It’s Time to Do Away with Traditional Coupons and Place Them on the Blockchain

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You never change things by fighting the existing reality; to change something, build a new model that makes the existing model obsolete. Buckminster Fuller, 20th-century architect and theorist Blockchain tech allows business transactions to be secure in a world where everything from your Facebook profile to your entire business model can be hacked. But it’s the unseen fraud and tactics that go unnoticed which companies and security experts need to worry about as well. Too Costly and Burdensome For those who still receive the Sunday newspaper, there is still the excitement of all those coupons you get to clip for upcoming sales. But for most people these days, it’s all about pulling deals up on your phone or email. According to a Business Wire report, as of April 2017, of the 293 billion coupons distributed across the US, 1.3% of them were digital, while the rest were paper. It is extremely costly and tedious for parties to spend the time planning, creating, and managing the distribution of all those coupons. On average, paper coupons typically cost two to four times more than digital coupons do. A recently-launched blockchain platform, A7 Core, is addressing issues affecting the coupon industry, aiming to reduce the cost of creating, distributing, funding, and managing digital coupons for brands and retailers while providing highly effective fraud control. Evaluating a Coupon’s Lifespan Did you know US millennials are emerging as heavy users of coupons? So much so that they are even willing to search non-traditional sites to find them. The average coupon campaign…
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