The global loyalty and rewards industry creates, and redeems, billions of dollars of merchant promises each year. It does this in the form of vouchers, points, cashback and gift cards.
Whilst there’s been intense innovation in this space over the last 5 years, there’s been nothing quite like Vow.
Vow tokenises merchant promises themselves, making them transferable. It decentralises their backstop, makes merchant commitments fungible, secure, and transparent for consumers.
In doing so it reduces regulation, compliance, and contingent liabilities for merchants, eliminates fraud and leads to average cost savings of up to 80 percent.
Vow brings interoperability to the industry at vast scale, and is predicted to grow exponentially, due to network effect alone.
Vow currencies already sit in the background of multi-million user rewards programmes operated for banks, card schemes, media houses and insurance companies by loyalty companies all over the world.
Without changing their buying behaviour in any way, hundreds of millions of consumers and hundreds of thousands of merchants will be introduced to cryptocurrency. No new equipment/cards or terminals are necessary.
In the very near future if merchants all over the world are holding Vow, and if consumers are earning and spending it every day, then early speculators will be handsomely rewarded. The world’s first global decentralised reward currency is arising.
The scale of the Vow economy and the number of lives it will touch, eclipses any crypto project to date. It allows any crypto currency to be spent instore or online without conversion to fiat, its derivatives are 100 percent price stable, and its management team, definitively and categorically, “vow to change the world.”