So without any further ado, let’s delve into a detailed review of Shopin’s ICO.
The Shopin Token, which will be used to incentivize retailers and shoppers, will serve as the medium of exchange for accessing data from the shopper in a variety of ways.
Amongst the ways the retailer will use the token to entice the shopper:
- share their data, so that the retailer can better service the shoppers’ needs through recommendations and marketing
- push advertising
- pull advertising
By leveraging the power of the blockchain, Shopin will securely manage your personal data, including online shopping data, personal ID and payment information, and user credit reputation whilst delivering an Amazon-like experience and product recommendation for shoppers on every site they go to.
Shopin effectively solves traditional, multi-retailer reward schemes by pooling multiple rewards from multiple retailers into a single, universal reward system.
Right now, the data market is the most robust market on the earth. Nearly every company and government monitor digital footprints — websites visited, items purchased, emails sent. One dominant property of a decentralized and cryptographically secured ledger is the accessibility to, and ultimately the protection of, consumer data from malicious or exploitive characters.
Distribution of tokens
Ethereum Dev Community
Allocation of Funds
Eran Eyal, CEO
Divakar Rayapaty, CTO
Doron Wesly, CMO
Jeremy Harkness, Blockchain Expert
4 other members of the team
8 other advisors
Shopin is playing along with a macro trend – bringing control of data back to the end user. This is a theme that is common amongst many blockchain projects at the moment. But what makes Shopin unique is that they are approaching the e-commerce sector, which makes a lot of sense when you compare the amount of data that retailers like Amazon gather about users.
In their slide deck, they even mention “Think of it as a decentralized Amazon.” They expect a 266% increase in the revenue for 2018 and they already have 2 pilot programmes with the retailers Bed Bath and Beyond and Ermenegildo Zegna. The future outlook for Shopin is positive and with proven network effects at play for both customers and retailers, we could see exponential adoption if the capital raised from the ICO is deployed effectively.
ANN (20 January 2018)
That sums up my Shopin ICO review. Do you think it’s worth investing? Let me know what you think in the comment section!
Feature image by Mohamed Hassan