高盛擬推出比特幣等數字貨幣交易業務
十月 3, 2017
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十月 6, 2017

【HK Token Sale Interview】 Gatcoin – The biggest marketing innovation since the invention of points

Bitcoin.hk spoke with Simon Cheong, the founders of Gatcoin.io, which gives retailers the unprecedented power to bring customers into stores with geo-targeted cryptocurrency rewards. The press is calling Gatcoin the biggest marketing innovation since the invention of points.

 

What kind of problem, market deficiency or opportunity inspired you to launch your project, and how will your project address this? 

Like a lot of marketing expense, loyalty programmes see a huge amount of spend wasted. Programs demand time, money and technology to be designed, implemented, and maintained. But they often don’t achieve their objectives. Customers sign up for programmes and never use them – and that means customers who don’t come back. Data collection is uneven at best. These are all opportunities lost and money down the drain. Retailers want people to engage with their loyalty programmes – and that is what GATCOIN delivers.
 

How will your project address this problem, market deficiency or opportunity in a unique way? 

 

 

Acquiring customers is one thing. Keeping them is another. For acquisition, our unique AirDrop (also known as A-Drop) technology will create super-targeted mobile advertising making use of social media draw crowds of people into stores, online and into new loyalty programmes buy essentially giving away money. They are asking people to sign up for blockchain supported loyalty programmes supported by branded cryptocurrencies.

 

For keeping people, GATCOIN will make points more valuable than ever. The GATCOIN exchange will allow people to make use of those points with the retailer – or exchange them for other loyalty points or even cash. No one has ever done anything close to this.

For consumers, every loyalty point will have value. None will be wasted. For retailers, points distributed only cost them when the points are redeemed – and that means a customer in the store (or online) who can be upsold and engaged in a meaningful way. Also, the data generated will tell retailers what people truly value and how they truly behave.

How do you think the competition will develop in this segment of the market following your ICO?

 

Once the huge success of this model becomes apparent, imitators will no doubt spring up. However, they will lack two key components. Our AirDrop technology is going to be very difficult to replicate. Second, transaction speed is hugely important for this type of system to work. One of our key team members is Tsai Wei-Tek, Emeritus Professor at Arizona State University, Tempe, Arizona, USA.and a leading global computer engineer, who is designing our proprietary, blockchain servers that, in testing, are matching speeds seen by other major financial services providers. Legally and technically, any imitator is going to run into these two huge roadblocks to trying to replicate our success.

 

I can imagine that cut-rate imitators may offer a pale shadow version of our type of platform, but real retailers who do their homework will quickly understand the gap in technology and business model.

For all those who have read your white paper and are still on the fence about contributing to your ICO, what can you tell them that could lead them to buy into your project?

Two things: Think about how you would react as a consumer if you were offered free loyalty points and the power to make sure that every loyalty point counted (because you could turn it into loyalty points with your favourite retailers).

 

Second, think about how, as a retailer, you would react if I could design a system where you could Pokemon-Go style draw people into your stores? And if you knew that every loyalty point you distributed would find its way to people who value your product and would redeem them?