Pushing the boundaries to increase the growth of consumer rewards
Over the past 18 months at Incent, we have been building and testing technology that we truly believe is a game changer in the loyalty marketing and rewards sector. We have been able to build a seamless, consumer-centric rewards solution that allows anyone to get cryptocurrency as a reward, wherever and whenever they spend. We call this technology Incent InSync. This patent-pending technology has proven that when you add a crypto-currency based reward to daily expenditure, it becomes a very powerful wealth multiplier for the end user.
Incent InSync Pilot Program
We are very excited to be giving you a quick glimpse of some stats from the Incent InSync pilot that we have been running since the start of 2019. To put some context, our pilot:
- Is across a limited number of merchants
- Covers diverse customer demographics
- Rolled out across Australia and Internationally
- The reward amounts have been set very low (for testing purposes)
In the four months that we have been running this pilot, the results have blown us away!
As you can see, our top earner has amassed $124.25 during the pilot period. What’s really interesting is that the value of their balance has grown 300%
over the same period, bringing their account balance to $372.76.
This is the power of cryptocurrency rewards. As demand for a cryptocurrency increases, there’s a direct, immediate and positive impact on its value.
What exactly is Incent?
Forged in December 2016, Incent is Australia’s first cryptocurrency – hosted on the Waves (Proof of Stake) blockchain infrastructure. Unlike Proof of Work (PoW) blockchains, such as Bitcoin, Waves’ system does away with the need for energy-intensive mining, instead, replacing it with a system where no mining takes place and each node operator is rewarded in a deterministic way depending on their stake (in Waves native cryptocurrency). This makes it a very clean, eco-friendly and cost-effective blockchain solution. With over 1000 active nodes it is also one of the most secure outside Bitcoin itself and is one of the fastest production blockchains in existence (many times faster than Bitcoin), in terms of transaction volume capacity.
The Incent cryptocurrency (INCNT) has been trading on Bittrex, one of the world’s oldest, largest (by volume) and trusted cryptocurrency exchanges since February 2017. Since trading opened it’s value has quadrupled. Recently we have achieved BetterToken Qualified status that ensures that we align to industry standards, ensuring investor protection and helping to fight fraud.
With Incent InSync, a commercial, mass-market product nearing completion we’re planning to release this technology to mainstream Australia in July and globally soon after. We’ll leave you to imagine how quickly this will enable consumers to build wealth just by living their lives.
When we go live in July 2019, we will be expanding the technology to reward every spend* a user makes, without any requirement for the usual cards or other paraphernalia associated with traditional loyalty programs. Following launch, we estimate that the average Australian will be able to grow their reward value at a rate approaching $40 a month. For consumers, this is truly a game-changer.
Incent Rewards UI and screens
At Incent our mission is to help ordinary people build wealth by making it commercially viable for anyone to encourage any behaviour they wish to incentivise with a ‘better than money’ reward. Incent InSync is the first waypoint of this strategy. You can read more about our philosophy and plans for Incent here.
Rob & Jins
Co-Founders at Incent
Legal disclaimer: Incent (Incent Loyalty Pty Ltd – ABN 58617123636) is not owned by any Bank, Insurer or financial institution and we are not a product issuer, financial advisor or a credit provider. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.