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Loycha (LOY) ICO Review

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Loycha is a decentralized social networking platform that is putting users privacy and satisfaction as its first priority. It is an innovative approach towards transparent and independent means of user data ownership, reward on ads and free of speech. It is the first get paid to content creation and sharing ecosystem that leveraged OCR token payments for its reward system.

Essential Information

Ico TimeUnknown – Unknown
Token NameLoycha
Token SymbolLOY
WhitepaperView Whitepaper
Website LinkHome
Price1 LOY = 0.01 USD
PlatformStellar
Soft Cap250,000 USD
Hard Cap1,500,000 USD

More about Loycha (LOY) ICO:

Loycha will disrupt the marketing sector by removing the middleman (the main idea behind Bitcoin and Blockchain) and enabling the companies and their customers to interact directly in a win-win model. The model created by Loycha will enable companies to do their marketing and spend their money directly on their target audience by paying their target audience based on smart-contract advertisements (pay target audience on per click, per view, per download, per purchase etc.). So, instead of paying middle-men like Google, Facebook and other companies that sell advertisements, companies will be able to compete and advertise on their own and dedicate the goods to their customers.

We are here to change the way the Loyalty Systems are working, moreover, we are developing a new loyalty network platform for a new era in Blockchain, which will make loyalty programs functional again. In order to achieve this, we will utilize Blockchain, Smart Contracts and mobile
applications. Our plan is to become a leading player in the world of loyalty, as Airbnb is in providing accommodation services without owning real estate, and Uber is in providing transport services without owning vehicles.

The real part of the revolution that our team will bring, is that customer data residing on our loyalty application will belong to the customers and only they will own it. As we all know, private customer data, like activities with airlines, car rental companies or even in any social media environment etc. all remain in the corresponding companies’ databases even if we wish to switch to another company or software. With Loycha, the data will not need to move anywhere. It will remain in the customer’s personal database and customers will be able to choose who will see their data. This operation will be as easy as opt-in and opt-out in a mobile application to show and hide these data from partners. New partners will be able to easily see customers activities and probe customer loyalty value and customer metrics.

Partners will be able to join and be a part of the Loycha at ZERO COST. There are no joining fees or implementation fees. Partners will not incur any hardware cost. Partners will have partnerships with all other Loycha partners and be able to execute cross-marketing campaigns and gain new customers from the Loycha partner network.

Loycha will disrupt the marketing sector by removing the middleman (the main idea behind Bitcoin and Blockchain) and enabling the companies and their customers to interact directly in a win-win model. The model created by Loycha will enable companies to do their marketing and spend their money directly on their target audience by paying their target audience based on smart-contract advertisements (pay target audience on per click, per view, per download, per purchase etc.). So, instead of paying middle-men like Google, Facebook and other companies that sell advertisements, companies will be able to compete and advertise on their own and dedicate the goods to their customers.

We will raise the needed funds using crypto financing or as its better known, ICO (Initial Coin Offering).

A short introduction

According to COLLOQUY, loyalty industry market capacity is around 50 billion dollars. The same report states: ”​U.S. customer loyalty program memberships have increased to 3.8 billion since COLLOQUY’s 2015 Loyalty Census report. The rate of growth slowed, however, to a 15% increase over two years, compared to a 26% increase over the two years prior to the 2015 census report”​

But despite this, below you can find some statistics from a detailed research from the same company in 2017.

  • 46% of al loyalty members have active memberships and 54% inactive memberships
  • 59% said they usually ignore an irrelevant piece of brand communication.
  • 57% It took too long to earn points or miles for rewards.
  • 53% The loyalty program did not provide rewards/offers I was interested in.
  • 38% The loyalty program sent too many communications.
  • 36% The loyalty program communications were irrelevant.
  • 32% of Canadians report feeling overwhelmed by the number of loyalty programs available to them.
  • 57% of consumers have left a program because it took too long to earn rewards, and 53% of consumers have left because a program did not provide rewards they were interested in.

