What are the Fluzcoin benefits for market participants?
First and foremost, Fluzcoin is a retail coin. It is designed with the use in everyday retail transactions in mind, both from the point of view of the merchant and consumer. But what are the answers on two most important questions — why merchants will adopt Fluzcoin, and why consumers will use it?
Let us cover it in details below.
Why consumers will use Fluzcoin?
The direct needs of the consumer are simple: ease of use, ease of converting other currency into and out of Fluzcoin. All these needs will be met by adopting state of the art technology introduced in Fluzcoin whitepaper.
But Fluzcoin offers consumers more than covering these basic needs; six USPs stand out:
1. It is cheaper to buy with Fluzcoin
Consumers will be incentivised with product discounts for up to 3 years to stimulate mass-adoption.
2. Online Banking, instant payments, fund management
Fluzcoin combines the convenience and traceability for personal reports and for rewards of digital payment methods with the anonymity of physical cash. The consumer can choose who can see how much of their profile and history.
3. Avenue to spend crypto funds with no crypto-world transaction fees
A fast track avenue to spend your crypto funds. Easy exchange into Fluzcoin and paying at your favourite stores. Fluzcoin is free and always will be! Network is run by merchants, who sustain their own independent coin.
4. Next generation Loyalty Platform — tradable points / tokens
In stark contrast to rewards programmes of credit card companies or airlines whose rewards oftentimes expire after a certain lapse of time, rewards issued in Fluzcoin appreciate according to mechanisms outlined in Fluzcoin whitepaper. Paying with Fluzcoin unlocks access to the next generation loyalty program backed by private money of merchants living on Fluzcoin network protocol as Tokens. For the first time loyalty points will be tradable and will forge direct relationships as there is no centralised-loyalty points aggregator anymore.
5. Fluzcoin, an investment with a value potential
Fluzcoin offers consumers the opportunity to build wealth by investing into and holding Fluzcoin with its unique appreciation path.
6. An alternative & stable currency
Fluzcoin use set up to persist by design, so consumers might want to choose this currency for their daily spendings to preserve their wealth from inflation. Important, especially in countries without stable legal tender.
In order to accelerate adoption, we are contemplating rewarding retail transactions of wallets with KYC upgrade with a low percentage reward of Fluzcoin up to a certain monthly maximum.
Why merchants will adopt Fluzcoin?
The direct needs of the merchant are similarly simple: he wants to spend as little a possible on receiving payments for transactions, he wants as few defaults as possible, he wants immediate availability of funds and he wants to be compliant with the law.
Here goes few reasons for merchants to adopt Fluzcoin:
1. Follow “voice of customer” and new customers acquisition
Customer is always right and there a dozen reasons for them to use Fluzcoin, so merchants want to be prepared and adapt to the situation. Merchants want to adapt new channels of customer acquisition due to discounts and unique value proposition for consumers in Fluzcoin ecosystem.
2. Data is the new oil, data-informed consumer insights
- Consumers can upgrade their wallets on the Fluzcoin ledger through identification services that we connect to. Merchants in turn can define business rules that decide which transactions if any require the consumer to have a verified account according to know-your-customer (KYC).
- Data Economy and Data Network Effects (read more in Fluzcoin whitepaper)
- The recent troubles of Facebook notwithstanding, data is the new oil — as the Economist has eloquently put it on its cover in May last year. And data is what merchants in the non-ecom sphere still very much struggle to get.
- Fluzcoin enables merchants to get their hands on data-driven insights that drive the decision-making of digital first merchants to such astonishing degree. By aggregating over individual shoppers the Fluzcoin Consumer Insights API enables merchants to dock on and retrieve information and insights about the behaviour, interests and intents of their shoppers both in their own shops and beyond. Wondering what to restock, how to handle a big promotion period coming up, how much to invest stock and visibility to a new brand, OEM or celebrity that onboard the offer? Well just ask the Consumer Insights API for data-driven insights that inform the decision-making of brands — the cool thing about it: allowing analyses only in the carefully guarded aggregate that safeguards the privacy of individuals using Fluzcoin by maintaining full anonymity. And this of course gives rise to data network effects
3. Zero transaction costs
Transaction costs are fully covered by EUNOMIA Foundation; see
the financing section in Fluzcoin whitepaper for details. And payment transaction costs are a substantial cost line in most retail transactions: where retail margins are thin they can be as high as the margin itself; for small merchants with low transaction values, such as the archetypal coffee shop on the corner, they can be a big burden as they come often not only as a percentage of sales but with a mixed fixed and variable fee.
4. Own branding, built-in loyalty, private currency
Fluzcoin is the only coin in the world coming with in-built loyalty points mechanism, which takes form of Private Money of a merchant. By adopting Fluzcoin a merchant creates its own money, used to reward its loyal customers. This money lives on Fluzcoin blockchain in a smart contract layer in form of a token that does not need any funds to move around the network. The first private money without any costs of the protocol upholding them.
Building on the immutability of blockchain systems, Fluzcoin is default risk free.
5. Unlock crypto market with big potential
Merchants might use Fluzcoin to unlock their crypto audience and create newsworthy events for their brand promotion.
The broader and deeper the Fluzcoin adoption the better the consumer insights that merchants can draw from implementing and incentivising Fluzcoin — which again strengthens the depths and breadths of consumer insights, and so ad infinitum the flywheel spins.
Fluzcoin team is fully aware of the upcoming challenges for every point described above, which will be covered in the next posts.
If you want to find out more about Fluzcoin and technologies behind it — you are welcome to read our whitepaper.
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