for suppliers and end-customers
The best way to incentivize the actors of the supply chain to participate in it in an ethical and transparent way is simply to recognize them an economic value for the services performed.
Here therefore that from the producer to the final consumer, every interaction is economically rewarded with the cryptocurrency.
Like any widely used cryptocurrency, it has a value in the global market and can be exchanged or reused throughout the ecosystem to purchase goods or services or converted into FIAT currency through an exchange service.
It can have decreasing or increasing fluctuations (like BTC or ETH). It can be kept in a wallet. It can be invested and can generate profit in a decentralized ecosystem. Decentralized also means not controlled by governments or banking institutions, guaranteeing their exchange all over the world without any limitation.
Each supplier has its own list of goals (e.g., SDG, KPI, rollout) declared in the blockchain. Their work and commitment are certified, visible and transparent
The Brand rewards the suppliers with OTIs proportionally to the goals achieved
Only certified suppliers can participate in the chain
Should the OTI be traded based on fraudulent information from the supplier, this would represent an offense of falsehood, persecuted by law.This crime would be stored on blockchain with no chance to delete this information.
While creating new 1trueid Code for new products, the brand rewards the supplier based on SDG goal achieved.
Goals Disruption of end-customer advanced engagement
- BRAND Engagement
- Acquires end-customer’s advanced data
- Customized marketing
- The product evolves from point of touch to point of sale
- Direct sale to the end-customer
- The Brand buys OTIs needed to create the 1trueid Code associated to the tag of each lot
- The end-customer purchases the item with the Own it service and is invited to download the 1TrueID appHe now owns a virtual wallet where the OTIs associated with the product are transferredHe also can access dedicated portals reserved for him suggesting him similar products based on his history
- The end-customer is rewarded and stimulated to buy more products of the same brandHe can decide whether to convert the OTI into physical currency or use it for different services
- The Brand earns back the OTIs spent in the first placeIt can decide whether to spend them to create new 1trueid Code or to convert them in physical currency
- The Brand engages the end-customer and a dedicated marketing relationship is created