BitRewards
BitRewards
Token: BIT


Blockchain rewards and loyalty platform

ICO dates
Start date: 2018-01-12
End date: 2018-03-31

Registrated in: Russia

Platform: Ethereum
Type: ERC20

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https://bitrewards.network Screenshot
BitRewards categories
Software
BitRewards whitepaper
Video
BitRewards token sale
KYC passing required Yes | Whitelist No | Restriction for countries No
Soft cap 3,000,000 USD
Hard cap 15,000,000 USD
Tokens for sale 1,280,000,000
Token distribution in ICO
64%
64%
Price 1 BIT = 0.00003472 ETH
Acceppting ETH, BTC
BitRewards news, social
BitRewards search trends in Google
Random whitepaper excerpts

Contents
EXECUTIVE SUMMARY......................................................................................................................................................5
T
OKENS

BIT .........................................................................................................................................................................6
MARKET OVERVIEW .........................................................................................................................................................7
P
REFACE
..................................................................................................................................................................................7
L
OYALTY MANAGEMENT MARKET
..................................................................................................................................................8
K
EY PROBLEMS FOR LOYALTY AND REWARDS SOLUTIONS
............................................

Merchant’s dashboard
...................................................................................................................................................25
Retailer’s crypto
-wallet ..................................................................................................................................................25
Auxiliary parts of the system:.........................................................................................................................................25
C
USTOMERS
...........................................................................................................................................................................26
Customer’s loy
alty program dashboard with integrated crypto-
wallet and access to the merchants’ websites
..........26
Mobile applications........................................................................................................................................................27
...

“The r
eceived wisdom that economic inequality is fated to endure and even get worse
makes all of us, in a little way, Marxists. But what if the model of organization that Weber
and his inheritors in economics and sociology found to be the most adapted to competition
and management in modern life has become obsolete? What if power is dispersing,
coming to dwell in new forms and through new mechanisms in a host of small and
previously marginal players, while the power advantage of the big, established, and more
bureaucratic incumbents decays? The rise of micropowers throws open such questions,
for the first time. It holds out the prospect that power may have become remarkably
unmoored from size and scale.”
― Moisés Naím
,
The End of Power
From Boardrooms to Battlefields and
Churches to States, Why Being In Charge
Isn't What It Used to Be
4
...

Executive Summary
Loyalty is trust. Trust is called a new currency,
much
like the bitcoin, because the difference in trust
between a company and its competitor directly translates into how much money each is going to
make.
Every year millions of retailers spend in excess of $20 billion on software that improves the loyalty of
their customers. They need to do that in order to stay competitive in the
today’s
crowded marketplace.
Loyalty programs are not only costly, but also time consuming and cumbersome to set up. Often times,
customers get only more frustrated from participation in them, complaining about difficulty to earn points
or bonuses and to redeem them. This results in the
fact that most loyalty programs just don’t pay
themselves off, and shut down in less than 12 months

time.
We are a team who has worked together for 5 years in GIFTD, an innovative profitable loyalty SaaS
company that helps hundreds of small and medium-sized e-commerc...

BitRewards is compatible with most existing e-commerce systems (Magento, Shopify, WordPress,
Ecwid, etc.). It is easy to integrate and has a simple API.
Tokens

BIT
Internal BitRewards tokens are called BIT and comply with the ERC20 standard. BIT is an internal
currency and is used to conduct all operations within the BitRewards ecosystem.
Customers of the online stores participating in BitRewards Network will receive BIT as a cash-back

a certain configurable amount or percent on their purchases, purchases of the friends that they referred
to the store, shares and likes in social networks and other actions. The cash-back will be credited to
the customer’s automatically created crypto
-wallet connected to the store via BitRewards plugin.
BIT can be redeemed at the same store or with the other BitRewards participating merchants via an
online crypto-wallet connected to the participating merchants. Customer crypto-
wallet’s BIT balance
may also be connected to ...

