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Pre-Proposal Dash & Rewards.com Retail Payment/Loyalty Solution

Discussion in 'Pre + Budget Proposal Discussions' started by Linda Butcher, Aug 3, 2018.

  1. Linda Butcher

    Linda Butcher New Member

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    Rewards.com intends to submit a proposal to Dash Central next week. We would appreciate any feedback you can provide. Thank you


    Proposal

    This proposal outlines the development and marketing path of our Dash payment and Rewards loyalty retail solution. It is an exclusive development and marketing initiative with Dash.

    Our solution allows consumers (on a global scale) to make retail purchases with Dash while simultaneously earning RWRD tokens as an additional incentive. With our supporting mobile application, customers will be able to pay with Dash at the point of sale online or in-stores. This solution will take Dash closer to mainstream use.

    For 15 years the Rewards Team has successfully managed complex loyalty programs for major corporations: Bank of America, Amex, American Airlines, IHG, Marriott, Caesars, Sony, and more. Alongside a wealth of experience, Rewards also brings carefully developed relationships with most of the major merchants in every market. Merchants like Walmart, HomeDepot, Kohl’s, Macy’s, Staples, and thousands of others . All of which can be leveraged to further the widespread utilization of our Dash/Rewards solution.

    The Retail Application Video




    Join our live AMA with Rewards.com CEO, Todd Rowan

    Our CEO Todd Rowan will be answering questions live during our AMA Wednesday.
    Feel free to shoot us any questions you might have in advance and we will answer them on the call.
    upload_2018-8-3_15-56-7.png
    Join the AMA by clicking here https://rewards.clickmeeting.com/ama-dash-network-rewards-com

    Why should the Dash Network approve out proposal?

    Rewards.com is giving Dash a real world use case for its digital currency. As an accepted form of payment Dash transaction volume will explode.

    Rewards is serious about its partnership with Dash.
    1. Rewards.com is funding the marketing and promotion of Dash to the Rewards community which is 250K strong.
    2. Rewards.com is currently funding the offer of $10 in Dash for anyone making a purchase on Rewards.com
    3. Rewards.com is funding the marketing of Dash at Nascar.
    4. Rewards.com will be targeting customers retargeting and email.

    upload_2018-8-3_11-34-5.png upload_2018-8-3_11-34-41.png


    Our partnership and vision with Co-founder & CMO, Linda Butcher



    Proposed Funding Request
    250 Dash to be paid out each month for 3 months. (750 Total)


    Our documented volume

    upload_2018-8-3_11-39-2.png

    Development Outline

    We want to create a seamless experience for the customer and remove the preconceived notions about crypto being complicated to use. We are building an eco-system to empower our merchants to accept DASH as a payment across all platforms as a self-contained, embeddable widget. We are also creating a corresponding mobile wallet in our eco-system to allow consumers to pay with DASH and earn RWRD tokens as an incentive.

    At a fundamental level, a customer can make transactions, buy more DASH, or redeem their RWRD tokens with any of the registered merchants.

    When the balance is totaled, our API is called and specific transaction data is stored to the DB. If it passes the check, the request returns back a key to generate a transaction QR.

    The user is able to scan the QR using their Mobile App, allowing them to synchronize, validate, and approve the transaction.

    A confirmation variable is passed to the page giving the user visual confirmation of the completion of their transaction.

    Technical Overview:

    The breakdown of each of these elements is listed below:

    1) Mobile App (Client Side)
    a. User Registration
    b. Buy DASH / Receive DASH, Earn RWRD
    c. View Account Balances
    d. End to End (E2E) Encryption (Scan with device to Sign In anywhere)
    e. Transaction Scanner
    2) API (Processing API)
    a. Block Explorer
    b. Sends Transaction data to DB and returns a unique key to validate
    c. Restful calls to read data from DB
    d. Verifies funds transferred for transaction
    3) Merchant API (Server Side)
    a. Self-contained embeddable script to embed portal on web page
    b. QR generator
    c. Encapsulates transaction data and makes RESTful calls to API
    d. Easy to integrate into a web page with minimal setup
    4) Back End Management:
    a. Database: Stores transactional data and user data
    b. Private keys are managed
    c. TLS (Transport Layer Security)
    d. Buffer Settlement Wallet
    Operational Flow:

    1) Transaction Request: Customer Requests transaction from Merchant
    · Merchant totals items, and registers a transaction to database
    · API is called containing value of transaction and transaction hash
    · API returns data and QR code is generated containing the transaction information containing price, merchant, and reference pointers to transaction hash
    · RWRD earning potential calculated and displayed
    2) Synchronization: Customer syncs to merchant Transaction
    · Customer Scans QR from their mobile device using the Mobile app
    · The following Wallet Data gets synchronized to the transaction:
    o Merchant ID, Customer ID
    o Merchant Settlement Wallet Address
    o Transaction Value + RWRD earnings
    o Mnemonic matching pair
    · Customer views transaction on mobile device with details
    3) Confirmation: Transaction is stored, validated, and approved
    · User Decision: Customer makes final decision
    o User views transaction details and approves/ rejects request for funds
    o User double checks the mnemonic keyword displayed at the POS/ Website portal
    o Approve/Reject:
    1. Approved: Funds are transferred from user wallet and into a settlement wallet acting as a buffer for the transaction
    2. Rejected: No further action is taken, no gas fees
    · Transfer funds in DASH from user wallet to settlement wallet
    · POST Transaction hash & Block Number to database
    · Settlement wallet gets checked for matching DASH value
    · Transaction confirmation is provided to the merchant
    4) Consolidation:
    · Settlement:
    o Rewards settles with merchant in Fiat currency through existing processes nightly
    o Rewards tokens are held for the consolidation period to allow for any returns that may be made.
    · Refund Cycle:
    o Merchant will refund the fiat value, that will be converted back to DASH based on the DASH value at the time of transaction.
    o Flow:
    1. Pays with Dash
    a. Rewards settles with merchant at the current rate of DASH to fiat
    b. All purchases and returns are represented in fiat, and is converted into or out of DASH at the time of transaction
    2. User returns product
    a. Merchant accesses transaction data
    b. Merchant submits transaction to Rewards
    c. Rewards converts refund amount to DASH based on current price
    d. Calculated DASH amount is refunded to the user