So the problem is that loyalty systems provide everything ​but loyalty. They cannot achieve personalisation, targeted marketing, increase rewards, process them in real time, enable great customer experience, increase the number of services and products where customers can spend their coins, increase the number of partners, etc.

A new loyalty era in Blockchain

We are here to change the way the Loyalty Systems are working, moreover, we are developing a new loyalty network platform for a new era in Blockchain, which will make loyalty programs functional again. In order to achieve this, we will utilize Blockchain, Smart Contracts and mobile applications. Our plan is to become a leading player in the world of loyalty, as Airbnb is in providing accommodation services without owning real estate, and Uber is in providing transport services without owning vehicles.

The real part of the revolution that our team will bring, is that customer data residing on our loyalty application will belong to the customers and only they will own it. As we all know, private customer data, like activities with airlines, car rental companies or even in any social media environment etc. all remain in the corresponding companies’ databases even if we wish to switch to another company or software. With Loycha, the data will not need to move anywhere. It will remain in the customer’s personal database and customers will be able to choose who will see their data. This operation will be as easy as opt-in and opt-out in a mobile application to show and hide these data from partners. New partners will be able to easily see customers activities and probe customer loyalty value and customer metrics.

Partners will be able to join and be a part of the Loycha at ZERO COST. There are no joining fees or implementation fees. Partners will not incur any hardware cost. Partners will have partnerships with all other Loycha partners and be able to execute cross-marketing campaigns and gain new customers from the Loycha partner network.

Loycha will disrupt the marketing sector by removing the middleman (the main idea behind Bitcoin and Blockchain) and enabling the companies and their customers to interact directly in a win-win model. The model created by Loycha will enable companies to do their marketing and spend their money directly on their target audience by paying their target audience based on smart-contract advertisements (pay target audience on per click, per view, per download, per purchase etc.). So, instead of paying middle-men like Google, Facebook and other companies that sell advertisements, companies will be able to compete and advertise on their own and dedicate the goods to their customers.

We will raise the needed funds using crypto financing or as its better known, ICO (Initial Coin Offering).

Why LOYCHA is a game changer in Loyalty?

Loycha is not just another coin. We believe that blockchain is a revolution in technology as the internet was for our lives. The loyalty program fit with blockchain makes sense more than any other sector, as it was already using virtual money (points and miles) but in centralized systems and using dated technology with the same types of rehashed rules. To create a loyal customer in the blockchain era, loyalty program thinking has to be adapted to create new methods and thus, opportunities.

While the loyalty industry is growing, the majority of loyalty programs focus on revenue over and above customer loyalty, which creates a mismatch in needs and expectations.

Loycha aims to change this, to change the game and to bring customers more of what they want. Below you can find some existing problems and ​our solutions​​ to these problems.

PROBLEM #1

Expiring points

Most loyalty systems have rules that make customers collect points which expire after a period of time. It is unacceptable from the customer’s perspective to lose what they have earned. Companies may reduce their liability however customers become less engaged and any potential satisfaction with the loyalty program is lost.

SOLUTION #1

Never expiring coins

Coins that customers have in their Loycha wallets will never expire. So they will not have to worry about expiry dates and will always have time to collect the required coins for awards. We believe this will increase redemption ratios, in turn increasing customer loyalty and satisfaction.

PROBLEM #2

​​Spending a lot and earning very little

Most loyalty program rewards are a very small portion of customer spend. Spending 100$ and receiving between $1-$3 does very little to incentivise customers to spend more with one particular loyalty program.

SOLUTION #2

Higher percentages of earning from partners

The partnerships that we will enable partners to offer higher percentages back as rewards. We believe that companies that offer 20-50% discounts on their products from time to time, can offer a higher percentage rewards instead of (and in some cases as well as) discounts. This will be incentivised with a wider partner network and a larger potential customer reach. Partner cross-marketing capabilities will also be provided.

The partnerships that we will enable partners to offer higher percentages back as rewards. We believe that companies that offer 20-50% discounts on their products from time to time, can offer a higher percentage rewards instead of (and in some cases as well as) discounts. This will be incentivised with a wider partner network and a larger potential customer reach. Partner cross-marketing capabilities will also be provided.

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