- Collect digital coupons (DC)/ tokenized promo codes from publishers
- Redeem DC with Merchants when buying, receiving deals, discounts, special offers
- Persistent reputation (if they want to)
- Can become publishers and promote products they use
- Issue digital coupons (DC)/ tokenized promo codes
- Agreement with merchant(s) what coupons are issued and what is the commission for redemption of each coupon
- Persistent reputation
- Provide goods and services to buyers
- Accept DC for redemption
- Merchants set their own rules of issuing and redeeming DC and loyalty points
- Rules can be very granular (by item, time of day, buyer) and executed automatically by Boomerang software
- Persistent reputation
Boomerang Token ($BMG)
- Fixed supply
- Utility token required to access smart contracts generating DC
- Each merchant needs to keep a deposit of $BMG in order to issue their DC
Digital Coupons (DC)
- Issuance and redemption decided by merchants
- Offered by publishers to their audience to incentivize buyers
- Commissions/ success fees paid to publishers by merchants upon redemption by buyers
- Can represent discounts, special offers, physical goods and services that buyers receive from merchants
- Issuance and redemption is free and unrestricted on the Boomerang platform
How it works
- A merchant creates a 10% discount DC. Offers 5% commission to publishers.
- A publisher accepts this offer and encourages her audience to try our products from the merchant, offering DC as an incentive.
- A buyer collects DC into their Boom! Wallet
- The buyer presents DC to the merchant at checkout. Receives a $10 (10%) discount off the retail price of $100.
- The merchant pays the agreed commission $5 (5%) to the publisher who issued DC, because DC are fully traceable. Merchants know who issued DC and who redeemed them.
- The publisher is notified that DC issued by them has been redeemed and their commissions will be processed.
This is quite similar to affiliate marketing, but greatly improved by the blockchain technology that guarantees auditability, security and transparency eliminating issues with reward/sales attribution, expired cookies, unaccounted transaction. The platform is also decentralized and cheaper to use. Finally, Boom! is privacy focused: it uses tokens on a blockchain, so no cookies or other tracking and surveillance software is needed.
No single company can control identity, reputation and data consensus – this creates monopolies. Instead, these must be hosted in a transparent and decentralized way. (like DNS).
Blockchain enables this in a cost and energy efficient, tamper-proof and auditable way.
Blockchain comes with built-in solutions for secure handling of digital assets, trusted messaging and value transfer.