Without a doubt, one of the most important and popular discoveries this millennium has been e-commerce. Backed by a growing population of internet users and technologically aware people, e-commerce has quickly become the preferred way to shop with people frequenting brick and mortar shops more rarely.
Footfall which is an effective way of letting shop owners how many customers enter and how many actually purchase from them has lowered significantly even in the swanky malls that dot the layout of most cities across the globe. One method employed by them to attract customers is the use of a loyalty program rewarding loyal users, wherein points can be redeemed for products or in some cases attractive gifts. But even this method has its drawbacks.
These loyalty points are specific to one particular merchant and do not support cross usage or conversion between two merchants, which means a user is limited in his choices. Integrating loyalty points of al merchants together would logistically be very difficult. Another issue is that users are not often aware of the point balances or expiry dates which can result in them not getting the intended value. Users are not always informed about the value of the points since all conversions are performed by the merchant. Merchants do not support the transfer of points between users.
These issues have resulted in no increases to footfalls causing merchants to shift to other means to increase customers like expensive ad campaigns.
Blockchain and IoT technology breakthroughs offer new possibilities to users with a currency that is liquid and transferable and can address the loyalty program issues, a wallet to handle this token and applications to help retailers regulate rewards.
Mozo aims to build a universal platform to attract users to physical stores, allowing them to mine and use Mozo coins when using the Mozo app and discover new and attractive products.
Motivation to go to stores to earn Mozo coins
A transparent reward system that can be used across merchants.
Incentives to visit stores.
An expected increase of about 20% in footfall.l
Bypass advertising fees.
Real-time tracking of users when in stores.
They join a global system of retailers.
In the future, Mozo expects to evolve in order to handle fees, sales commissions etc.
What Mozo provides in order to complete the shopping experience:
Discover products and services using IoT.
A cryptocurrency Mozo, to reward users.
Solo, a blockchain for micropayments.
Data-driven shopper personalization and product recommendation.
Bridge the Online-to-Offline gap.
Features of Mozo Tokens
Available during presale and crowd safe.
A limited supply of Mozo tokens.
Circulate on the proprietary Solo blockchain and Ethereum public network.
Freely transferable and tradable on major exchanges.
Storable in all major client wallets.
The currency on the platform representing discounts or cash back.
All fiat currencies (e.g., USD/HKD/SGD) are convertible into Mozo.
Earning Mozo coins
Merchants can reward users in Mozo tokens which are smart contracts between user-device or user-user or user-system.
Newly registered customers on the consumer application receive a one time reward through a “shake” gesture using the device.
Tokens can be earned on each visit to stores, especially in malls and hotels.
Zap rewards – Users are rewarded for discovering new products by being brought near stickers associated with it.
Buying products at the digitized store or online marketplace using fiat currencies or cards can be rewarded in tokens on next purchase.
To use tokens select the payment option on the consumer app which automatically calculates the number of tokens required for the purchase using the smart contract. Mozo tokens can be redeemed on the redemption marketplace for discounts or cash back on next purchases using the smart contract.
Buying or Selling Tokens
Consumers and retailers can buy or sell tokens at designated exchanges in either fiat currencies or cryptocurrencies like BTC or ETH. On buying tokens, they are added to the user’s wallet. Sellers can sell tokens similarly on exchanges.
Solo is a DAG type blockchain network that supports peer to peer micropayment transactions, each initiated by a sender and approved by the destination. Hence the name Solo. Transactions are recorded in ledgers and accepted by random data nodes on the network in order to prevent double spending and hacking. Solo is essentially designed to support a particular geographical area and can connect to other regions through the Ethereum network. Solo has massive computational abilities with transaction handles by smartphones and connected devices and delays are limited to just seconds for regional transactions.
Beacon is a protocol for native iOS developed by Apple that is a class of Bluetooth Low Energy devices that can send signals to nearby devices like smartphones. This becomes a perfect device to develop the IoT concept as compared to earlier options like the barcode, QR code, and RFID. Each beacon has a UUID – Universal Unique Identifier which has been perfected by Mozo for its token discovery scheme.
Mozo has developed two application to offer interactive services offline and online.
When the user enters the store the Consumer app enters the offline mode, and sensors in the store interact with the beacon and perform actions like ‘Buy’ and ‘Zap’. All these actions allow users to gain rewards in Mozo Tokens. The customers can also purchase from warehouse inventory when products are not available in store. Redemption is also available in both offline and online modes.
The Retailer app is used by either salesperson or retailer depending on their privileges. In the role of salesperson, the app allows him to detect loyal customers and their preferences when they walk in. Their shopping styles and sizes are also passed and favored or familiar employees are assigned.
When logging in as an owner, the app allows the setting of token rewards for actions like Zap. It allows adding and management of products and applies marketing plans. This is called the Retailer mode.
Mozo’s online-to-offline system comprises of 6 modules with specific roles.
Admin Web Server – Inventory management and customer relationship management.
Application Server – Retail and payment activity, logistics, social management.
Recommendation Engine – Bigdata analytics and recommendations.
Notification Server – Real time message notification.
Search Engine – the Full-text search engine.
Mozo moves forward with a core team comprising Giang Phung, CEO- a veteran of the technology industry, Daniel Caroll CFO – an expert with 30 years of experience in the technology and service sectors, Thang Ton, CTO – a Distributed systems and semiconductors expert, Danny Do, CMO – venture capitalist and founder of multiple software companies related to education and media, and CEO in charge of Korea Jake Byongsok Yu.
They are ably assisted by a team of advisors with expertise in various fields like big data, blockchains, startups, fundraising, and ICO.
For More Details of MOZO:
Official Website: https://www.mozocoin.io
ANN Thread: https://bitcointalk.org/index.php?topic=4169993
Post By Anton De Mel
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1770640