Sunday, March 31, 2019

What makes MB8 Coin different

What is the Loyalty?

Loyalty is a customer's willingness to buy from or work with a brand again and again, and it's the result of a positive customer experience, customer satisfaction, and the value of the products or services the customer gets from the transaction.
It might sound obvious -- of course, brands want to provide great customer service so customers will continue subscribing or purchasing. But customer loyalty is paramount to brands' success -- because loyal customers can grow business faster than sales and marketing.

The Importance of Loyalty

  • Loyal customers are more likely to convert and spend with brands they like more often. Return and repeat customers generate as much as thrice the revenue per visit than other shoppers.
  • Loyal customers also account for positive social validation. Social validation is often more effective than branded content and advertising. Customers who are referred via word-of-mouth marketing have higher rates of becoming loyal customers who spend more than the average customer.
  • A high number of return and repeat customers indicate their trust in a brand and their products and services. This is beneficial for the business as customers choose to purchase from the brands they are loyal to, in spite of several brands competing in the market.
  • Customer loyalty stems from the efforts made by the customer to deliver a high success rate every time they make a purchase from the same brand. This is why organizations also prioritize customer service, as they seek to retain their existing consumer-base by increasing customer loyalty.
Is the blockchain the solution?
Blockchain technology is an excellent solution for running network loyalty programs because they address many of these technical challenges. One of these solutions include creating a shared transaction ledger between all involved brand, implementing interchanging rules based on “smart contracts”, which is fraud and cheating protected. This Blockchain network will be a shared scalable infrastructure between brands from different sectors.
What makes MB8 Coin different?
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.
The benefits from building the loyalty system (Mb8coin) on the blockchain
There are lot of benefits from using the blockchain:-
  • Book holidays online paying up to 100% with MB8 Coin with a 1 MB8 Coin : 1 Euro Value.
  • Buy products online paying up to 70% with MB8 Coin with a 1 MB8 Coin : 1 Euro Value.
  • Spend MB8 coin within existing and growing loyalty rewards network.
  • Gain 5% p/a additional MB8 Coin rewards through staking.
  • MB8 Coin will be listed on exchanges where customers will have the ability to trade the coin for other currencies.
  • MB8 coin will be accepted by over 2100 businesses soon after ICO completion.
  • The Multibuy App is being re-developed and will soon show nearest accepting business partners.
  • Gain MB8 Coin while using the existing rewards platform.
  • Reduced costs in running and maintaining the Multibuy rewards system.
  • Increased business recognition and new customers from untapped areas.
  • Industry first where a rewards system replaces its operating model to Blockchain technology.
  • Opens the rewards system to anyone who wishes to participate.
  • Ability to benefit from increased business from new customers and brand awareness.
  • Ability to buy and sell the rewards tokens on the open market rather than from a closed source at a fixed price.
  • Vendors will receive MB8 Coin at ICO and from all future customer redemptions on offers.
  • Ability to accrue 5% additional MB8 Coin rewards p/a. (by staking)

Finally

Loyalty programs based on Blockchain where smart contracts will automate all transactions will make the management of loyalty programs smooth and autonomous.The data stored on blockchain will maintain privacy of users which will increase trust of brand among users. smart contracts will take care of everything, from transferring of tokens, converting tokens, validating users during rewarding and redeeming of tokens, thus creating a trustful environment between multiple involved brands.
Details of the Author:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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Saturday, March 30, 2019

Why Multibuy decided use the blockchain

Customer loyalty is something that all companies should aspire to simply by virtue of their existence: The point of starting a for-profit company is to attract and keep happy customers who buy your products to drive revenue. Loyal customers convert and spend more with brands they're loyal too more often, and they tell their friends and colleagues about those brands, which helps drive free referrals.

Why sould supporting the value of cultivating customer loyalty?

  • Loyal customers convert and spend with brands they like more often
  • Loyal customers spend more than others
  • Loyal customers tell their family and friends about positive experiences. Word-of-mouth marketing is more effective at driving new customers than branded content and advertising, and in turn, these referred customers become loyal customers that are likely to spend more than average.

How can Blockchain solve issues existing in the traditional loyalty programs?

  • Blockchain-based loyalty programs address a number of issues that typically drive customers away from traditional loyalty programs. Among them are problems with redeeming points before they expire and keeping track of multiple loyalty programs.
  • Low redemption rates are a big problem for loyalty marketers. Members that are not redeeming are not actively engaged in the loyalty program. On the flip side, members who redeem points are more engaged, spend more and are more satisfied with loyalty programs.
  • Blockchain allows a customer to store all points in a single wallet rather than trying to manage multiple programs. There would not be separate rules for acquiring and redeeming points from different loyalty programs as is currently the case.

Why Multibuy decided use the blockchain

Multibuy wanted to add security and transparency to thwir rewards system. Early tests demonstrated this technology was the perfect fit to replace our current technical solution. Developing their own chain allows them control over the distribution, integration, support and expansion of the network.
MB8 Coin is set to become the backbone of the rewards network that is already being used under white label by over 2100 businesses.

Multibuy Introducing its MB8Coin

Multibuy will be releasing MB8 Coin to drive the huge expansion of its already proven loyalty rewards system, by enabling global adoption via cryptocurrency. The initial implementation will be an ICO sale distribution of MB8 Coin tokens, which serves to replace the existing rewards systems “fuel” with an interest bearing cryptocurrency tradable on open crypto exchanges.

Features of the new system

  • 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.

