29 Sep '16, 7am

#Cryptocopia Hangout #1 - AMA Transcript with $Waves and $Incent

#Cryptocopia Hangout #1 - AMA Transcript with $Waves and $Incent

: “Ok, so the traditional loyalty rewards industry, you would go through a lot of accounting to put that kind of structure in place. So you can count what you’re issuing, and make sure you report against your liabilities to the taxman, etcetera. Incent is very different in that; firstly the accounting is outsourced to the blockchain and secondly because the token can be spent beyond the walls or the limits of the issuing merchant. There is no (reward system) like it. Finally, with Bitscan acting as the primary broker, the merchant never has to take possession of or touch the token. It’s completely under the bonnet (under the hood). What’s happening is that when someone makes a purchase, Bitscan is instructed electronically at the point-of-sale to issue and announce the digital value or amount of tokens to that wallet. A wallet is linked by a telephone number, or an email, ...

Full article: http://coremedia.info/index.php/waves-news/item/323-crypt...

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