Overview of Eurocredit Plus Loyalty Rewards Token
Multibuy has been running their traditional loyalty rewards system since 2005. Whilst extremely successful to date, a traditional rewards system can prove costly to run and manage especially when scaling the expansion to a global market. On such large scales, the central distribution and support is labour intensive, logistically difficult and open to fraud or abuse of the system.
Why are we changing from Eurocredit Plus?
Already proven and highly successful, the expansion of our Eurocredit Plus loyalty rewards system was an obvious opportunity to utilise the efficiencies which Blockchain technology brings. By replacing our traditionally “closed system rewards model” we aim to expand to many new markets, leveraging the innovation of this exciting space. This transition will also allow for the platform to be greatly enhanced and expanded for the benefit of all participants. After the launch, our existing Eurocredit Plus rewards platform will close to new customers and be swapped for our cryptocurrency called MB8 Coin.
Why is MB8 Coin different?
MB8 Coin will be used as the ‘fuel’ for the existing loyalty rewards network. MB8 Coin will be the first ever cryptocurrency that is released with a proven real world use and will be accepted as part or whole payment within the existing network of vendors and retailers. MB8 Coin is set to become the backbone of the rewards network that is already being used under white label by over 2100 businesses.
Why did we opt to run our own Blockchain?
We wanted to add security and transparency to our rewards system. Early tests demonstrated this technology was the perfect fit to replace our current technical solution. Developing our own chain allows us control over the distribution, integration, support and expansion of the network.
A Blockchain based solution
This will allow us to streamline the scaling process and save on running costs. After deeper investigation and consultation, the additional benefits of switching to a cryptocurrency based reward token are:
- Through participation in securing the network you can be rewarded 5% annual growth, in the form of additional tokens.
- MB8 tokens are distributed via an ICO to the public, new and existing business partners.
- Inability to fraudulently issue or create additional MB8 rewards tokens.
- Borderless and immediate transactions, perfect suited to the modern global market.
- Utilisation of the MB8 token via peer to peer gifting and trading on crypto exchanges will allow true price discovery to take place.
- Attract new customers to utilise the rewards platform, as well as bringing many new vendors, businesses and holiday locations to the rewards network.
Multibuy Company and its loyalty rewards system have been growing at a tremendous rate over the last decade. Businesses that have white labelled and utilise the loyalty rewards system to give back to their loyal returning customers are often referred to as being on the Multibuy circuit. All companies on the Multibuy Circuit will accept part or whole payment on products and services with Eurocredit. Many new platforms have been introduced over the last two years to help connect businesses on the Multibuy circuit and the 200,000 + customers using the loyalty rewards regularly. Our most successful platform to date is Multibuy Travel, this is an online platform were customers can book holidays paying up to 100% in Eurocredit with travel destinations registered on the Multibuy Circuit.
Eurocredit will be honoured until existing supply used, Eurocredit has now stopped being minted, Eurocredit Plus is being used during the set up phase in preparation for the existing centralised network moving to a decentralised Blockchain Network. All companies on the existing Multibuy Circuit will be able to accept our new cryptocurrency which is called MB8 Coin.
For a full list of business partners that will be accepting MB8 Coin post ICO is available at www.mb8coin.io
- Book holidays online paying up to 100% with MB8 Coin with a 1 MB8 Coin : 1 Euro Value.
- Buy products online paying up to 70% with MB8 Coin with a 1 MB8 Coin : 1 Euro Value.
- Spend MB8 coin within existing and growing loyalty rewards network.
- Gain 5% p/a additional MB8 Coin rewards through staking.
- MB8 Coin will be listed on exchanges where customers will have the ability to trade the coin for other currencies.
- MB8 coin will be accepted by over 2100 businesses soon after ICO completion.
- The Multibuy App is being re-developed and will soon show nearest accepting business partners.
- Gain MB8 Coin while using the existing rewards platform.
- Reduced costs in running and maintaining the Multibuy rewards system.
- Increased business recognition and new customers from untapped areas.
- Industry first where a rewards system replaces its operating model to Blockchain technology.
- Opens the rewards system to anyone who wishes to participate.
Business Partners Benefits
- Ability to benefit from increased business from new customers and brand awareness.
- Ability to buy and sell the rewards tokens on the open market rather than from a closed source at a fixed price.
- Vendors will receive MB8 Coin at ICO and from all future customer redemptions on offers.
- Ability to accrue 5% additional MB8 Coin rewards p/a. (by staking)