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INTRODUCTION Since the advent of the internet, about some twenty years ago, there's been a steady decline in the sales recorded by ...

MozoCoin: Effectively Connecting Physical Retail Stores To Online Commerce Via Decentralized Blockchain Technology

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INTRODUCTION
Since the advent of the internet, about some twenty years ago, there's been a steady decline in the sales recorded by brick-and-morter shopping malls and retail outlets. This is especially so in the case of those without an online presence.
With the downward trend, there arises a need for these physical or traditional shoping outfits to engage and compete favourably with their online counterparts.
There have been some moves to help these physical malls stay in the game and improve their sales via loyalty points and programs but sadly, these programs often fall short especially with regards to getting consumers to enjoy the dividends of repeat visits to a certain shopping mall. Most consumers and customers most times have no idea about the number of points they have accumulated or even how to convert those points to products. This lack of transparency is just one out of several factors militating against physical shops and the loyalty programs. Another factor is the time constraint on both store owner and customer. People nowadays are looking for convenience and time saving models in everything they do, including shopping. So when there is nothing to incentivize a visit to the retail shop, people tend to shop online where the stress is less and the discounts are often attractive.
The blockchain technology is a disruptive technology that changes the way we do things both online and offline. It is a huge step away from contemporary internet that is centralized with lots of disadvantages around it. And when you couple blockchain technology with the revolutionary IoTs, the result is an amazing working product that encompasses the benefits of both techs to better whatever niche or sector where its implemented.
This is exactly what the Mozo team have done with the development of the Mozo platform aimed at improving the lot of physical shopping malls and outlets.
WHAT IS MOZO TOKEN
The Mozo token is a cryptocurrency designed to reward consumers who visit physical shopping malls and hence turn them into repeat shopping customers. This way, physical shops get an increase in foot traffic which in turn will translate to increase in sales.
The Mozo system is quite different from similar products both blockchain-based and non-blockchain.
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The Mozo system comprises three main components that ensures a global loyalty reward system for all:
  • the Mozo token, a digital asset that is easily liquified and tradeable and built on the universal ethtereum blockchain network
  • a digital and secure wallet that can earn, store and redeem rewards across different merchants in virtually any part of the world as long as there's internet connection
  • smartphone app for easy discoverability of products and services and also for collection of rewards earned.
Mozo has a well defined blueprint that is aimed at being the building block of future blockchain-based development of the retail sector, which is estimated to have an exponential growth in the near future. The Mozo team incorporated certain capabilities in the Mozo project to ensure it remains a fore runner in the sector:
  • IoT enabled devices used to discover services and products
  • loyalty program supported by Mozo, its traditional digital currency
  • working system to bridge the online-to-offline commerce gap
  • proprietary blockchain network, Solo, to handle microtransactions
  • shopper personalization and product recommendation based on data collated.
HOW DOES MOZO WORK
In the Mozo ecosystem, there is the merchant side and consumer side operations. In real life application, Mozo 3.0 is employed,which is the software that ties together Mozo 1.0 and 2.1 to give a wholistic and working product or platform.
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For Merchants:
Mozo offers a Mozo-in-a-box package aimed at incentivizing merchants to try out the different revenue generating offers available on Mozo before committing to a long term partnership.
Registered merchants will be given a certain amount of free Mozo tokens which they will use to reward their customers and also custom-made Sticker and Beacon sensors will be installed in the participating stores and malls. These Beacons can either be mounted on walls or ceilings in cases where thestore owner wants to reward customers for coming into the store, or it can be linked with products or services the store owner will wish customers to discover using the Mozo Retailer App. Ofcourse the customer will also have to have the Mozo app installed in his smart device in order to enjoy this benefit.
For Consumers:
Consumers will also be offered the Mozo-in-a-box package to incentivize them. Further more, registered consumers will be airdropped certain amount of free Mozo tokens once they download the Mozo app from google playstore or apple store.
This is just one of the several ways in which Mozo tokens can be earned, although the airdrop is a one-off thing, since its assumed each consumer will need to download the app just once.
LIQUIFYING MOZO TOKENS
Other ways of earning Mozo tokens include visiting and entering a participating store or outlet, ZAPing or discovring a new product, buy products on the digital marketplace using the Mozo app and other options.
Mozo tokens can be used for regular online or offline transaction for payment when checking out.
There's also the Mozo Redemption Marketplace available on www.smartmozo.com for consumers who have amassed sufficient amount of Mozo tokens. Redemption can come in form of cashback on purchase or discounts.
Another way of liquidating Mozo tokens is by exchanging it for fiat or other crypto currencies on designated crypto exchanges. Both merchants and consumers can sell or buy Mozo tokens on the exchange.
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For more information visit
Author : $crypto$
ETH : 0xC6F915eDAf2656742D8E692FB45E88734B3dbbbb

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