An Evaluation of the Raincheck’s Decentralised Platform for e-Commerce

In a world that is exceedingly linked online, shopping was one of the biggest things to take place on the internet. Gone were the days when one had to go to a mall or a shopping district to examine out exactly what was needed. Window-shopping was extensively done to examine out the wide range of products competing with various brands.With the web, a person could sit in the house and search online shops and purchase whatever was needed. This was a transformation in the 90s and has actually continued to date. Yet, recently, merchants are discovering that there is a variation. Their online stores are being searched thoroughly however many of the sales come through their physical stores.The issue emerges from a disconnection between the online and the offline stores. With people becoming more conscious of really looking at, touching and

feeling a product, the online version of shops can not supply that. Shoes, for instance, can be inspected online. Size, shape, color and design can be thoroughly took a look at through a screen, but a buyer will always be anxious about the actual item and would choose to go to a store and wear one to see if it really fits and looks/feels good.Raincheck, Plugging The Space In O2O Online to Offline shopping is a phenomenon that a lot of retailers fail to take advantage of. Raincheck, an O2O platform working given that 2014, helps merchants by bridging the gap between the two worlds. It allows retailers to establish a relationship in between users checking the items online and then going to the shop to really try and buy it. This information becomes important for retailers in developing their item and sales strategy.Along with this, by producing a platform of e-commerce where hundreds of stores can open their online presence, the consumer likewise at east, because he or shedoes not have to go to different sites or use dedicated apps for each brand name. The platform essentially ends up being an online shopping mall with hundreds of brand names in it.At very first look, this may seem similar to another e-commerce site, but Raincheck, with its Raintoken, uses a lot more than conventional online e-commerce platforms.

The O2O capability is what really sets it apart from the others.Loyalty Programs Commitment programs are techniques established by brand names and shops as a way to promote product sales and keep customers. The concept is really easy. Offer points of purchase of services and products, which are redeemable within the store for discount rates and

other offers.However, present loyalty programs are riddled with problems: Stores use too low points against purchases, there is an expiration on the points, a big number of points are had to really utilize them and even purchasers discover no product they would rather utilize the points on. Another significant issue is that every brand

and retailer is utilizing their own reward points, making it harder for the customer to keep track of.Raincheck resolves the problem by allowing brand names on its platform to develop their own commitment programs, but interchangeable against others through its Raintoken. Points collected through purchases on one shop will be redeemable at another.Another element that makes the commitment points of Raincheck and Raintoken is that clients need not use for a different membership or a commitment card. The scheme can be integrated into their existing credit or debit card. This not only implies that the consumers will be free from the worry of carrying membership cards, however also that whenever they purchase from a retailer any loyalty plan or program will be automatically changed in the

sale.For example, if a merchant is providing cashback on purchase of a particular product or time, the consumer can just buy the products using his or her normal bank credit card that is registered on the platform. The cashback offer will be immediately executed and adjusted within the card.This smooth and easy program will make it possible for thousands of clients and retailers to be stress-free from monitoring how many points are built up and whether the points were redeemed through the purchase or not.But Why Blockchain?Raincheck uses blockchain innovation to accomplish its success. The technology has proved time and once again to be extremely reliable and effective. After a cautious factor to consider, the platform decided to utilize the Stellar blockchain network. The reason behind it is that the platform is very scalable and has a very low transactional fee.Issuing its own token, the Raintoken, on

the platform, Raincheck enables users to not only acquire online but likewise redeem loyalty points (or buy)through the token. The tokens ensure that procurements are quickly, low-cost and extremely protected. The average deal time on the platform is

around 5 seconds, compared with the couple of minutes and an hour that other, more bigger blockchain networks take.In the end, it is everything about giving both consumers and merchants chances to conserve loan and time. Raincheck, with its Raintoken, will fit the bill.The post< a rel=nofollow href= data-wpel-link=internal > An Evaluation of the Raincheck’s Decentralised Platform for e-Commerce appeared initially on TechBullion.

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