What is BitRewards?
BitRewards is a blockchain platform and loyalty ecosystem that allows
retailers to reward their customers’ purchases, friend invitations, and
other actions that can be configured with cryptocurrency.
BitRewards is a system of rewards and loyalty blockchain for
e-commerce business. This allows online stores to reward their shoppers
with crypto "BIT" which helps increase sales by an average of 17%. Due
to the unique blockchain and business model, this cutting-edge loyalty
system is offered to businesses for free. Subscribers are rewarded for
their purchase with an Ethereal token that can be redeemed for bidding,
purchasing or shipping to other crypto purses and then used for other
products or services.
BitRewards missionBitRewards
mission is to create a platform of rewards and fidelity that penetrate
online retailers of all shapes and sizes and connect them with their
customers based on BIT tokens.
BitRewards is a decentralized loyalty platform based on artificial
intelligence developed by GIFTD, one of the leaders in loyalty solutions
for electronic commerce.
What is GIFTD ?
GIFTD is a multi-channel loyalty and rewards platform, focussed on
driving sales through incentivising consumers and implementing referral
techniques. With an array of smart algorithms, the system collects
rigorous consumer data allowing for the delivery of precise,
personalised offers and messages. Through a range of plugins and
widgets, GIFTD can drive repeat sales, diversify target markets and
boost consumer loyalty — all of which help e-commerce retailers flourish
in a competitive environment.
BitRewards Network is a loyalty reward system designed on the AI
Blockchain platform, enabling retailers to reward their users with
simplicity and simplicity. Learn about the ICO Network BitRewards
project.
The ultimate goal of BitRewards is to create a platform of rewards and
fidelity that will permeate online retailers of all shapes and sizes and
connect with their customers based on BIT tokens. Customer loyalty is
the primary key for retailers to keep their business. This should be an
effective solution to generate more revenue among existing customers.
That’s why every retailer has his own loyalty system that enables him to
reward customers and some loyalty systems start attracting consumers.
Introducing ICO BitRewards
BitRewards is a new “blockchain loyalty platform” designed to help
retailers reward their customers in an efficient way. This platform
encourages customers to “use loyalty points” for product types, which
can then be used to buy or switch to a wallet.
BitRewards also brings many benefits to retailers, as they get customers
who are satisfied with reward points and become more loyal. Loyalty
programs boost retailers’ revenues by dozens. The store is also
exploited by others from a very positive crypto fan and appreciates the
attention of big business.
Features of ICO BitRewards
Due to the company’s unique business model, reward systems allow
incentives to continue to increase over time. In addition, the rewards
are given in the form of electronic money that is not the core, thus
enabling better customer satisfaction.
Compared to conventional retail systems that cost more than $ 500 per
month, BitRewards BIT will be available for $ 200 per month.
To gain access to its rewards program, BitRewards uses AI-based
predictive systems. This program allows the automatic configuration of
the core system to change its functions based on the needs and needs of
each specific business and its target audience.
BitRewards is compatible with “most e-commerce systems”. These
include platforms like Magento, Shopify, WordPress, and Ecwid. Not only
that, the API is quite easy to use and can easily be integrated into
other e-commerce programs.
BIT Token and Token Sale Information
BIT Token is the internal currency that can be used by the ecosystem
in conducting transactions. For merchants who want to join and connect
with BitRewards must have BIT Token Sale event is held directly by
developer from BitRewards.
BitRewards tokens (BIT) with the ERC20 standard, is the currency used in
all operations in bitrewards ecosystem and BIT prices are set to grow
based on the bitrewards business model with blockchain technology, an
up-to-date system of rewards loyalty that can provide synergy and
confirmation with good blockchain experiments from Deloitte, China Union
Pay, IBM, VISA, MasterCard, and more. By integrating with them
BitRewards crypto-wallet users significantly reduce the money withdraw
commissions, transfers to retailers, or other network participants.with
the Lightning & Raiden system will also allow transactions to be
made instantly. (time of confirmation of ordinary etiquette Transactions
about 60 seconds, and in Lightning)
BitRecommendation is the first of decentralized recommendation system
in the world using blockchain technology for quality and security data
control. Giving valuations to user reputation, Recommendation systems
are an important component of the loyalty system of traders,
BitRecommenders recommendation is Decentralized DMP designed to collect,
store and process retail data using an in-depth learning algorithm.
Quality and security data control are provided by blockchain.Every
merchant is the source of large amounts of data about their buyers. The
application of blockchain technology and the nature of the platform
crowd will allow traders to reach new levels of intelligence and
economic efficiency previously unaffordable for small and medium-sized
businesses.
