Assemble Protocol (A Blockchain Solution to the Reward Point Market Issues)

Introduction to Assemble Protocol

Assemble protocol is a blockchain powered reward point system technology start-up, designed consisting Enterprises, Consumers and Retailers. This start-up team came across issues that are linked to the general global reward point system, particularly issues like the lack of locations where customers can restore their earned points into a physical valuable, this issue is globally and it’s adversely affecting the fast growth of the industry.

A lot of Enterprises such as airlines companies, departmental stores and credit card companies are into this system. That is they embrace a reward point program for their customers in order to increase their sales profits and to attract new customers.

Research on Reward Point Systems

A Japanese based research group of company called Yano has proven and estimated that the Korean reward point market is worth about 20 billion USD, while the global reward point market is estimated to be currently worth over 200 billion USD. This is quite a huge market with a lot of more growth potentials.

Companies and enterprises introduced a reward point program for the purpose of increasing their sales. The processes in this program need a lot of improvements because customers have no benefit to take advantage of their reward points. Assemble Protocol startup team inspires to build a business atmosphere for the benefits of three major stakeholders which includes; Enterprises, Retailers and Consumers, based on the bellow identified problems.

• Reward points that customers have earned are distributed across different programs which in turn complicates the management of their rewarded points.
• Points being given to customers are kept as a liability on the enterprises side.
• Points are given to customers with specific valid dates which lead to disagreement between companies and their customers.
• Customers have less option to redeem their points within a given valid date which is seen as dissatisfaction by customers.

The Assemble protocol startup team came up with some possible solution to the issues they identified, these include;

• Sufficient number of redemption platforms should be made available to customers to enable them conveniently exchange their accumulated reward point liabilities. This idea will attract a lot of new potential customers.
• Limitations such as validity date should not be placed on earned reward points. Customers should have more advantage to use their points at any time and on any platform.
• Conventional marketing tools and techniques should be introduced to retailers as this will very much improve their sales and profits potentials.

Assemble Protocol Start-up Aim

Based on the identified issues associated with the global reward point system and their possible solution that the Assemble Protocol’s start-up team introduced, the team thus has a clear aim that they seek to achieve. The aims are stated below!

• To build an ecosystem that will ensure and motivate enterprises to easily increase the number of reward point’s redemption platforms. This will allow customers to have a wide option list as it will also certainly attract new customers.
• To build a system that completely discourage companies and enterprises from placing any form of limitations on customers earned reward points. Companies will be encouraged to introduce new and flexible reward point utilization techniques.
• To build a system that is properly equipped with tools that will effectively influence the business of enterprises and companies by attracting many and loyal customers to their respective products.

Why the Start-up Decided on Utilizing Blockchain Technology

The team introduced blockchain technology into their idea in order to fully utilize the usage of digital assets (cryptocurrency). By this, the team intend that companies and enterprises can utilize their technology to tokenize their reward points. This will lead to a drastic reduction in companies cost of security for reward points.

With the integration of blockchain, the team is looking at a global expansion because the technology is designed to provide services across the world. Thus affecting the positive expansion of companies and enterprises to a global level with customers from everywhere around the world.

The team will utilize blockchain technology to integrate reward points network from different global partners into a single network which speed up transfer time and utilization flexibility.

With blockchain being immutable, all companies and customers transactions are permanently recorded in blockchain to prevent forging and falsification.

Assemble Protocol’s Project Partnerships

Assemble protocol project has a key partnership with some popular technology companies which includes but not limited to STA1.COM, YWmobile and CLUBPASS.

Assemble Protocol's Team

Roadmap

Conclusion

Assemble Protocol’s start-up has a demanding solution to global challenges that are plaguing the reward point market. Considering the positives that have been recorded with the advancement in blockchain and cryptocurrency technology, companies and enterprises will in no time begin to look into utilizing the opportunity that the Assemble Protocol project have brought for their business. I’m certain that the future will be bright for this project and all it partners as everyone will stand to benefit immensely.

Official Project Resources

Website
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Publishers Details
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