In the first part of this article (link), I made mention of Araw being a platform which helps to solve many challenges that face retailers and their customers. With a cutting-edge technology, the Araw token platform will help to solve challenges surrounding online shopping and experiences.
One of the ways retailers encourage customers to patronize them more or increase their interaction with their online shops is through loyalty programs. Loyalty programs are aimed at rewarding customers for purchasing goods and/or services, and helping retailers to gain more reach or sales through referral programs or other popular means. These loyalty programs help consumers to earn reward points and these points can be used as speculated by the retailer. A reward point (as speculated or specified by a retailer or vendor) can be used to enjoy discounts on next purchases with the retailer. The reward points in some cases can also be used to redeem some goods and/or services from the retailer’s online shop.
Through the reward points earned by the customers, a customer can only redeem these points for certain things as retailers offer restrictive rewards. The reward points are actually useless outside the speculation of the retailers and outside the retailer’s online shop. Studies have shown that 76% of online shoppers hold reward points from up to 29 retailers (on the average). Most of these reward points earned cannot be redeemed by the shoppers because the goods to be redeemed are irrelevant to them or they have forgotten since they have too many reward points from different retailers and each reward point is only valid with the retailer that gave them, they are useless elsewhere. These defeats the essence of having reward points. Retailers are also afraid of giving out unrestricted reward points to retailers for they are afraid that their good and/or services will, as a result, be undervalued.
Because of the news that surrounds the cryptocurrency ecosystem, majorly fear, uncertainty and doubt about scams. Not just this, but about people losing all their money because of the unstable market movement (though this is because the victims did not understand how it works), many have lost faith in the blockchain technology so they stay away from it. The cryptocurrency also presently cannot be spent as normal currency, this is one of the greatest advantage of fiat currencies over the cryptocurrency.
Araw Token Platform – Universal Reward System
Through the universal reward system, service providers/retailers become Araw token distributors. A retailer will be able to reward his loyal customers with Araw tokens instead of reward points. These tokens can be used anywhere on the Araw ecosystem to purchase goods and/or services from any retailer that is registered on the platform thus the loyalty program rewards are not restricted as it can actually be spent. These tokens can also be converted to fiat currencies through the Araw mobile wallet.
Anyone who gains tokens as a reward does not necessarily change their shopping behavior. They only get to be a stake owner in the cryptocurrency economy which fulfills the goal of Araw to increase the adoption of the blockchain technology.
Araw brings a deeper and more subtle way for all the world to get involved in the blockchain or cryptocurrency. Despite the fears of many (both retailers and consumers), now everyone can use cryptocurrency from day to day without the fear of losing out. Through the unified reward system, retailers are able to better serve their customers by rewarding them with value without fear of undervaluing their goods and/or services since the reward tokens (Araw tokens) can be redeemed for large variety of goods and/or services not only from the retailer that gave them out but from all service providers on the platform. The customers also get to patronize the retailers more and complete loyalty tasks (as set by the retailers) to give retailers more visibility because they know that the reward can be redeemed anywhere on the platform or converted to fiat currency with the platform wallet. This encouraging and very exciting.
As a shopper, I would rather opt in for a reward system or plan that enable me to gain no just reward point for redeeming restricted goods and/or services but a token with a value
Araw Touch and Pay Card
Araw touch and pay card allows anyone to be able to spend from their cryptocurrency purse (Araw mobile wallet) and the accumulated Araw tokens from all loyalty rewards on the platform. The Araw touch and pay card can be used for day-to-day purchases.
You can also become an early adopter of the cryptocurrency and blockchain technology by investing in the Araw token sale. By now Araw already raised higher than the softcap meaning that they will not close down. Another thing to build investor’s confidence in the project is that the project isn’t a new innovation as they already have a working platform (though centralized but now being built on the blockchain) with many participants.
For further information on Araw, you can read:
Thanks for reading. I am @ayobami99. You can reach me on bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1848386;sa=summary