for being loyal with them and buying their products.
In these days, data analytics and consumer behavior are being bought by companies to track people's product consuming whether it be every day or weekly or monthly up until yearly. It tracks the purchases of consumers to know what products were to be more profitable and have more supply of it for the increasing demand. Most people don't want to share those data because who would want their precious online data be get by these companies for free?
This is where URP comes in as well. This is the new generation rewards platform protocol. It is called a protocol because it incorporates the Internet of things IoT type of rewards platform plus the protocols of different rules and algorithm from the merchants and smart contracts from the internetwork. It could be multinational with worldwide channels. The internet runs in protocols as well as the IP addresses that we are already familiar with and the IMEI of every mobile phone has a protocol that the URP will use to distribute rewards and make it available for those who will be using the platform.
Now, let me talk to you how it works in the URP platform:
1. Shoppers earn URP tokens by shopping--> In this type of scenario, the participating merchant and the URP user goes to their favorite participating merchant and after purchasing something from them, a shopper will automatically earn URP tokens by sharing their purchases history and other data online.
2. Retailers earn and redeem URP--> This participating merchant have their Point-of-sales being installed with a dApp or decentralized app running in the smart contract of Ethereum blockchain wherein it could track the sales and the Internet-of-things sensor that could cope with 100,000 square meter diameter. Merchants can setup offers and promos for rewards in URP by having it synced with the mesh network of the URP platform. It will be a win-win situation for the merchants and consumers. All will be happy!
3. Redeeming of URP tokens and transparency--> These tradeable tokens can be seen in the Ethereum blockchain, therefore, it is immutable and so transparent when it comes to the rewards and funds being sent and received by and who made it. With this solution, big companies will be able to track and consumers will also receive compensation
As you can see, this is very engaging for the consumers worldwide. Being able to have rebates and rewards that could be converted to other cryptocurrencies, it would be having massive adoption in the cryptocurrency space.
**Proof-of-behavior**--> This is the so-called Proof of work for URP. Going into the merchants and be able to give your data to the blockchain's URP platform, it will trigger the rewards program being able to be tracked and given to your specific address. It will be tracked via a decentralized app in mobile and for sure will be in the desktop as well and point of sales.
The URP has a Universal digital wallet as well to track your rewards and be in the blockchain. Wherein for sure, they will develop it to be a multi-currency wallet.
The URP has so many partners. Some of it is here:
For a summary, I am very positive with this project and rating it with a 9.6/10 stars.
For more information about them, here is their team:
For other information about them online, here is their social media accounts and website plus their ICO details:
Website: https://rewardprotocol.com/
one-pager: https://rewardprotocol.com/wp-content/uploads/Onepager.pdf
ICO and token metrics: https://rewardprotocol.com/wp-content/uploads/Token_Metrics_One_Pager-1.pdf
Light-paper: https://rewardprotocol.com/wp-content/uploads/Lightpaper.pdf
White paper: https://rewardprotocol.com/wp-content/uploads/Whitepaper.pdf
That's it guys! I hope you learned another promising project and opportunity! Thanks for reading my review and article.
Bounty0x username: frankydoodle
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