Market overview
Preface
BitRewards is designed for all types of retailers, but our sweet spot is e-commerce because they
readily
adopt such services and are easy to scale. The e-commerce market has grown consistently
every year, and, according to Statista data, the market will increase more than 70% in the US over
the next five years (from $360 billion in 2016 to $638 billion in 2022).
The rapid growth of e-commerce, the automation of purchase processes and delivery have made this
market extremely competitive. Today customers are more price sensitive, expect more from brands,
and compare prices on a regular basis. Customer loyalty, measured in repeat purchases and referrals,
is the key driver of profitability for online businesses, even more so than for offline companies, according
to a series of joint studies in online retail by Bain & Company.
User acquisition today is one of the most costly activities of any retailer. Statistics say that the average
conversion of traffic into purchas...

switching brands, particularly when the competition is a click away. So retailers must invest in their
customers’ loyalty
. Lots of data shows that loyal customers stay longer, buy more and more often, cost
less to process, help in price competition, tell their friends about their experiences, and provide valuable
feedback.
Loyalty management market
Loyalty systems in retail are designed to reward customers for their past purchases or other useful
actions and to provide them with incentives for making future purchases. A rewards program enables
activation, retention, up-selling and referrals, along with providing strong value offer to the customer. A
typical loyalty management system is comprised of operational parameters, such as transaction types,
program design and funding options. It further includes value parameters such as redemption options,
redemption thresholds, and earnings rates.
And businesses are actively adopting loyalty programs:

63.7% of small businesses plan on...

According to 3Cinteractive, 70% of consumers do not sign up for a loyalty program due to the
inconvenience and time required to complete registration.
Low redemption rates
According to The 2016 Bond Loyalty Report, the percentage of customers who were active members
was only at 50 percent. Out of these members, 20% never redeemed their received bonuses and
rewards. Also, according to this report, loyalty and rewards program members who do not make
redemptions are 2.3 times more likely to defect from one program and join another.
Source: THE 2016 BOND LOYALTY REPORT
Low client retention
Existing loyalty programs give insufficient motivation to encourage repeat purchases. According to
COLLOQUY “Customer loyalty 2015 & beyond report”, the top two reasons
why consumers stop
participating in a loyalty program are: the program did not provide offers that were of interest (56%),
and it was too hard to earn points for rewards (54%).
Increased costs for customer service
Retaile...

BitRewards Roadmap

1
November, 2016 - February, 2017
Development of a points based loyalty system GIFTD designed to reward shoppers. (?ompleted)
2
February – October, 2017
Structuring the concept of using Ethereum blockchain with loyalty and rewards tools and customer development of the cryptorewards for e-commerce industry, team hiring. (?ompleted)
3
October 2017 - May 2018
The full-functioning loyalty system BitRewards for the retailer and the user's crypto-wallet connected to the loyalty program, with access on the website of retailer and BitRewards website
4
March - June, 2018
Retailer Crypto-wallet and liquidity management smart contract
5
June - July, 2018
Integration of loyalty system with Lightning Network and Raiden Network (after the launch of these technologies).
6
June - August, 2018
Customer’s Mobile app with crypto-wallet.
7
July - November, 2018
Introduction of digital gift cards and scanning of loyalty cards into the mobile wallet.
8
September - December, 2018
Mobile SDK for merchants’ apps.
9
January - April, 2019
Integration of AI and machine learning into the BitRewards platform.
10
April - May, 2019
Blockchain based traffic exchange between online and offline merchants.
Alexander Nevidimov
Alexander Nevidimov CTO, Blockchain architecture, Big Data expert

Andrey Kladov
Andrey Kladov Mobile architecture, blockchain

Segey Alisov
Segey Alisov Head of design

Ilya Starovoitov
Ilya Starovoitov Business Development

Slava Zytsar
Slava Zytsar Frontend engineer

Dmitri Semenov
Dmitri Semenov QA engineer

Max Litkevich
Max Litkevich Technical support engineer

Nail Gazizyanov
Nail Gazizyanov Chat-bot, machine learning engineer

Vasiliy Kurkin
Vasiliy Kurkin Fullstack engineer

Sergey Edinin
Sergey Edinin Backend developer

Evgheniy Ahmetgareev
Evgheniy Ahmetgareev Network security engineer

Roman Mukhutdinov
Roman Mukhutdinov Frontend engineer

Ramil Zayneev
Ramil Zayneev Full-stack developer

Alexey Gritsyna
Alexey Gritsyna Business Development, E-commerce

Greg Mann
Greg Mann USA Sales and IR, Board member

Rumen Slavchov
Rumen Slavchov PR, IR, Marketing and Stucturing

Ivan Anichkov
Advisors Ivan Anichkov Advisor Enterprise solutions, Data Expert

John McNaughton
Advisors John McNaughton Advisor Payments processing and finance advisor

