CausePlay, thirtythree.8 division is introducing the Virtual Cash Back (VCB) token to enable the next generation in retail marketing and engagement. VCB loyalty programs, rebates, coupons and rewards will utilize the Ethereum Blockchain to support greater security, budget controls and a platform for the unbanked to engage in greater detail with brands while addressing existing problems with legacy coupon and rebate processing systems.
thirtythree.8 develops and delivers mobile coupon and rebate applications and redemption processing infrastructure for global brands and retailers. Globally, coupon and rebate activity represents approximately US $20 billion in value per year flowing from brands to consumers. With little change in technology and clearing processes over the past decades, the issue of fraud in the segment has grown to over U.S. $600M annually.
“To address this problem and provide an unparalleled level of security, thirtythree.8 introduced a Blockchain-based solution that provides a cryptographically-secured transaction model that can mitigate the fraudulent coupon and rebate activity”, said Chief Operating Officer, Jonas Hudson.
“Our unique distribution method for the VCB token encourages wide adoption and use among consumers with little or no knowledge of cryptographically-secured tokens.” VCB tokens and the associated wallet applications will enable brands to maintain a direct relationship with these consumers, as well as develop and deliver campaigns targeting consumers at specific levels of brand engagement.”
The platform and its flexibility will offer a unique benefit to the more than 2 billion adults worldwide that are considered unbanked, but who regularly purchase consumer products from global brands. The VCB token economy will allow them to store, transmit and redeem value without the requirement of a traditional banking relationship.
“The launch of the Virtual Cash Back token will take place on 19 July 2017 at approximately 11:00 am UTC. The specific Ethereum block number will be announced 48 hours in advance. 1,000,000,000 (one billion) total tokens will be created, of which up to 300,000,000 (three hundred million) tokens will be offered in accordance with the terms set forth in our white paper”, said Chief Technology Officer, Jon Labrie.
”The Virtual Cash Back token, in conjunction with thirtythree.8’s mobile apps and wallets, online brand management tools, and licensed patent portfolio, will completely disrupt the existing paper-based rebate and coupon market.”
CausePlay is a mobile solutions company for retailers and brands. CausePlay creates and licenses owned and operated mobile distribution and publishing platforms that deliver brand fueled content, promotions and advertising. Thirtythree8, the AR and Blockchain technology division, provides a suite of mobile products, a distribution pipeline and patents to cover DRM protected distribution of content and coupons to clients in the grocery and CPG channel. For more information, visit www.cause-play.com or www.thirtythree8.com
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