Jalan Sukses: Universal Reward Protocol (URP): An Innovative Rewarding System

If you’ve been living in any corner of this planet for the last couple of years, then chances are you are already familiar with the blockchain technology. In general, this technology comprises of encrypted bulks of data that are linked to one another, and they’re called blocks. Put enough blocks together, and you get a chain; ta-da!

Now, according to experts from all around the world, the said technology has a plethora of innovative applications that are still left to be explored. Currently, the fields that this tech is being used the most are data security, transparency, and cryptocurrencies.

The Universal Reward Protocol (URP) platform, however, seems to have found a new kind of use for blockchain technology.

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Universal Reward Protocol is a blockchain-based protocol where retailers can reward shoppers for multiple behaviors like simply visiting the store. By accepting to share their shopping data with the network, a shopper earns reward tokens, while the data is used by retailers to build redemption offers that best suit each customer’s needs.

Universal Reward Protocol provides a blockchain-based ecosystem where shoppers regain full control of their data while receiving personalized offers made by retailers. The shopper is rewarded with URP tokens for sharing his data with retailers. He can share the fact that he visited a point of sale, his geolocation indoor, his purchases, etc. Retailers can retrieve their URP tokens by making personalized offers based on the data the shopper decided to share with them. Universal Reward Protocol also creats a digital wallet that allows shoppers to query the loyalty network for rewards and redemption contracts, check the balance of their wallet in URP tokens and edit their privacy settings.

In this Protocol to reward in-store activity using the IoT and AI technology build and installed with some of the largest retailers worldwide. Shoppers can finally enjoy all the benefits of a fully customized, omni-channel customer universal reward program, portable across all their favorite retailers. All with each customer’s privacy as a priority, and with the full transparency of blockchain technology.

Universal Reward Protocol redefines the rewarding system with some innovative concepts. It provides several core features including:

Reward Smart Contract

Each reward operation will be handled by a Reward Smart Contract. Retailers can create new reward campaigns by filling the Reward Smart Contract form.For example, retailers can reward a shopper for visiting one of their stores twice in the same week. IoT sensors can act as an oracle to certify the transaction.

Universal Digital Wallet

A digital wallet that allows shoppers to query the loyalty network for rewards and redemption contracts at any time, check the balance of their wallet in URP tokens and edit their privacy settings.

Retailers redeem tokens

URP tokens can be exchanged for goods and services, coupons, and improved shopper experience with all retailers in the network. These redemption offers are tailored to match each shopper’s needs and desires using the data they chose to share with the network.

IoT sensor

IoT sensors powered by Occi using geolocation technology, already covering more than 100,000 square meters of top retailers space, publish the data securely on the blockchain. They are deployed inside a mesh network to make setup simpler and the data capture more robust.

Distributed Data Storage

Shoppers give consent to each data capture to guarantee data transparency. Sensitive receipt data is isolated between retailers, while navigation data is publicly available to all nodes.

Neural Net

All data is fed to our deep-learning layer for further profiling and analysis, allowing the deployment of custom redemption offers tailored to individual needs.