Several decades ago, the concept of online retailing would have been considered as no more than an expensive joke, but today, the e-commerce industry is one to be reckoned with globally. Its unprecedented growth in recent times is quite worthy of note.
Notwithstanding, the industry still struggles with certain bottlenecks.
The issue of poor loyalty rewarding is a major concern. Loyalty points are typically incentives to ensure that consumers are loyal to a retailer, however, it is no longer a new thing in the industry. So shop retailers are in a state of dilemma as to what to do, knowing fully well that raising the value of the loyalty point may undermine the perceived quality and integrity of their products. Besides, lack of interoperability of loyalty points across different online outlets is another debacle.
The industry's current state is a major worry as it is affecting the loyalty industry in no small way.
In lieu of these challenges, araw token has been created in a bid to salvage the situation and soar the industries to even greater heights, by introducing cryptocurrencies.
Araw Token Solution
Araw token creation on the platform focuses on arresting the shortcomings of the e-commerce industry and by consequence, the loyalty reward industry too, through augmentation with the cryptosystem. The main goal is in two-folds:
- Provide online merchants with an alternative to the current loyalty reward system. An alternative that is actually valuable and tenable anywhere, and,
- Increase adoption of cryptocurrencies by integrating with the e-commerce industry.
Araw token offers a wide range of possibilities for all users- araw card touch and pay, a unified reward system, araw mobile wallet, p2p exchanges, open API, online pay, banking system integration and since its built on the ethereum blockchain, it also offers proof of delivery and service.
Source:
From the foregoing, it is obvious that the project is basically consumer-driven. Nevertheless, merchants, vendors and the cryptosphere will stand to gain a lot too.
Alternative to current loyalty rewarding system
In retrospect to the current loyalty reward system, araw token would have actual value and prove to be highly beneficial for both consumer and merchant. After full launch, users will get to earn araw tokens when they purchase goods online and the good thing about this token is that it can in turn be used to service micropayments on any online retail shop. As a result, merchants too will get to enjoy more patronage.
Adoption of cryptocurrencies
The advent of araw tokens will no doubt, play an immensely vital role in the mass adoption of cryptocurrencies in the coming years.
By integration into the e-commerce industry, cryptocurrencies will become part and parsle of everyone's dealings, i.e, the average man will now get to use it in his day-to-day online shopping. And interestingly, with araw's set modus operandi, there is no need for the average man to worry about the technical intricacies of the cryptosphere. As a matter of fact, the manner and dimension in which the araw token's-facilitated-purchase will take would not be much different from the popular credit card payment methods accepted by the likes of eBay.
Conclusion
The Araw token initiative is no doubt one of the most revolutionary technological creations in this dispensation. From the ensuing, the benefits would be widespread, cutting across several sectors including financial (banks), health(pharmaceutical stores), and the list goes on.
Formerly, the only benefit that consumers did derive from online shopping was home delivery, but araw is here and there is no doubt, it is set to revolutionize the e-commerce industry in no time.
Roadmap
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Team
For more information and resources, kindly check out the following:
Araw Website
Author: michades97
Bitcointalk username: michades97
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=2321458;sa=summary
You have really taken your time to explain in details @michades
I'm really liking this araw thingie. Good work here!
Great project.
This is good. Good work @michades97. Araw it is then.
I appreciate. Please do well to check the resources above for more info
Thanks. Please check out araw for more info
Thank you. You can check out the demo
I like this one @michades97
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STOPwow..
I believe this is the fastest means for crypto adoption.
Good idea tho.