The Business Strategy BitRecommendations API will be offered to the
majority of participating merchants for free. Platforms operate on the
principle of reciprocity: merchants get BIT tokens for available data
and pay BIT to use API BitRecommendations. Using BIT tokens,
BitRecommend suggestions can offer this state-of-the-art data
recommendation service for valuable, fully cost-free system members.
affter token launch, we will create a decentralized autonomous
organization, BitRewards (DAO). DAO Goals: Run BitRewardsbusiness in the
most efficient way, creating favorable conditions for the application
of BitRewardsplatform by a large number of merchants, create favorable
conditions for BIT price appreciation.
The Decentralized Autonomous Organization (DAO)
The DAO was intended as the ultimate decentralized platform for
businesses and non-profit ventures, but vulnerabilities in its code led
to an attack that syphoned away a third of the investment funds and
prompted Ethereum to take a hard fork to reclaim most of its losses.
This was perhaps the most spectacular hacking of a cryptocurrency, and
it may have made investors wary: However, the “hacker” didn’t break into
the blockchain, but instead exploited known weaknesses and gave it
commands that it followed; blockchains in themselves are inherently
secure.
Scalability and Security: Blockchain’s Twin Concerns
With blockchain being so accessible — on a public network anyone can
become a miner and write transaction information — security has quickly
become a serious consideration.
Blockchain is considered inherently un-hackable, yet scalability
concerns are prompting alternatives in software, updates, and hard forks
that may detract from the inherent security benefits.
Blockchains in their Current State
Currently, blockchains are locked to editing, and can only be updated
by creating a new block that contains the sum of the blocks (record of
transactions before it), and creating a new block requires verification
with a cryptographical puzzle that must be confirmed by every node on
the system. With a public system, every user is accountable to the
others, which inhibits autonomous ownership and access as with
traditional banking.
Hard Fork in Response
Ethereum has already taken a hard fork to recoup its losses after the
$50 million DAO hack. It was impossible to continue with vulnerable
code, and so Ethereum split — took a hard fork — and created two
branches, Ethereum and Ethereum Classic.
However, abandoning the old system in favour of the new and,
hopefully, improved system can never be a long-term response. Faith in
cryptocurrencies will falter, and further forks may happen down the
road.
More Users, More Verification
Hackers and fraudsters have a difficult time infiltrating blockchains.
Changing one block would necessitate the changing of the entire
chain, and blackmailing or bribing one user into accepting invalid code
is redundant with peer-to-peer verification. In this respect,
scalability is beneficial to security, as it introduces more nodes for
verification and longer blockchains to record entries. The downside is
that more nodes mean more verification, which impacts on response time:
not only does this mean longer waiting times, unfeasible when compared
to transactions on other networks such as Visa, it also reduces the
number of blocks can be produced per minute.
51% Attack
As individuals, miners have very little power over the blockchain:
even if one were to attempt to pass an erroneous transaction, the rest
of the miners would fail to ratify it.
However, miners can pool together into collectives, which is more
profitable than working independently, and as a group, they
hypothetically could exert a lot more influence, such as preventing
transactions from being confirmed. Ethereum co-founder Vitalik Buterin
has acknowledged that “selfish mining is profitable starting at 25–33%
hashpower, and 51% censorship attacks are definitely profitable.”
In 2014, one such mining pool, Ghash.io, accounted for 51% of the
network’s block verification, known as hashing power. The group
voluntarily capped itself at 39.99% for the good of the network: after
all, no one will use or invest in a currency that is liable to be taken
over by one entity, contradicting the base principles of the
decentralised exchange.
Scaling up would introduce more users and nodes into the network,
theoretically reducing the chances of one group becoming dominant,
particularly when it so blatantly threatens the platform’s security and
economic viability. The increased profitably of blockchain mining may
continue to attract professional conclaves that have the potential to
exploit the system. Regardless of financial gain, mining may be
exploited for no personal reason other than to disrupt the system.
Proof of Stake
Partly in response to the risks of a 51% attack, and partly because
of the incredible amounts of power it takes to verify one transaction
(it is estimated that in 2020 the energy used for Bitcoin mining and
processing could power Denmark) new and existing currencies are shifting
towards a Proof of Stake method of mining.
Initially, coins were rewarded by Proof of Work as detailed earlier,
whereby the miner that solves the puzzle is verified by other nodes and
paid. Proof of Work is intensely energy consuming due to multiple miners
competing to be the first to solve a block, an issue that will only get
worse as cryptocurrency expands, whereas with Proof of Stake the miner
to validate the transaction is chosen.