Sergey Fradkov
Advisors Sergey Fradkov International scaling and business development

Roman Yankovskiy
Advisors Roman Yankovskiy Legal Advisor

Reuben Godfrey
Advisors Reuben Godfrey Advisor, PR, global scaling

Jason Hung
Advisors Jason Hung Advisor, technology, Greater China scaling

Sergei Repko
Advisors Sergei Repko ICO strategy, marketing, IR

Renat Razumov
Advisors Renat Razumov Advisor blockchain, vision

Nathan Christian
Advisors Nathan Christian Advisor

Alex Linenko
Advisors Alex Linenko Tokenomics, business and financial model, strategy.

Anton Pushkov
Advisors Anton Pushkov Legal Advisor

Anton Soloviev
Partners Anton Soloviev Head of partners, InSales (A leading online stores’ builder)

Roman Gryanko
Partners Roman Gryanko Chairman, Assist (One of the largest Ecommerce payment systems in the Eastern Europe)

Sergey Sidorov
Partners Sergey Sidorov CEO and Founder, PromoSoundGroup.net

Ankit Talwar
Partners Ankit Talwar Founder and CEO, DiscWallets.com

Paul Ryazanov
Partners Paul Ryazanov Founder and CEO, MageCloud.net (Development and services for Magento online stores)

Victor Sadygov
Partners Victor Sadygov Managing Partner Nika Estate (Elite real estate boutique)

Alex Linenko
Alex Linenko
Tokenomics, business and financial model, strategy.
Lead Business Development manager at ICOBox.
Lead Business Developer
Tokenomics, business and financial model, strategy
Advisor
Advisor, Tokenization Expert
Tokenization Expert
Lead Business Development manager at ICOBox
ALEX LINENKO
ALEX LINENKO
TOKENOMICS STRATEGY
Anton Pushkov
Anton Pushkov
Legal Advisor
Legal Adviser
Jason Hung
Jason Hung
Advisor, technology, Greater China scaling
EXTERNAL ADVISOR
Chairman & CSO
BLOCKCHAIN ADVISOR
MBAT Bank co-founder and Entrepreneur
ICO Advisor
Smart Contract Advisor
MBAT Bank Chairman & Co-founder
Blockchain Advisor
Advisor
Advisor
BLOCKCHAIN ADVISOR
Strategy Advisor
Advisor
ICO Advisor
ADVISOR
Advisor-Business
Marketing & PR Advisor
Advisor, Taiwan, Republic of China
Advisor
GFOB cofounder, ICOBench Top Advisor
ICO Advisor & Founder Of Crypto Fund
Nathan Christian
Nathan Christian
Advisor
Advisor
ICO Advisor
Technical experts in blockchain-based accounting and financial applications
Blockchain & ICO Advisor
Advisor
Blockchain Technology Consultant | End to End ICO Solutions |ICO Advisor
Blockchain Expert
Senior ICO-Advisor
Advisor
Advisor
Advisor
Director of Marketing
Business Development & Strategy Adviser
Strategic Advisor
Strategic Advisor
Advisor, Technology consultant San Diego, California
Senior ICO-Advisor
Reuben Godfrey
Reuben Godfrey
Advisor, PR, global scaling
Blockchain Advisor
Blockchain Association of Ireland Business Development, Director, Co-founder
Co-Founder Blockchain Association of Ireland
Community advisor
Business developer in Atlantic Region
co-founder the Blockchain Association of Ireland
Co-founder the Blockchain Association of Ireland, Ireland's Crypto Coast
European Operations Manager
Senior Advisor
Co-Founder, Blockchain Association of Ireland and Irish Chamber of Commerce in Slovakia
Advisor, Ireland
Rumen Slavchov
Rumen Slavchov
PR, IR, Marketing and Stucturing
Chief Relationship Officer - Sales Manager
Chief Relationship Officer | Sales Manager | ICO Marketing
Marketing Advisor
Marketing Advisor
Blockchain & Marketing Expert
ICO Advisor - Strategy Top 12 ICO Advisor
Marketing Manager
Sergei Repko
Sergei Repko
ICO strategy, marketing, IR
Professional Marketing
Sergey Fradkov
Sergey Fradkov
International scaling and business development
Sergey Sidorov
Sergey Sidorov
CEO and Founder, PromoSoundGroup.net
Legal Service