Multibuy has been running their traditional loyalty rewards system since 2005. Whilst extremely successful to date, a traditional rewards system can prove costly to run and manage especially when scaling the expansion to a global market. On such large scales, the central distribution and support is labour intensive, logistically difficult and open to fraud or abuse of the system.
What is Multibuy Group
Multibuy Company and its loyalty rewards system have been growing at a tremendous rate over the last decade. Businesses that have white labelled and utilise the loyalty rewards system to give back to their loyal returning customers are often referred to as being on the Multibuy circuit. All companies on the Multibuy Circuit will accept part or whole payment on products and services with Eurocredit. Many new platforms have been introduced over the last two years to help connect businesses on the Multibuy circuit and the 200,000 + customers using the loyalty rewards regularly. Our most successful platform to date is Multibuy Travel, this is an online platform were customers can book holidays paying up to 100% in Eurocredit with travel destinations registered on the Multibuy Circuit.
Multibuy changing from Eurocredit Plus
Already proven and highly successful, the expansion of their Eurocredit Plus loyalty rewards system was an obvious opportunity to utilise the efficiencies which Blockchain technology brings. By replacing our traditionally “closed system rewards model” we aim to expand to many new markets, leveraging the innovation of this exciting space. This transition will also allow for the platform to be greatly enhanced and expanded for the benefit of all participants. After the launch, our existing Eurocredit Plus rewards platform will close to new customers and be swapped for our cryptocurrency called MB8 Coin.
MB8 Coin will be used as the 'fuel’ for the existing loyalty rewards network. MB8 Coin will be the first ever cryptocurrency that is released with a proven real world use and will be accepted as part or whole payment within the existing network of vendors and retailers. MB8 Coin is set to become the backbone of the rewards network that is already being used under white label by over 2100 businesses.
Blockchain Solution
Blockchain allow Multibuy to streamline the scaling process and save on running costs. After deeper investigation and consultation, the additional benefits of switching to a cryptocurrency based reward token are:
• Through participation in securing the network you can be rewarded 5% annual growth, in the form of additional tokens.
• MB8 tokens are distributed via an ICO to the public, new and existing business partners.
• Inability to fraudulently issue or create additional MB8 rewards tokens.
• Borderless and immediate transactions, perfect suited to the modern global market.
• Utilisation of the MB8 token via peer to peer gifting and trading on crypto exchanges will allow true price discovery to take place.
• Attract new customers to utilise the rewards platform, as well as bringing many new vendors, businesses and holiday locations to the rewards network.
• MB8 tokens are distributed via an ICO to the public, new and existing business partners.
• Inability to fraudulently issue or create additional MB8 rewards tokens.
• Borderless and immediate transactions, perfect suited to the modern global market.
• Utilisation of the MB8 token via peer to peer gifting and trading on crypto exchanges will allow true price discovery to take place.
• Attract new customers to utilise the rewards platform, as well as bringing many new vendors, businesses and holiday locations to the rewards network.
Mobile App
Multibuy launched its first mobile app at the end of 2017 and plans to introduce new and improved features to allow customers to locate and interact with business partners accepting MB8 Coin. Linked to your pre-paid debit card, the app also doubles up as a hosted MB8 Coin Wallet which you can use to send and receive your coins with retailers, individuals or crypto exchanges.
The New Rewards System
Finally
Multibuy wanted to add security and transparency to their rewards system. Early tests demonstrated this technology was the perfect fit to replace their current technical solution. Developing their own chain allows them control over the distribution, integration, support and expansion of the network.
✅Website: https://mb8coin.io/
✅Whitepaper: https://mb8coin.io/%24whpdir/MB8%20Whitepaper.pdf
✅Twitter: http://twitter.com/MB8Coin
✅Facebook: http://fb.me/MB8Coin
✅Telegram Group: https://t.me/joinchat/HS6S5UljzEQlZR6nw0m61g
✅Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3623567
✅Whitepaper: https://mb8coin.io/%24whpdir/MB8%20Whitepaper.pdf
✅Twitter: http://twitter.com/MB8Coin
✅Facebook: http://fb.me/MB8Coin
✅Telegram Group: https://t.me/joinchat/HS6S5UljzEQlZR6nw0m61g
✅Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3623567
Author of article:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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