    upload_2018-8-3_11-56-10.png

    Who is Rewards.com
    Rewards.com is introducing a global marketplace that brings together over 100,000,000 products and 7,000 merchants, including restaurants, travel, entertainment and retail. This marketplace will allow customers to earn and redeem, what we call RWRD tokens, at any participating merchant or be traded on the exchanges. We believe this solution will transform loyalty by taking cryptocurrency mainstream, building a healthy and strong token economy and restoring true value to the consumer reward.

    We are an established leader in consumer loyalty and rewards marketing. Our team has 15 years’ experience running shopping programs for Amex, Bank of America, Sony, TD, Marriott, American Airlines and more.

    Thank you for viewing. We await your feedback and look forward to furthering Dash and the global use of cryptocurrency.
     

    Attached Files:

    #1 Linda Butcher, Aug 3, 2018
    Last edited: Aug 3, 2018
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  2. Arthyron

    Arthyron Active Member
    Masternode Owner/Operator Moderator

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    @Linda Butcher -- Thank you for submitting your pre-proposal. I've personally used Rewards.com and found it to be very easy to set up and use. It's really a no-brainer when it comes to making online purchases, and the fact that you're opening it up to on-site purchases as well is very interesting. I've always scoffed at rewards and loyalty programs as just a gimmick, but your service seems to actually make these worthwhile, especially for those of us who would like to see the use of cryptocurrencies become mainstream. Your product saved me money on some purchases and rewarded me with Dash to boot, fantastic service.

    All in all, after reviewing your proposal and its terms, I think it's a very reasonable, very beneficial arrangement. For what you're offering, the budget for an integration at this level seems reasonable, and I've already experienced your service as being reliable, so I have no reservations about your ability to pull this off. Sadly, due to market downturn and the increased costs and scope of operation from Dash Core Group, much of our monthly treasury budget will likely be allocated to maintaining their operations leaving very little for the other projects operating in the ecosystem, which means that competition for this funding will be very fierce. I do think your project brings a lot of value to the ecosystem, but there are a lot of other very sensitive projects well-underway that critically need funding this budget cycle that have a lot of loyalty and clout already built up, so the likelihood of your proposal passing this month--as sensible and beneficial as it is, sadly--seems highly unlikely. Theoretically, Dash Core Group's budget requests should be reduced in the coming months after they've built up a sufficient buffer and have reduced their tax liabilities under their new budget strategies, which should free up a great deal of the treasury moving forward, and of course there's always the chance of a market upturn freeing up more room in the budget, but for now it's just going to be incredibly tough to squeeze your project in when there already so many great projects going unfunded or underfunded. If one or both of those circumstances change, I can foresee this being a very successful project!
     
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  3. dASHBREAKER

    dASHBREAKER Member

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    Where may I find the TOS for Rewards.com?

    Does Rewards.com share consumer information with 3rd parties?
     
  4. RobbyDash01

    RobbyDash01 New Member

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    This is going to open up a ton of Dash merchant acceptance and its a major on ramp to buying Dash. This has far more value than most of the proposals on the table now.

    It sounds like Core has already worked out a partnership to be the underlying cryptocurrency used on the rewards platform.

    I can see there is already large interest in the rewards ICO. It is a fantastic use case for cryptocurrency. I see incredible potential here.

    For only 250 Dash we can make this happen, even with the tight budget.
     
  5. Linda Butcher

    Linda Butcher New Member

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    We certainly consider Dash one of our long term partners. I think there is time and we will do what we can to promote Dash until things turn around. We are promoting Dash with our Nascar this weekend in Michigan. And as you know we already have the offer going to give $10 additional Dash for people who make purchases.
     
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  6. Linda Butcher

    Linda Butcher New Member

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    Rewards is an established business and used to give cashback for purchases made through the site. My CEO and myself believe strongly that loyalty points will totally transition to crypto in the next few years. Not only does the "point" now have value in the form of crypto, but the blockchain allows us to give total consumer control to the consumer to manager their own data. So now we don't share your data and soon you will have total control over how your data gets used.

    T & C are on the site. They will also be updated when our blockchain launches.
     
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  7. Unstoppable

    Unstoppable Member
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    The budget is very tight in this cycle, please consider holding off until the next cycle, but wait until after Core has posted theirs. They will likely post theirs quickly.
     
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  8. TYLERDELARM

    TYLERDELARM New Member

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    This is a good proposal. Better than most I've read.
     
  9. pramod kumar

    pramod kumar New Member

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    Great proposal.Spending Dash to shop is awesome.
     
  10. Godan

    Godan New Member

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    Dash and Rewards makes a very flexible buying format.
     
  11. LegoB0ss

    LegoB0ss New Member

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    Really interesting concept! How is it able to pay anywhere? Will there be any hardware requirements for merchants?
     
  12. dASHBREAKER

    dASHBREAKER Member

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    These statements are speculation presented as fact. Please make it clear they represent a best-case scenario aligned with your good intentions, not metaphysical certainty, because @TaoOfSatoshi is very strict about moderating such careless language (yes, even in Proposals which by their speculative and sales-pitch nature necessitate narratives of optimistic assertions).
     
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  13. Linda Butcher

    Linda Butcher New Member

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