Orioncoin is Revolutionizing Traditional Loyalty Programs While Solving Existing Cryptocurrency Liquidity Issues with ORC Platform
Loyalty and reward programs in the world constitute a multi-billion dollar industry, but the system is plagued with flaws. At Orioncoin, we’ve set out to identify and solve the issues faced by consumers in traditional loyalty reward programs. Let’s start by addressing and breaking down the key pain points that we have identified.
- An Infinite Supply of Points
- Points Are Not Tied to Any Monetary Value
- Systems Operate on Centralized Networks
- Points are due to expire
- Points are only good in a closed ecosystem
- No transparency, thus easy to abuse
- And etc.
Orioncoin’s Finite Supply
You may think that being able to earn an uncapped amount of points would benefit the user and provide a competitive advantage to the merchants offering the reward system. Unfortunately, the complete opposite is true. By providing an infinite amount of points to consumers, rewards become less valuable, and the company’s balance sheet takes a massive hit. A business must look at points as redeemable credits to their account, which results in reward programs directly affecting their revenue and profits. At any given time, a company must be able to fulfill a consumer’s right to cash in their points. For this reason, infinite points become an unsustainable system.
At Orioncoin, we take the opposite approach to reward points. We have capped the amount of ORC available to consumers to 10,101,073,636. This limit means that as the Orioncoin network grows, and demand for Orioncoin naturally rises, your coin becomes more valuable. The added transparency made available by the blockchain also ensures that, unlike merchants using today’s loyalty programs, we can not artificially lower the value of the reward to increase our profitability.
Orioncoin as a Medium of Exchange
You spend months, maybe even years collecting reward points in the hopes of cashing them in for something amazing. The problem is many companies do not offer rewards that customers find enticing, and those that are can be worth an unimaginable or unattainable amount of points. Ultimately, you are stuck with a large amount of points that you don’t want to spend on any of the available awards, but cannot be used towards anything else.
Orioncoin offers the well-known use case provided by loyalty programs, the ability to earn rewards at vendors and spend them throughout the loyalty network. However, we see the fundamental flaw in this system, what if you don’t want to spend your reward points only at specific vendors? We solve this problem with the issuance of our CRYPTORC Credit and Debit cards. A familiar and loadable debit or credit card that can be used at any vendor on the Cirrus network. Orioncoin can be converted into cash for use through the the CRYPTORC card at ATM or online at ORC Platform for physical cash at many locations worldwide or at participating merchants, making it easier to convert Orioncoin to cash and spend how you want. On the other hand, users can acquire Orioncoin at any of business affiliates partners outlet or vendor by cash or fiat.
Bringing Loyalty to the Blockchain
Traditional models come with traditional problems. The weaknesses of centralized networks in regards to loyalty programs have been highly visible to consumers for decades. The storage of multitudes of customer information in a single server make hacking and fraud much easier. Out of date technology leads to clunky membership cards and redemption programs. As well as a lack of transparency that results in companies modifying point values and essentially steal from consumers.
As with any company choosing to operate on the blockchain, Orioncoin sees the potential for the decentralized ledger to change the way businesses operate. A single wallet to store and redistribute Orioncoin is a simpler way to keep your rewards for later use, and having one login for the entire network enables you to access all the information necessary in one simple step.
There’s no denying the glaring differences between conventional reward systems and the capabilities of the services made available through the blockchain provided by Orioncoin.
The ORC Platform
We might be the first company to bring loyalty rewards to the blockchain or not might not, but we have built a platform to differentiate us from our competition. We have already identified the problems we faced with traditional loyalty programs, however, Orioncoin has also noticed some common problems when it comes to using cryptocurrency in today’s markets.
- Difficulty Exiting from Crypto into Fiat
- Limitations on Spending Cryptocurrency
- Volatility of Cryptocurrency
Exchanging Crypto into Fiat/ Fiat into Crypto
Adopters of cryptocurrency may have more than hundreds of thousands of dollars worth of crypto stored in their wallets, but how do they go about transferring their digital currency into their local fiat? Online exchanges require an extra step of trusting a third party to complete the transaction with an associated fee. The ORC Platform becomes a one stop shop for crypto users to transfer their Orioncoin directly into cash through our partnership with Cashback Worldwide Ltd. Our banking partnership allows for 24/7 service, anywhere in the world, through a direct deposit into your bank account in many countries, or the pick up of cash at a participating merchant worldwide. Similar services come with fees of around 10%, Orioncoin offers a better product for a fraction of the cost. Exchange your Orioncoin into cash, without having to trade it into Bitcoin or Ethereum first and receive your cash within a matter of hours, with just a 2.5- 3% ORC service charge. On the other hand, users can acquire Orioncoin at any of business affiliates partners outlet or vendors by cash or fiat without going through the 3rd party cryptocurrency exchanges. Orioncoin is bringing the cryptocurrency mainstream and easy to access to.
