#1 What is Assemble?
An introduction to the ASSEMBLE Platform
The ASSEMBLE protocol is a blockchain-based global point integration platform that exploits ASM utility tokens, whilst establishing a business ecosystem that can integrate, utilize existing points and miles with point providers, consumers and retailers.
Today’s post will be an introduction to the ASSEMBLE Protocol. We will provide you with an overview of the ASSEMBLE platform, and give a short introduction of its functionalities. These will be covered gradually in future posts.
1. Enhancing the Consumer Market
As shopping trends are consistently shifting from traditional offline markets to online e-commerce, distribution channels have also changed along with them. In fact, traditional consumption cannot simply be divided into offline and online markets. Nowadays, there are a variety of ways for customers to purchase products based on the consumers’ demographics and psychographics, such as age, interests, and lifestyle.
Along with the changing distribution channels, payment methods have also transformed compared to the past. In today’s world, consumers have different options to make payments for goods and services. For instance, they may opt for any preferred method, which ranges from cash payments to card or mobile payments, or they may even choose to pay with their collected points.
2. The Points Market
The Global Points Market is at the edge of rapid and aggressive expansion, and continues to grow consistently every year. Today, point services are used in various industries for customer acquisition and marketing purposes, and ultimately to increase the inflow of revenue . The first Korean Points System was introduced by Korean Air in 1984. As of 2019, the Korean Points Market was estimated to be worth about 20 trillion KRW, and its CAGR was thought to be more than 10%. As a matter of fact, the total mileage points paid by domestic credit card companies to customers reached 2.9 trillion KRW as of 2017.
While companies have to incur additional marketing expenses to promote or maintain their loyalty programs (point systems), which were introduced for marketing purposes, they cannot properly incentivize their customers to use the points due to the limitations of the point system. Limitations such as short expiration dates or a lack of places. Therefore, points that are spread out among many different companies are not recognized as having equal value to goods from the perspective of the consumers. For example, a local credit card company recently declared that credit card points worth 100 billion KRW are not being utilized annually.
3. The Assemble Protocol
The ASSEMBLE Protocol is a blockchain-based global point integration platform. ASSEMBLE connects the point provider (businesses), point consumers (customers) and retailers (both customers and businesses). The goal of the ASSEMBLE Protocol is to alleviate existing limitations and create various point usage places, and abolish time constraints, so that the points can ultimately be used with valuable.
Along with that, point providers can build data infrastructure within the ASSEMBLE Platform to establish advertising strategies. Moreover, the ASSEMBLE Protocol gives companies an opportunity for new customer inflow channels. Consumers can see their points at a glance through the ASSEMBLE Platform.
4. Combining Points and Blockchain
▶ Expandability to Global Markets
As a matter of fact, digital assets issued by blockchain technology entail asset-specific values, which help to solve the pervasive issue of exchange rates and transaction fees. Hence, the point network scattered around the world exploits one single blockchain network, which also helps to solve the problem of transmission speed.
▶ Cost Saving
In-house development of point-services takes a lot of time for any enterprise. On the other hand, the utilization of tokens issued by blockchain technology may save a lot of money and time expended on building security and operating systems.
4. Road Map
2019 Q3–Q4
- ASSEMBLE Team Building
- Service and Application Concepts Development
2020 Q2
- White Paper Announcement
- Partnership with Style.com
2020 Q3
- Launching ASSEMBLE Wallet
2020 Q4
- ASSEMBLE Market Place development completion
2021 Q1
- Launching web-version of ASSEMBLE (for Windows/Mac)
- Partner PLUG-IN development completion
2021 Q2
- Launching mobile-version of ASSEMBLE
