I do not understand the business model. The story of some dude or gal buying stuff and getting rewarded is nice and sweet. However it fails to explain the business model.
The purpose of a loyalty program is to create loyalty. This is normally achieved by given customers big rewards that can only be spent at a certain store or business or network thereof.
I.e. i go to best buy and buy stuff and i get 5% but i can only spend that 5% if i buy at best buy again and within a certain timeframe. That forces me the customer to come back.
In your model I ca just sell my 5% on the open market. This means you destroy the value proposition.
Have you thought about the fact that your solution needs to actually create value for both the customer and merchant?
Again i’d like to understand the business model. If there is one, ill buy. But right now I have not seen any, after reading some post here and the white paper.