Everyday Spending of Crypto
When compared to cash, cryptocurrencies simply can not match the diverse market place of vendors willing to accept their tender. As digital currencies grow in popularity, more users want the ability to spend their crypto on everyday needs. Granted, a considerable amount of companies are coming around to the idea of accepting Bitcoin as a form of payment, but this involves exchanging altcoins into the more popular cryptos before spending. Usually this step involves signing up for accounts, possibly changing wallets, and even incurring fees. As mentioned previously, Orioncoin has implemented the use of debit and credit cards to account for this issue and make the process of spending your cryptocurrency easier. No need to transfer into a major coin, simply load your Orioncoin onto our CRYPTORC card via participating merchant, or our online platform, and you’re on your way. Tap your card and complete your purchase by transferring your Orioncoin into easily spendable cash!
Guaranteeing a Buyback Price
We all know the prices of coins in the crypto space can be highly volatile, which leads consumers to question the validity of crypto valuations while cautiously observing the volatility of the market. Orioncoin’s goal is to create a convenient, functional, and valuable coin that removes uncertainty and distrust for users. Through the implementation of an audited and publicly visible reserve, ORC Platform guarantee that the value of Orioncoin is backed by cash. Early on the ORC Platform will set a base price for which the value of Orioncoin can not fall below. However, the value will continue to trail the market price upwards. If at anytime a holder of Orioncoin wishes to sell their Orioncoin, ORC Platform will buy it back at the stated price on its platform online.
Orioncoin in Action
So far we’ve presented the idea behind Orioncoin and our associated ORC platform. Now let’s walk through a viable economic model currently supported in the Orioncoin network.
One of Orioncoin’s affiliates is a housing developer based out of Malaysia and specializing in commercial retail and residential housing , multimillion dollar construction projects. In June of next year, they are breaking ground on their newest development in Alor Setar, Kedah, Malaysia. This project, worth more than $190 million USD, will not be giving traditional cash discounts to early buyers, but instead, they will be issuing Orioncoin as reward. Real estate agents selling their units will also be given a percentage of their commission in Orioncoin instead of cash. And more businesses like hotel, mlm with single product, e- commerce site and etc.
By eliminating the middle men in day to day transactions, Orioncoin and ORC Platform can pass those savings directly to the customers. The value of their holdings will increase as the demand for Orioncoin increases. Thus, with great technological advantages and decentralized ecosystem, making the Orioncoin as an attractive loyalty and reward points compare to the traditional point system.
The Crowdsale
The crowdsale for Orioncoin will begin on December 18th, 2017 and end on March 18th, 2018. We will be accepting Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dash and Qtum.
Our Two Step Approach
During the crowdsale, all participants will receive an ERC20 based Orioncoin Token (ORCT) as a voucher to redeem Orioncoin at a later date. We will issue 65 million ORCT based on an ERC20 token for the purpose of the crowdsale only, and all unsold ORCT will be burned.
Why the ORCT? Orioncoin (ORC) will only be available to swap with the Orioncoin token (ORCT) when the Orioncoin blockchain is launched. We want to ensure that adopters of our coin will receive immediate utility as they await the launch of our blockchain and the ability to transfer their token into our coin. An added bonus of the ORCT ERC20 token is that it can be traded on Ether Delta.
At present, Orioncoin has an estimated launch date for our blockchain of July 31st, 2018.
Some Important Numbers to Note
- Total minable: 136,000,008
- Premined: 9,965,073,628
- Total coin: 10,101,073,636
- Decimals: 7
- Crowdsale Cap: $60 million
In Summary
We feel that the most important piece of information about our project is the network that Orioncoin is built upon and the long term vision our founder/ CEO has for Orioncoin. Even if the crowdsale does not raise the funds we set out to, our project is already backed by a strong network of early adopters and merchants who have agreed to distribute and support Orioncoin. A successful crowdsale will allow our team to create even stronger infrastructure with far superior products and services to anything available in the market today. However, in the event that our crowdsale does not raise the amount of funds to be expected, we will be continuing on with the launch of our coin, along with its platform. The success of the crowdsale does not equate to the success of our project.
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