Shopping Rebates on Blockchain

With the advent of the Internet, e-commerce has been advancing by leaps and bounds. Online shopping has now become an indispensable part of our life. Not only the competition between major e-commerce platforms is becoming intense, the competition between merchants is also growing increasingly fierce. In order to increase sales, many merchants offer rebate promotions. Consumers are dazzled by these campaigns and do not know which one to choose. Some shopping rebate platforms rise in response to such conditions and make consumers choose in one platform without being overwhelmed by numerous activities. Through the cooperation with shopping rebate platforms, merchants increase sales while saving publicity costs. Because of the convenience provided to both merchants and consumers, shopping rebate platforms becomes a hit and have sprung up in recent years. But there’re also people with ulterior motives, some shopping rebate platforms make it difficult to cash in after a long delay, or use shopping coupons and points instead to raise the bar, or even play tricks with price, make rebate more expensive than not.

Faced with such chaos, VDS built the shopping rebate platform on the blockchain and brought forward the Blockchain Business Contracts, hoping to resolve the chaos in a decentralized way.

Blockchain Business Contracts are the unique smart contract system within VDS. Suppliers all over the globe can register their receiving address for payment on the VDS Chain, set smart contract commission ratios, and activate blockchain business contracts. With Blockchain Business Contracts, every participant voluntarily become a promoter, complete the promotion in their own Trust Stamp system and get corresponding commissions. The Trust Stamp relies on the blockchain technology to assign value to the interpersonal network and make it trustworthy. In addition to the continuous flow of income, it can also guarantee the trustworthiness and rapid promotion of sales. This enables high-quality products to stand out based on the consumers’ needs, and the reasonable distribution mechanism also establish a more organic business pattern between producers, promoters and consumers.

VID users in the Trust Stamp Network make purchase through merchants that have activated a Blockchain Business Contract, then the 12 directly-connected VIDs above this VID in the Trust Stamp System all receive the merchant’s Blockchain Business Contract commission. Not only can this VID get profits, he can also distribute commission among more inviters in the Trust Stamp system. Commission drives the enthusiasm of participants effectively. In order to get more rebates, more people will engage in the promotion of product actively, and with the increase in sales, there will be a higher commission amount. For merchants, it is equivalent to obtaining a huge number and a wide range of sales team through “rebate”, more merchants will be tempted to join. VDS has set up a new pattern for the commercial application of blockchain.

The mechanism of the Trust Stamp expands VDS’s user group and allows every participant to establish sustainable cash flow with the development of ecology, which is a mutually reinforcing win-win relationship and conducive to the formation of decentralized consensus. Blockchain Business Contracts add a commercial system on this basis, so that everyone could have their own blockchain consensus sales network.

Based on smart contracts and backed by the Trust Stamp, VDS Blockchain Business Contracts constitute a decentralized model of commerce by implanting them into each VID and the interpersonal relationships under its Trust Stamp System. Any merchant can activate Bloockchain Business Contracts under decentralized conditions, stimulate promotion initiatives on every user via the multi-level interpersonal relationship established within blockchain and promote sales of goods. Everyone gets continuous incomes and able to set up their own decentralized business circle through Blockchain Business Contracts and the Trust Stamp System. VDS will lead global business model of the future in a decentralized way and start the chapter of new era.