Overview Project IOU

Introduction

IOU transforms existing loyalty systems to provide more flexibility, control and enhanced benefits to traders and ensure that the highest degree of customer satisfaction is achieved, taking into account the costs incurred for marketing.

“IOU Loyalty System” allows business owners to create a new level of interaction with consumers and, most importantly, the opportunity for consumers to freely exchange their IOU-offers with other consumers that they need more.

IOU-obligations will become the flagship of loyalty programs on the basis of blocking for traders as a secure and effective way of promoting special offers among consumers.

Each consumer will truly become an “agent” by identifying other consumers on the P2P exchange in order to sell their IOUs based on needs and values at the time of the transaction. This approach allows traders to receive a steady influx of new customers and truly loyal customers.

E-COMMERCE CHALLENGES

In the era of internet, e-commerce is the king. However, this exponentially growing market faces some serious challenges:

1. CUSTOMER LOYALTY

It is a key issue as it takes lots of efforts for companies to make a new customer and maintain the same customer for long time.

One of the reasons why ecommerce companies face the struggle while building trust and loyalty with customer, is because a seller and a buyer don’t know each other, nor they can see each other while making a transaction unlike street-shopping. It takes few transactions, time and plenty of efforts by the company to build the customer trust and loyalty8.

2. ACHIEVING PROFITABLE LONG-TERM GROWTH

Increasing sales is one way to grow the business but in the end, what matters most is profitability. Online retailers must always find ways to cut inventory costs, improve marketing efficiency, reduce overhead, reduce shipping costs, and control order returns.

3. CHOOSING THE RIGHT TECHNOLOGY & PARTNERS

Some online retailers may face growth challenges because their technology is limiting them, or they’ve hired the wrong partners/agencies to help them manage their projects. Retailers wanting to achieve growth must build on a good technology foundation. They must choose the right shopping cart solution, inventory management software, email software, CRM systems, analytics and so much more. In addition, hiring the wrong partners or agencies to help them implement projects may also limit their growth. Online retailers must choose carefully who to work with.

IOU WORK-FLOW ENGINE

IOU offers complete transparency utilizing Blockchain for its Group Loyalty offers with clear visibility, security, speed of processing and traceability of transactions through the decentralized register of all sources. IOU is Offering Merchants and Consumers clear advantages over the traditional e-commerce environment making transactions Cost-Effective and Secure while building ultimate trust between Merchants and Consumers.

Rating mechanism would boost a trust even further. Cost-effectiveness of transactions and global reach of consumers beats the conventional digital payment methods as it removes the middlemen/payment processors that take a big cut.

Not only consumers would feel secure and get significant savings but also they could use their purchased IOUs as actual monetary assets which they will be able to trade with other consumers or sell on the exchange. This is a tremendous benefit of IOU Platform.

Loyalty factor is another huge benefit allowing both consumers and merchants to get rewarded for generating top rated, quality offers and transactions on IOU Exchange.

It is hard not to mention the ability for Merchants and Consumers to donate some IOUs for those in need and get rewarded for philanthropic activities. Company would also place donation requests on special causes and would reward Merchants and Consumers, as well as match such donations to benefit those causes.

TOKEN DISTRIBUTION

Due to the high utilization expectations and the need for expansion capital, the Company will freeze the majority of the tokens (600,000,000) and only release up to 10% per year if necessary for company expansion, Marketing and Loyalty Programs to maintain token liquidity.

Company Management and Founders will reserve 20% of the tokens with 3 years-time based lock-up provisions.

The Company will reserve 28% of tokens only if there is a need for additional expansion capital during the first year of operation. Those unused tokens will be frozen otherwise. 2% of Tokens will be allocated for Advisors and Bounty programs.