back
Introducing Universal Reward Protocol
admin admin | April 26, 2018
A blockchain-based protocol where retailers reward shoppers for sharing their behavioral data

While online retailers have leveraged data collection to thrive, physical retailers have lost steam in the race to understanding their shoppers’ preferences. Retailers have hence directed their strategy towards achieving omnicanality, to engage with their shoppers both online and offline.

In a world where brick-and-mortar still accounts for 90% of all retail sales [1], we believe the myriad of offline shopping behaviors represents an untapped source of valuable insights. Meanwhile, in light of recent events, we are convinced individuals deserve transparency as far as their personal data is concerned.

We thus envision a world where shoppers can hand-pick which behavior, whether online or offline, they want to share with retailers to get a more personalized experience.

That’s why we are building Universal Reward Protocol, a blockchain-based protocol where retailers reward shoppers for interacting with them and sharing their behavioral data.

How does Universal Reward Protocol work ?

Universal Reward Protocol is a blockchain-based protocol that serves as the overarching infrastructure for decentralized applications (dApps) that analyze shopping behavior. Using smart contracts, retailers define behavioral conditions to be fulfilled by shoppers to earn a reward : the Proof-of-Behavior (PoB). Each dApp on URP defines a set of behaviors it is able to certify by producing PoB.

Upon presentation of the PoB to the smart contract, the shopper is rewarded and receives tokens. The collected data is then sent to retailers to tailor personalized and exclusive offers to shoppers. Finally, shoppers can redeem earned tokens through these deals.

Existing dApp

An existing dApp called Occi will be integrated with Universal Reward Protocol. Occi can produce Proof-of-Behavior regarding in-store activity, using a combination of IoT and AI technologies. This solution has been deployed among top retailers, such as Carrefour, Auchan and Galeries Lafayette, and covers more than 100,000 square meters of retail floor.

Leadership team

Universal Reward Protocol was founded by two alumni from Ecole Polytechnique (Leading French Engineering School) and UC Berkeley. Thomas Wolf, former CEO France and Regional Director Europe of Catalina Marketing, joined Universal Reward Protocol as Chief Operating Officer. The team is quickly growing and has recruited top talents from the retail, blockchain and financial sectors.

Over the next couple of weeks we’ll share some more information with our community.

Here is where you can keep up with our latest developments :

➤ Join our Telegram Group

➤ Follow us on Twitter

➤ Go to our Website and subscribe to our newsletter

[1] US Census Bureau : https://www.census.gov/retail/index.html#ecommerce

Share