This is a sponsored guide and does not represent investment advice from CryptoCompare. Please do your due diligence when dealing with any Initial Coin Offering and never invest more than what you can afford to lose.
One of the most significant innovations of the last decade is undoubtedly the blockchain, notably Ethereum, the protocol supporting the smart contracts and the crypto-currencies. The blockchain is revolutionary as it allows transactions to be made between peers, without requiring that they trust each other or any third party to play the role of arbiter. This technology is perfectly suited to create trust and encourage members of the same ecosystem to act for the greater good.
Introduction to Sandblock
Today, the whole relationship between businesses and customers is unbalanced, and it harms both sides.
Business are spending tremendous amounts of money in Marketing but they often fail to significantly improve the loyalty of their customers, let alone measuring the ROI of their Loyalty Programs.
On the other hand, customers have too many loyalty cards in hand: they are not using them in most cases and when they do, they wonder what’s being done with their data.
How does Sandblock work?
Sandblock is based on a decentralised protocol on the Ethereum Blockchain, the Satisfaction Protocol, to ensure that all stakeholders can benefit from a global loyalty system, and to prevent that any centralized actor concentrates too much control and thus biases the system to their advantage.
Sandblock creates the SATs, the underlying tokens for any Merchant Partner who wishes to use the Satisfaction Protocol to create their own cryptocurrency - the Merchant Tokens, in order to properly reward their customers for their engagement. The Merchant Tokens are initiated when businesses are purchasing Satisfaction Token. The Merchants that are part of the Sandblock ecosystem then decide the type of marketing programs they wish to offer to their clients : free tokens for returning customers, airdrops, in App games featuring their products.
Users of the Sandblock apps and customers from any brand belonging to the ecosystem then have the following opportunities when making a purchase to a merchant using the Satisfaction Protocol:
- Pay using cryptocurrencies: they can use Ether, Bitcoin or other cryptocurrencies to make purchases and automatically get rewarded with Merchant Tokens. Each following purchase is taken into account, and the customer’s loyalty gets rewarded with Merchant Tokens.
- Verified feedback: the customer gets the opportunity to rate and comment the business’ customer experience, or even fill in a survey sent by the Merchant and gets rewarded with Merchant Tokens.
The Sandblock Marketplace
Customers are no longer stuck with points of a shop that may have closed, or from the previous city they moved from: enjoy easy to use and tradable loyalty points. Each time you participate in a Merchant loyalty program, the Branded Tokens you get can be used to buy good or services from another Merchant belonging to the ecosystem. The mechanism of exchange between Branded Tokens is decentralized, there is not volatility between Branded Tokens and the Sandblock mobile application provides a fast, secure and handy access to this marketplace.
About the Tokens
The SAT is an ERC20 tradable token, have a limited supply created during the public crowd sale.
The Branded Tokens are pegged into the Satisfaction Tokens. The Merchants get to chose what is the rate between their tokens and the SAT when they enrol in the ecosystem.
SAT is tradable within public exchanges, but Branded Tokens are only tradable on the private Sandblock Marketplace. The goal is for loyal customers to get to discover small brands in their neighbourhood, redeem them for goods and services within the ecosystem and just use their earned coins as they see fit.
Satisfaction Tokens (SATs) will be created during the crowdsale. There is a total of 55 million Satisfactions Tokens with 50% of them (27.5 million) for sale during the Token Generation Event. During each phase of the Token Generation Event, all unsold tokens will be burnt after the event ends. Once the crowdsale finishes, the maximum supply of Satisfaction Tokens will be fixed.
The crowdsale is designed to have 50% of the token sold publicly during the sale period, while 8% are allocated to bounty campaigns dedicated to the community members who will engage with us to create a better project and help us spread the word about Sandblock. Also, 12% of the tokens will be allocated to team members and future team bonuses to align our incentives with all the contributors, create the best services and products possible and increase worldwide awareness about the project. A portion of all the tokens will be dedicated to early business adoption as an incentive to join the network. This portion represents 30% (thirty percent) of the tokens created during the Token Generation Event and will be gradually distributed to businesses following the set of rules specified on the Sandblock website and blog.
All the funds raised through the crowdsale process will be dedicated to the development of the Sandblock ecosystem. The different budget allocations will be allocated to Marketing and Communication, Sales and Partnership, Development and Operations.
- Cryptocurrency Tokens vs Coins: What's the Difference?
- Stellar - Move Money Across Borders Quickly, Reliably, And For Fractions Of A Penny.
- Cool Cousin - Tourism is old, let's travel!
- Proof of Work (PoW) vs. Proof of Stake
- What Is A Blockchain?
- How Does Facebook's Libra Blockchain Work?
- What is Shping?