LONDON, June 20,
2018 /PRNewswire/ -- After experiencing an explosive growth
in e-commerce, the global consumer market has reached somewhat of a
bottleneck, as more and more people are returning to traditional
brick-and-mortar shop. In addition to physical shops being able to
provide better consumer experiences, the potential volume of sales
is also undoubtedly huge. However, information flow between
physical shops is restrictive and most of the merchants do not
orient their strategy according to the customer's perspective.
Physical shops provide a range of vastly varying products and
services, data sharing is difficult to achieve, and leads to
isolated information silos. From the merchant's point of view,
although there are many channels available for advertising and
promotion, the effect of promotions cannot be guaranteed, which
results in high overall cost of customer acquisition, which in turn
requires more promotions, thus forming a negative feedback loop in
terms of promotional difficulties.
Although centralized online payment platform are capable of
connecting users, they tend to serve the big players by feeding off
the merchants' customers rather than sharing the customer traffic.
Paul Lewis, who has many years of
experience in sales and blockchain related sectors, proposes a
truly decentralized consumer traffic sharing platform CoinX via the
blockchain. CoinX can be thought as the virtual asset in the
customer traffic sharing blockchain: connecting physical stores,
businesses and consumers to provide effective customer resources
and advertising channels for businesses; as well as cross-store
consumption, reward and promotional system for customers. Since the
physical store retail ecosystem has numerous participants and is
rich in data & information, the blockchain technology, as
large-scale consensus tool, is well suited for its operations. For
example, blockchain is able to solve the problems of data storage
security as well as transaction traceability.
Using the blockchain technology, CoinX aims to integrate retail
and services industries and break down the traditional barriers
between stores by unifying their own coupons, reward points,
loyalty cards and stored value in a integrated referral system. The
blockchain allows consumption generated via referrals to be
rewarded through very accurate rebates, giving recommender
substantial returns. This is a bold idea, it has never been
possible to break down the consumer barriers before, all of a
sudden everything is simplified. Perhaps in the future CoinX will
be able to provide services wherever there are consumption
scenarios.
CoinX founder Paul Lewis has
worked as an executive and partner
for a number of companies including Frontier7 and Vision4Global. He
has more than 20 years of senior management experience in the sales
industry, and has accrued vast industry resources in the retail
sector. The customer bases covered by companies he has worked for
include the United States,
Sri Lanka, Australia and India.
Co-founder Marc Aspinall has more
than 18 years of experience in financial markets. He has held
leading positions in top financial institutions in Europe as well as the Middle East, and is responsible for
cutting-edge work on trading technology and its global
distribution. For 14 years he worked as the director for the
foreign exchange giant CMC Markets, and in the past 4 years
he was the head of sales for the Abu
Dhabi based ADS Securities. Marc has worked closely
with many outstanding financial technology companies, including The
Naga Group, which was listed in July
2017 and successfully raised more than US$ 50 million in an ICO in December 2017.
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SOURCE CoinX