Hello and welcome to this blog post about Assemble Protocol ASM White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Assemble Protocol ASM white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Assemble Protocol ASM.
I can ensue you that, you will be able to understand every bits and pieces related to Assemble Protocol ASM after going through the Assemble Protocol ASM white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Assemble Protocol ASM White Paper
Assemble Protocol ASM white paper will be going to provide you, all the information that is needed to get started with Assemble Protocol ASM, including the inspiration for creating, the problem it is trying to solve and the solution proposed by Assemble Protocol ASM white paper.
The ASSEMBLE Protocol is a global reward point integration platform based on blockchain. The goal is to match point providers, point consumers, and retailers. The ASSEMBLE Protocol recognizes the fact that there are still pervasive issues in the reward point market, such as a lack of places where consumers can redeem their points despite the fact that the global reward point market has grown rapidly and aggressively.
A variety of enterprises including airlines, credit card companies, department stores, and outlets have adopted the concept of a loyalty program in order to maximize their profits, attract potential customers, and achieve other marketing goals. Yano Research Group, a Japanese research company, estimated that the Korean reward point market is worth roughly 20 trillion KRW, whilst the global reward point market is worth more than 200 trillion KRW.
Although a number of enterprises introduced loyalty programs solely for marketing purposes and to increase sales, their systems are now already considered outdated and in need of improvement. After all, the reward points are recorded as a liability in point providers’ balance sheets, and yet consumers have almost no opportunity to make purchases with their points. There are three primary problems found in the reward point market.
First of all, the points provided to the customers are recorded as a liability on the point provider’s side, which is basically why points are provided with certain validity dates. Those dates often cause conflicts between companies and customers. From a customer’s perspective, points are regarded as the customers’ personal assets, which are earned as a result of a series of continuous purchases.
Therefore, imposing a certain expiration date or retirement policy to the points actually violates the customers’ property rights. Second of all, customers have very few options to redeem their points within the given validity period, which obviously causes dissatisfaction. At the same time, companies also have difficulties finding and providing more options to customers for redemption.
Lastly, customers’ points are dispersed across various loyalty programs, which complicates the process of point management. This in turn serves as a primary reason why the majority of customers do not recognize their reward points as goods which have equal value. The ASSEMBLE Protocol has come up with three primary missions to address the aforementioned issues.
1) Point Providers (companies) should introduce new places for the customers to use their points, in order to extinguish their accumulated point liabilities and introduce a new way to attract customers.
2) Point Consumers (customers) should not have any limitations on their loyalty points, such as validity dates, and they should get more opportunities to use their reward points in various places.
3) Retailers (individuals or companies) should be provided with new advertisement tools and open up additional sales channels for themselves.
White Paper Link: Assemble Protocol ASM White Paper
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