Coupons are; and have always been, very hot commodities in shopping and retail stores around the world. Some people even obsess with them and collect them religiously with the intention of getting enormous discounts when acquiring all kinds of items and goods. With enough coupons and combinations, people often get some of these services for free!
However, the industry as a whole is in need of revamping, because physical, tangible coupons are being left behind as time shifts and adapt to a digital era and way of doing things. The field needs an urgent upgrade because numerous retail stores are depending on expensive, risky and inefficient pieces of paper, just like old times.
Producing coupons that people can touch, and exchange means that the store needs to spend money on paper or any other material, printing, and others. On top of all that, these coupons are prone to be duplicated or double spent.
As a way of providing the right platform for the digital production and exchange of these coupons without the need of any physical supplies, the Rouge Projects presents itself as a useful alternative, one that keeps up with recent times.
Blockchain technology adapted to the digital coupon system
The Rouge Project, founded by Naira D’Arcollieres and also led by chief architect Christophe Le Bars, is a digital coupon management platform based on the blockchain technology. It is built on Ethereum in the form of decentralized apps.
The Rouge Project’s primary goal is to decrease fraud levels in the field, and also reducing production and fabrication costs while improving the profitability of the whole deal not only for the customers but also for the vendors and advertisers.
With the introduction of the Rouge Project, optimization of the whole digital coupon system will be achieved, and a coupon marketplace will be introduced. Users, advertisers, and retailers will all interact in a trustworthy, secure environment.
The initiative currently discussed eliminates the need for middlemen and promotes the use of different coupons thanks to the advantages of smart contracts and blockchain technology. Additionally, consumers will be able to resell or exchange their tickets with ease.
As one would expect given our current era, the coupon market is becoming paperless and moving to the mobile/smartphone platform, a perfect environment for cryptocurrency and blockchain – based services. The Rouge Project desires to make the industry more efficient.
The Rouge protocol, or Rouge Network to encompass everything it wants to achieve, acts as a suite of smart contracts using a specific coin or digital asset, called the Rouge token, and the Ethereum blockchain is the home of the system.
The Rouge platform is of the open-source variety. This initiative will foster a series of decentralized applications that will allow users to achieve things like successful tracking and automated verification. The Rouge coupon is monetizable, secure, and frictionless.
It is true that paper coupons, thanks to their permanent penetration at the thickest part of our society, won’t disappear overnight. However, it is also a fact that the mobile platform is growing exponentially in this regard: digital coupons users incremented from 60 million to 104 million in three years, ending in 2016. It is very straightforward to link them with CRM solutions, data tools, and loyalty initiatives.
What is the Rouge Project?
The Rouge Project can be defined as a global network that is trustless and permissionless, promoting the use of a decentralized coupon platform among all the actors involved in a typical, paper coupon method: brands, the general public, and content creators or advertisers.
People issuing coupons need to distribute them appropriately to their existing or potential customers, offering a marketing privilege or voucher in the form of a discount on specific products.
Advertisements for marketing coupon is a very enticing way, or strategy, to monetize, so publishers or content creators managing social media outlets, magazines or blogs will try to engage their audiences with a profitable intention.
The users, in turn, will use these coupons to buy new products or those with which they are familiar with, taking advantage of the deals and discounts. It can be a win-win situation for all the parties.
The Rouge Project provides a tech-friendly, blockchain-based atmosphere to keep track of all the coupons, their issuance, their uses and redemption without needing to count them individually. To achieve that, it will use the blockchain ledger as a decentralized database.
The protocol will help fight fraud and duplication problems that have plagued the system since its physical inception. Unsecured coupons can be copied and redeemed several times, causing substantial losses to stores and advertisers.
The backing and peace of mind that a smart contract and the blockchain technology can make a perfect setting for digital coupons. After all, we are talking about saving the time, details and signature of each party involved in a transaction. Rouge will help the industry reach new heights and eradicate some of its most visible flaws.
The Rouge platform will use an open source, ERC20 token that the system will create a fixed supply, which is the Rouge Token (RGE.) Issuers, advertisers, smart contracts and consumers will all use RGE. Having RGE tokens will provide users the possibility to use the protocol.
Every coupon will be introduced to the market with an assigned reserve value, expressed in RGE, and the issuing entity will pay the mentioned reserve value, which corresponds to the max bid that individual issuers can pay for every user acquiring a coupon.
The RGE token acts against spam, abusive behavior and malevolent use of the Rouge Network, while also helping in the price discovery for the CPA (Cost per Acquisition) or CPR (Cost per Redemption) payouts on the platform.
At least in the opening period of this initiative, there will be no premining of RGE tokens, nor any of them will be pre-attributed to any entity, whether they are founders, stakeholders or employees, before the token sale.
However, there will be special RGX token discount vouchers, which means there will be free tokens given as a bonus for participation in the original RGE coin sale. Additionally, there will be no new RGX tokens distribution the last 15 days before the RGE token sale.
The Rouge Project ICO
The Initial Coin Offering (ICO) for the Rouge project will be held in the first quarter of the present year. This Ethereum based open source smart contract-powered digital resource follows the ERC20 token standard.
The plan is for the code to be published before the token sale for audit and community feedback, with an external, independent review also serving as a code checker.
Rouge Project’s ICO details:
Date: first quarter of 2018
Token type: open-source ERC20
Total supply: 1 billion (hard cap)
First token sale: 500 million RGE
Reserve pool (year one): 300 million RGE
Reserve pool (year two): 200 million RGE
Price per token: floating
The coin sale will be performed in batches: the token’s rate will be fixed by ETH helpers, but the precise mechanism and modus operandi are not yet public.
Future Development of Rouge
Of the total 1 billion RGE, only 500 million will be offered in the first token sale. Thinking about the future, developers and creators plan to save 300 million RGE to be locked for a minimum of one year, and 200 additional millions after two years. The total RGE tokens supply can decrease over time, not increase because they can be burned for every unredeemed coupon.
In conclusion, digital coupons represent the future of the industry for advertisers/publishers, retailers and customers in general. The former can receive a higher share of the revenue stream from coupon advertisement; sellers will be able to manage the coupon platform better as well as knowing valuable demographic information about the users, while the latter group can get guarantees and increased value and variety.
Any readers that want to pick up some discount tokens as part of the pre-sale should register interest here.
As far as implementation is concerned, full implementation of the Rouge Network platform is expected during the second quarter of 2018.
Check out Rouge’s White Paper here.
The company’s website is available here.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.