Gatcoin Whitepaper

Abstract

Consumer rewards, discount codes and store coupons are, for the most part, illiquid. For a variety of reasons,
consumers possess a disproportionate amount of coupons for stores they don’t visit, products they don’t
want or loyalty points they do not take redeem. Merchants and big chains devote a lot of resources to keep
track of rewards, and to market their programs. However only a small percentage of these get converted
into products people actually buy, resulting in significant wasted resources. Eventually users are paying for
rewards they don’t use. GATCOIN is a platform which allows the secure exchange of Merchant Rewards
and enables low cost cross-border payments and microtransactions. This will add liquidity to currently
unused (and often thrown away) coupons and loyalty rewards. Being able to exchange these Merchant
Rewards creates a situation where they have actual value to someone. And as they have value they are no
longer considered spam. Doing this on the blockchain means anyone can see and verify transactions and
check the token supply. Blockchains offer the possibility for unique (and uniquely verifiable) items. As
they are digital rewards for a multitude of stores, brands and merchants, they can be carried on a
smartphone, without the need to carry around coupons or loyalty cards. Having them on a smartphone
means a precise geolocation can be used to offer specific airdrops. Further, exchanging and spending
Merchant Rewards and performing transactions from a smartphone wallet creates a variety of valuable data.
This anonymized data can be bundled and presented to merchants and brands, giving them the opportunity
to target specific groups of users according to their interests, demographics or location, instead of spamming
heterogeneous groups of people all together.

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Gatcoin Whitepaper

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