A Proof of Stake miner (known as a forger) would have to hold 51% of
the network coins before it could attack the system; apart from the cost
of purchasing them, it would be difficult to source that amount of
currency from other users and financially counter-productive to do so.
Ethereum’s Casper protocol is also an incentive to Proof of Stake
forgers: they “stake” a bet with their coin, and if the validation is
accepted, they are rewarded with an amount proportionate to their stake,
and to counteract malicious validation, the staked coin is slashed if
the output isn’t correct.
Private Blockchains
In response to lagging verification times and preferences for
discretion, more private blockchains within individual businesses are
more likely to emerge. These can limit miners to specific validators,
meaning that there are fewer nodes for a block to be verified by and
therefore quicker processing times.
Attractive to companies that want to retain control over their
transactions alongside faster verification, they bear the cryptographic
security of blockchains with the privacy of more traditional transaction
logs.
However, private blockchains are subject to some of the same pitfalls
of traditional banking that cryptocurrency intended to distance itself
from, namely autonomy. With markedly fewer miners involved in the
validation process, it is much easier for the blockchain to be
compromised via the humans involved, such as blackmail or a deliberate
effort by the company.
Increased Use Will Reveal Issues
The Financial Stability Oversight Council, a collective of U.S.
financial regulators, has already warned that blockchain systems are
potentially vulnerable due to their limited use and that flaws in their
security might not become apparent until they were “deployed at scale.”
With cryptocurrency still needing space to develop and adapt to a
growing user base, more issues will undoubtedly be revealed as the
networks struggle to handle scalability while keeping their processes as
secure as possible.
BitRewardsFoundation Management.
Remuneration to people and organizations that develop new integration for BitRewardss system and increase BIT demand.
Rendering to people and organizations connecting new stores with BitRewards system and thereby increasing BIT demand.
Remuneration for any person and organization which in one way or another
increases BIT demand and thereby increases the BIT price.
With very strong promoters and Advisors, it is able to make presence in almost every relevant Media.
Token Economy is really good with just 0.03 USD per token and with a
hard Cap of only 15 Million the Company has attracted all the rating
agencies to look into this Programme.
The only problem with this company at this point seems to be with the
marketing team. Although being so well rated by many agencies, the team
has not been able to attract followers on Telegram and others social
network. The teams must understand the importance of Hype in this crypto
Market.
Token Symbol: BIT
Platform: Ethereum ERC20
Token Price: 1 BIT = 0.00003472 ETH
Total supply: 2,000,000,000 BIT
BIT Token For Sale: 1,280,000,000 BIT
Accepting: ETH & BTC
Pre ICO Time: January 12, 2018 – March 31, 2018
Softcap: 3,000,000 USD (already reached)
Hardcap: 15,000,000 USD
Country: Singapore
Contribution page:
https://bitrewards.network/
Partner: Priority Token
Roadmap
- Giftd development points based on a loyalty system designed to reward buyers.November 2016 - February 2017 COMPLETE.
- Structuring the concept of Label key usage with tools and awards of
loyalty and crypto-customer development award to the e-commerce
industry, recruitment team. February - October 2017 COMPLETE.
Platform award and fidelity with complete and functional web
applications with kriptowallet retailers and BitRewards users related to
loyalty programs, market expansion, research, customer development,
marketing campaigns in the US. October 2017 - May 2018 CURRENT STAGE.
- Crypto-retail purse and intelligent liquidity management contract. March - June 2018.
- Integration of loyalty system with Raiden Rayo Network and Network (after application of this technology). June - July 2018.
- Mobile app for customers with kripto.key - August 2018.
- Recommended recommendations and Alpha based recommendations
articles based on Alpha, Asian market expansion, research, customer
development, marketing campaigns. July - November, 2018.
- Mobile SDK for merchant.September app - December 2018
- AI integration and automated learning on the BitRewards platform. January - April, 2019
- Cross traffic exchanges between online and offline merchants. April - May 2019
REFERENCES PROGRAM
Get a 4% recommendation bonus on BIT tokens + 1% bonus on BIT tokens if your reference buys more than 1 000 000 BIT.
Token: BIT
Price: 1 BIT = 0,00003472 ETH
Platform: Ethereum
Payment: ETH, BTC
Soft Cap: $ 3,000,000
Hard Cap: 15,000,000 USD
Country: Russia / Russia
Token number: Up to 2 billion
Number of tokens to be sold: Up to 1.28 billion
Start early sales: 25.12.2017
Final ICO: 30/04/2018
Smart Deal Settings: 11/05/2018
Main transactions: T6-T7 / 2018
Token not sold out: all canceled
Capital investment: for product development and global expansion
Price token
1 BIT = 0,00003472 ETH
1 ETH = 28,800 BIT
