Universal Reward Protocol (URP) teamed up with ConsenSys France to create a blockchain-based reward protocol that will allow retailers to reward consumers for their shopping behavior, according to a press release published via PRNewswire September 25.
The protocol will reportedly enable shoppers and retailers to interact in real-time and on a personalized basis. The retailers can reward consumers based on either their online or offline shopping behavior, as well as for sharing the corresponding shopping data. The collected “Proof-of-Behavior” data are then used by the retailers to offer deals customized to each specific individual shopper’s activity.
According to the release, the URP solution will give customers complete control over the use and sharing of the data through blockchain, where all opt-ins (and opt-outs) of each individual’s reward campaign is stored. By fulfilling the behavior detailed in the campaign and agreeing to share their data, the shoppers earn URP Tokens which they can redeem via personalized offers from their preferred retailers.
Ken Timsit, ConsenSys France’s Managing Director, stated:
“We are pleased to be working as technical advisor to the Universal Reward Protocol team, and excited by the possibilities offered by the use of a hybrid main chain / side chain design to achieve application scalability in real life. Members of the ConsenSys Paris team will advise the URP development team in the coming months, in order to optimize this innovative blockchain application design.”
URP was developed from a research project at UC Berkeley and Ecole Polytechnique in 2015. URP’s founders has another brainchild called Occi, an end-to-end technology solution that lets brick and mortar retailers to identify and analyze each visitor’s path, as well as interact with them. Occi will run as the first decentralized app (DApp) on the Universal Rewards Protocol platform.
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