IOU – The True P2P e-Commerce Loyalty Platform on Blockchain

INTRODUCTION

The rise of global and ubiquitous infrastructures, namely the Internet and the World Wide Web, has brought speed and connectivity to the whole spectrum of Business-toBusiness (B2B) exchanges, from simple document delivery to complete and automated trading procedures. E-business possibilities have led to new B2B models, particularly the emarketplace. Like other business models, the e-marketplace is hardly mentioned today, though once it was thought of as the next big thing. Even if many e-marketplaces have disappeared, most buyers and suppliers would still be eager to identify and exploit new business opportunities. However, the traditional concept of e-marketplace supports a single business model, which is ineffective in dealing with all but the simplest kinds of exchanges. As a result, the traditional concept of an e-marketplace as a broker mediating between buyer and supplier is not suitable for every kind of product transactions, as it was initially expected. This paper explains why the traditional e-marketplace is not entirely suitable for B2B exchanges and proposes a peer-to-peer (P2P) infrastructure in order to overcome these pitfalls. Currently available P2P platforms still lack essential services before they can be applied in a business environment. These services must support the full B2B trading life-cycle from partner selection to contract fulfilment. This paper reports the implementation of the services that support the B2B trading life-cycle, using one of the leading P2P platforms, and the use of these services in an industrial equipment e-marketplace.

As more technological advancements are uncovered, IOU reinvented the existing loyalty system to provide traders with flexibility, control and more benefits to ensure the highest level of customer satisfaction that might occur for marketing expenses incurred.

ABOUT IOU (The True P2P e-Commerce Loyalty Platform on Blockchain)

IOU seeks to reinvent the existing customer loyalty programs in a bid to offer more benefits, control, and flexibility to the merchants. Doing this will make it possible for the merchants to guarantee their clients the best possible consumer satisfaction levels. This will be in exchange for the marketing expenditures already incurred.

The loyalty system being proposed by IOU will make it possible for the business owners to build new interaction levels with their clientele. Additionally, they will also be able to provide an opportunity for their consumers to freely exchange the IOUs in their possession with other consumers. and here, each Consumer truly would become the “agent” targeting other Consumers on P2P exchange seeking to trade their acquired IOUs with other Consumers based on the need and value at the time of the transaction. Such approach allows merchants to obtain a stable influx of new customers and truly loyal customers.

IOU has formalized the preparation of its work with each CEO, CFO and COO (each, “Executive”) by making a written agreement that formalizes their current work requirements. Such work agreements include restrictive agreements such as non-competition and non-solicitation clauses. The employment agreement also stipulates additional provisions by admiring termination, constructive termination, severance pay and alternative controls from the Executive, together with payments between 6 and 18 months of salary, bonuses and profits in the termination tournament within 12 months after the change of control.

IOU remains at the forefront of the fintech revolution that democratizes access to capital for small businesses. IOU expects to continue to develop mortgage origination and generate profits throughout 2018.

IOU closed the first quarter of 2018 with a adjusted large profit of $ 804,088, which excludes certain non-cash and non-recurring items, compared with two adjusted net losses of $ 0.7 million in the first quarter of 2017. Two $ 1.5 million two improvements in adjusted internet revenues basically caused by two $ 1 million minimizing provisions for mortgage losses as well as $ 0.6 million in reduced work costs in different quarters with the final year of the same duration and for two $ 0.1 million extend gross income.

The global trends in digital e-commerce

Total world population: 7,476 billion people.

Urbanization reaches 54%

Internet users: 3,773 billion.

Penetration is 50%

Social media active users: 2,789 billion.

Penetration reaches 37%

Unique mobile user: 4,997 billion.

Penetration is 66%

Active cellular social users: 2,549 billion.

Penetration reaches 34%

Benefits of the IOU E-commerce Blockchain Loyalty System Platform By unlocking promotional offers from merchants via blockchain, consumers and sellers are listed below:

Customer loyalty and retention

All IOU’s obligations will be further developed into the Flagship Blockchain loyalty program for entrepreneurs. Therefore, sellers have access to an efficient and safe way to promote all their special offers to consumers.

Viral marketing

Customers are basically agents for traders. They can target other consumers on peer-to-peer exchanges to exchange the IOU they have with other consumers. This is something that will be based on the value and needs when the transaction is carried out. This is an approach that allows business operators to attract and maintain stable customer inflows.

IOU peer-to-peer exchange

This special exchange is one that is driven by market flexibility. Customers can safely purchase IOU offers from business owners with each purchase with specific conditions for promotional services or products, such as exchange requirements, limited quantities, and expiration dates.

This is a form of flexibility that might give consumers enough time to use their services or products. As an alternative, they also have enough time to exchange IOUs with those who might be interested in them in any location around the world.

IOUX TOKENS UTILIZATION – Token Sale and ICO Details

Merchants must pay 5% Gas fee in IOUX Tokens for every IOU offer issued for Consumers (in addition to the 5% Fee on any purchases made by other crypto currency, while purchases made by IOUX Tokens would be exempt). In exchange, to provide incentives for the IOUX Token holders every IOUX Token transaction would be granted additional 5% Discount to the Consumers. Additional 20 Loyalty Tokens would be given equally each time to both Merchants and Consumers after accumulating transactions of 1000 Tokens.

Merchant would also have an option to Guarantee the Service and issue refunds of payments if product or service offered by their IOU offers was not satisfactory. Thus additional IOUX Tokens would be escrowed until the completion of the term of the IOU Offer. During issuance of IOU offers, Merchants must agree to the Token Discount, Service Guarantee and Gas Fee Terms. This structure would ensure high utilization and demand of the IOUX Tokens.

IOUX TOKEN STRUCTURE

200,000,000 IOUX TOKENS

1 IOUX = $0.28

PRE-ICO 10,000,00040% + VOLUME BONUS

ICO 100,000,000

TOKENS SOLD BONUS,

TIME OF CROWD SALE BONUS,

VOLUME BONUS

Allocated for ICO and Private Sale. Company will burn unsold tokens and use 20% of e-commerce transaction fees on buy-back program to quarterly acquire IOUX tokens from listed exchanges and burn those re-purchased tokens.