The Ovato platform seeks to revolutionize the loyalty rewards industry, social media and charitable causes. Its objective is to address the fractures that undermine full-scale participation and lead to a value leak from the existing ecosystem by using a blockchain approach.
At the moment, loyalty reward schemes are costly since they impose an unnecessary tax liability on the operators providing service. But the value these services provide to the consumer is minimal and this explains inactivity among subscribers. This lack of enthusiasm dilutes the whole point of reward schemes both for the target consumers and business operators.
Businesses consider loyalty programs a long-term debt and as a result have to implement periodic blackouts to make them cost-effective. This dilutes brand perception among clients. Consumers have also learned to pick only those programs with high flexibility and benefits to them.
Social media and charities are other industries gravely in need of a revolution. Social network users have become aware of the multi-billion industry that operates at their expense but does not lead to any gains for them. Companies collect data from them and use it to educate and entertain but the data owners are not getting any compensation. On the other hand, charities now realize that 90% of their donations never really get to their destinations. This is because of the failures of centralized ecosystems.
An All-Inclusive Approach
The Ovato token offers a holistic approach to dealing with the issues in every one of these sectors. The platform plans to offer significant discounts on daily shopping as well as rebates and loyalty rewards for using the Ovato network. It will also assist merchants to market directly to their target audience eliminating costly intermediaries.
Shoppers who share these special offers on their social media networks will earn rewards thus getting an incentive to keep the marketing cycle active. The final step will be to set the giving industry free by making funds allocations directly from the platform’s blockchain to phase out leakages in the process.