Finally

When it comes to loyalty programs, customers value flexibility. With blockchain loyalty programs, customers would no longer have to wait to be awarded points but could potentially receive and redeem them in real time. Plus, blockchain rewards are easier to track and can be redeemed in smaller increments. There are also broader opportunities for engagement including local campaigns, partner offers, biometric authorization and targeted content.
Details of the Author:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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Friday, March 29, 2019

MB8 Coin the first ever cryptocurrency that is released with a proven real world use

Did you know it costs a business about 5-25X more to acquire a new customer than it does to sell to an existing one?
Not only that, but existing customers spend 67% more than new customers. In short, customer loyalty really pays off -- and customer loyalty programs end up paying for themselves.
In marketing generally, and in banking, entertainment, hospitality, retailing, and travel more specifically, a loyalty card, rewards card, points card, advantage card, club card is a plastic or paper card, visually similar to a credit card, debit card, or digital card that identifies the card holder as a participant in a loyalty program. Loyalty cards (both physical and digital) relate to the loyalty business-model.
By presenting such a card, purchasers typically receive either a discount on the current purchase, or to an allotment of points that they can use for future purchases. Hence, the card is the visible means of implementing a type of what economists call a two-part tariff.

Why MB8Coin?

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.
MB8Coin uses public-key cryptography, peer-to-peer networking, and proof-of-stake to process and verify payments.MB8Coins are sent (or signed over) from one address to another with each user potentially having many, many addresses. Each payment transaction is broadcast to the network and included in the blockchain so that the included coins cannot be spent twice. After 30 minutes to an hour, each transaction is locked in time by an amount of processing power and collateral value that continues to extend the blockchain. Using these techniques, MB8Coin provides a fast and extremely reliable payment network that anyone can use.

The process of verification

MB8Coin uses public-key cryptography, peer-to-peer networking, and proof-of-stake to process and verify payments. MB8Coins are sent (or signed over) from one address to another with each user potentially having many, many addresses. Each payment transaction is broadcast to the network and included in the blockchain so that the included coins cannot be spent twice. After 30 minutes to an hour, each transaction is locked in time by an amount of processing power and collateral value that continues to extend the blockchain. Using these techniques, MB8Coin provides a fast and extremely reliable payment network that anyone can use.

Now, How the transaction verification process going on?

Transactions are cryptographically signed records that reassign ownership of MB8Coins to new addresses. Transactions have inputs - records which reference the funds from other previous transactions - and outputs - records which determine the new owner of the transferred MB8Coins, and which will be referenced as inputs in future transactions as those funds are respent.
In a transaction, the sum of all inputs must be equal to or greater than the sum of all outputs. If the inputs exceed the outputs, the difference is considered a transaction fee, and is redeemable by whoever first includes the transaction into the block chain.

MB8Coin Core Wallet

The MB8Coin Core client stores private key information in a file named wallet.dat following the so called "bitkeys" format.
It contains:
• keypairs for each of your addresses
• transactions done from/to your addresses
• user preferences
• default key
• reserve keys
• accounts
• a version number
• Key pool
• Since 0.3.21: information about the current best chain, to be able to rescan automatically when restoring from a backup.
The wallet.dat file is located in the MB8Coin data directory and may be encrypted with a password.
It is intended that a wallet file be used on only one installation of MB8Coin at a time. Attempting to clone a wallet file for use on multiple

Finally

MB8Coins, the coinbase/coinstake transaction is also used for assigning the recipient of any transaction fees that were paid within the other transactions being included in the same block. Once coin staking takes place, the coinbase transaction becomes empty and instead a coinstake transaction is responsible for minting new coins.
Details of the Author:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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Multibuy releases MB8 Coin to drive the huge expansion of its loyalty rewards system

Loyalty programs are structured marketing strategies designed by merchants to encourage customers to continue to shop at or use the services of businesses associated with each program. These programs exist covering most types of commerce, each one having varying features and rewards-schemes. 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.

Why Is Customer Loyalty Important?

Loyal customers are more likely to convert and spend with brands they like more often. Return and repeat customers generate as much as thrice the revenue per visit than other shoppers. In U.S.A alone, the average repeat customer shops as much as 5 new customers, whereas in Europe, the ratio is 7:1.
Loyal customers also account for positive social validation. Social validation is often more effective than branded content and advertising. Customers who are referred via word-of-mouth marketing have higher rates of becoming loyal customers who spend more than the average customer.
A high number of return and repeat customers indicate their trust in a brand and their products and services. This is beneficial for the business as customers choose to purchase from the brands they are loyal to, in spite of several brands competing in the market.
Customer loyalty stems from the efforts made by the customer to deliver a high success rate every time they make a purchase from the same brand. This is why organizations also prioritize customer service, as they seek to retain their existing consumer-base by increasing customer loyalty.

What is MB8Coin?

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.

The Benefits of Using the Blockchain

This will allow 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.

Multibuy Releasing MB8Coin

Multibuy Company will be releasing MB8 Coin to drive the huge expansion of its already proven loyalty rewards system, by enabling global adoption via cryptocurrency. The initial implementation will be an ICO sale distribution of MB8 Coin tokens, which serves to replace the existing rewards systems “fuel” with an interest bearing cryptocurrency tradable on open crypto exchanges.

Finally

MB8 Coin is set to become the backbone of the rewards network that is already being used under white label by over 2100 businesses.
Details of the Author:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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Sunday, March 17, 2019

Multibuy swapping its Eurocredit Plus platform for cryptocurrency MB8 Coin

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.

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.
Author of article:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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