Bron Rewards, a driver for mainstream adoption
Bron Rewards is an app built to facilitate mainstream adoption, it is a vital step to to achieving the bron.tech vision, a stepping stone for the journey towards a decentralised and ubiquitous data marketplace.
What is Bron Rewards?
Bron Rewards is an online rewards app which on-boards users who are incentivised to contribute spending receipt data, shop online, answer fun survey questions and refer their friends. Users who create their MyBron are rewarded with Bron Points and in Bron based on upon what they consent to share. Bron Points are a complementary reward point utilised within the Bron ecosystem. It is similar to existing loyalty programs for example FlyBuys or Woolworth Rewards. Bron Rewards is currently Australia’s fastest growing loyalty program with thousands of submissions per day.
Redefining loyalty programs
Data and loyalty are inherently linked, one difference between Bron Rewards and traditional loyalty models is the nature of data acquisition and ownership. Bron Rewards aims to create a marketplace where individuals can first possess and then monetise their data with inbuilt consent mechanisms. This model is more compliant and efficient when you consider the new data legislation passed in Australia which aims to provide consumers more personal rights in the data landscape. What’s fantastic is that this revised method of value exchange will build bridges for more personalised experience between the consumer and their favourite products and services.
Individuals who are contributing receipt data in exchange for Bron Points also have the opportunity to accumulate Brons, a digital currency, when they link their MyBron/Bron Rewards Wallet with their social media accounts; Facebook, Google, Twitter & LinkedIn, holding these tokens will boost the users ability to earn Bron Points. The Bron is an ERC20 token which is utilised for access to and use within the Bron ecosystem. Similar to other digital currencies and tokens the Bron will soon be tradable on the public market.
Loyalty points are a type of complementary currency which is familiar to all Australians from all walks of life, giving bron.tech an effective catalyst for distributing our token to a larger market of users, going mainstream.
Benefits of Bron Rewards
If a user decided to take control of their data with MyBron, they will be able to interact with the Bron API which can make an array of processes far more efficient and monetise access to data points of their choosing, to be bought in Brons.
For many cases this will be the first time many Bron Rewards users are exposed to and can begin to accumulate a digital currency, the Bron. The Bron provides value to an individual in exchange for providing access to their personal asset, their digital footprint, which until now has largely been exploited. If we consider data to be the new oil, then surely those who create it should be rewarded.
“Adoption is the greatest driver of disruption”
At bron.tech we attribute Bron Rewards as an essential stepping stone to creating a ubiquitous data ecosystem through mainstream adoption.
Distribution of the Bron
A key component to creating a successful digital currency is having a variety of users accumulating your currency and contributing to the ecosystem.
It is essential for any digital currency to distribute its token to as many users as possible if it is to add value to the economy, the size of the network is an important factor when valuing any currency.
One problem bron.tech has recognised with the cryptocurrency market at the moment is speculators are dominating the accumulation of any given currency. While still an essential aspect of an alternative currency ecosystem, speculators have very different motivations to those of users and often no intention utilise the token for its intended purpose. To combat this problem we have initially started distributing the Bron via Bron Rewards and MyBron to as many individuals as possible who are already providing value to the Bron ecosystem, every day.
Many users who sign up to Bron Rewards do not know they contributing to building a decentralised ubiquitous data marketplace. This is very important to recognise. It isn’t in everyone’s interest to understand or become apart of decentralised ecosystems. By interacting with the Bron ecosystem these individuals will begin to be educated on the benefits of decentralised ecosystems. It is essential for bron.tech to provide value to people from all walks of life, regardless of their interests our vision of disruption and mass adoption is to be achieved.
This strategy for distribution is very different to how many other digital currencies go about distribution via token sale events and airdrops. We believe it will provide value to a more distributed sample of people, primarily the general population, not just crypto savvy individuals.
Access to consent driven, ethically derived spending data
Currently there are only a handful of companies with loyalty programs who have access to spending receipt data, and on top of that only a handful of companies who control access to data. There is a data monopoly building it’s time your company approaches data differently.
Receipt data is sought after by most companies selling products, however due to a lack of competition in the data marketplace companies looking for insights must pay a high premium. These insights can sometimes be dated. Updated and requested in real time the Bron data pool produces competitive data products.
The profits from competitive data insights are being passed onto the user via Bron Points.
Bron Rewards aims to give all independent Australian merchants the ability to provide value to users in exchange for their Bron Points. Currently this is done by redeeming vouchers from Bron ‘Featured Merchants’ in exchange for Bron Points, however the goal is for these merchants to distribute points for loyalty and accept Bron Points as a form of partial payment.