After reading the white paper my understanding is the following:
Incent will allow merchants to use a rewards system without any infrastructure need and investment cost, since it runs on a blockchain. The merchants can select how much they want to reward their customers, which means any purchase will trigger a buy transaction for the reward which will be paid out in the incent currency to the customer as reward.
This is just a crypto token that can be traded openly and also at the merchant, i.e. to buy stuff.
All that said I don't get the value of this for the merchant. The only advantage is low cost. But the key point of a reward system is to force customer to come back. By allowing customers to have a token they can just sell is the same thing as giving them money back right away, except with more friction which is the same as reducing the price except with more friction.
I don't see how this business model makes any sense?
What am I missing?
Thank you. This is what I am looking for.
Why do you think it's an interesting project. What is the value of the solution in your opinion?