Retailers
Last updated
Last updated
Retailers want to drive sales and retain existing customers. They have many choices on how to do so. Every one of these solutions costs Retailers money in terms of infrastructure, staff training or discounting. The $VOW tokenomic model provides a brand new, holistic model for incentivizing large numbers of End Users to purchase goods and services, without any infrastructure investment, staff training or discounting. It guarantees to saves Retailers a minimum of 50% (and up to 100%) of the costs associated with any other type of incentive scheme.
Whilst the tokenomic model itself will be examined extensively in the rest of this document, and the cost savings alone of implementing such a model attract Retailers, small and large, to participate in the $VOW ecosystem, many other benefits are provided to Retailers by the $VOW ecosystem.
One card only generates one payment transaction, and therefore should only generate one reward, but a lack of clear attribution for payment linked rewards currently results in Retailers paying out multiple times on many transactions, depleting their ROI and creating a strong resistance to participating in multiple Reward Programmes. Enigmatic Smile solves this very real concern for Retailers with its Single.id service. Because it operates as a cross reward programme identifier for every individual and their payment cards, as a network effect kicks in, through Single.id, the $VOW ecosystem establishes itself as a provider of End User identity across the entire retail space – something no other competing system has achieved.
This single identity ascertained and deduced from multiple sources becomes a huge value in itself.
As AI evolves determining identity of an individual is perhaps one of the most important things we must find a solution for. From online reviews to social media sites, we can all easily understand the value of a holistic, decentralized identity solution. The solution which MVDs bring to the $VOW ecosystem, in this regard are game-changing. Although the decentralization of user identity has not been fully achieved at this point, it is absolutely incumbent upon developers in the $VOW ecosystem to realise this medium-term goal.
Find out more about https://single.id
