ICO Analysis: RainCheck ICO Review


 RainCheck ICO Evaluate: A complete evaluate and evaluation on RainCheck ICO, which goals to disrupt the online-to-offline commerce house.

This represents the author’s private opinions and doesn’t – in any way- represent a suggestion of an funding or monetary recommendation. Please assume warning when investing in cryptocurrencies and accomplish that at your individual danger, as this can be very unstable and you’ll lose your cash.

Overview

Raincheck is an online-to-offline (O2O) commerce platform that enables retail manufacturers to trace and affect on-line product discovery to bodily, in-store gross sales. On the consumer finish, Raincheck platform permits them to supply for merchandise on-line and be notified – at a contextual and related time – when the product is offered in close by shops. Concurrently, customers shall be notified of varied provides and rewards that’s presently relevant to them.

Raincheck plans to create a whole the O2O loop by integrating a decentralized peer-to-peer (P2P) loyalty and fee community into their present commerce platform. The final word purpose is to succeed in all information factors and stakeholders inside the online-discovery and offline-purchasing loop.

Listed below are the next issues that Raincheck goals to unravel:

Absence of Offline Information Analytics: Statistics present that 85% of individuals are more likely to browse for merchandise on-line and make a purchase order bodily on the retail retailer. Although it’s simple to collect shopper behavioral information on-line, present know-how prevents information to be gathered as soon as customers go away the web retailer
Damaged Buyer Loyalty: The present loyalty packages are confronted with apparent weaknesses; most individuals don’t use their loyalty factors since they might by no means accumulate sufficient factors for a worthwhile reward. Moreover, loyalty packages can accrue vital liabilities to companies.

(See extra: A Information To Elementary Evaluation For Cryptocurrencies)

Interview with Founders

We had the chance to have interaction in a high-level interview with RainCheck’s Founder & CEO, Cameron Wall. We requested a number of essential questions on RainCheck based on a number of metrics. Take a look on the interview under:

Software

Raincheck goals to offer customers with a customized procuring expertise whereas enabling companies to measure digital advertising and marketing spend offline,the place most gross sales happen. That is achieved by their patent-pending commerce platform that enables companies to trace online-to-offline gross sales cycle and in addition allows card-linking loyalty capabilities for consumer’s debit/bank cards.

Card-linking is a strategy of linking up customers funds playing cards (debit/bank cards) on to a service provider’s loyalty program, digital provide and cash-back bonuses.

Right here is the overall overview of the Raincheck platform:

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The Raincheck platform is split into 10 interconnected modules that may function on a number of situations, with every module being as open as potential to allow huge third-party acceptance. All situations are based mostly on the AWS Cloud Setting. Now, you will need to perceive that the Raincheck platform makes use of a centralized construction because it makes use of Amazon’s AWS cloud server. The combination of  blockchain performance comes on the subsequent step, which is on the fee processing community.

(Learn additionally: Class of Cryptocurrency Market: Blockchain Platform)

Tokenization of Funds Information

As a way to efficiently hyperlink offline gross sales information with on-line information, information concerning the fee networks must be built-in into the general framework. That’s the reason Raincheck will tokenize private information related to a funds card (debit/bank card). This token-based system will seize the offline-to-online information that’s accessible at product (SKU) degree slightly than the merchant-level, which beforehand has been uncommon. Right here’s an instance:

Service provider-Degree Promotion: Spend $200 at service provider ABC tomorrow and obtain $2O cash-back
Product (SKU) Degree: Purchase product CDE tomorrow and obtain 20% cash-back or 30 loyalty factors

Tokenizing fee card information and integrating it to a standard Buyer Relationship Administration (CRM) system would create a extra customized system for finish shoppers. Right here is how the token-based system will work within the higher scheme of issues:

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Stakeholders

The core performance of the Raincheck platform will allow monitoring, measuring and rewarding customers from on-line product uncover to bodily, in-store buying. Listed below are the benefits that stakeholders will achieve utilizing the Raincheck platform:

Customers: Buyers can use Raincheck’s free service to be rewarded by simply discovering on-line merchandise and shopping for them at a later time (each on-line or bodily outlets) by rebates, reductions and cash-backs
Retail Companies: Companies would be capable of collect important shopper behaviour information from O2O gross sales which beforehand would have been unattainable, which may now be used of their advertising and marketing evaluation.
Cost Processors: The likes of Paypal and Stripe can now seize offline gross sales derived from on-line discovery and will increase their income channels by commissions or charging charges through the O2O cycle
Monetary Establishments: Banks can create extra customized card schemes for his or her clients by accessing SKU-level information
Channel Companions: Distributors equivalent to on-line publishers might signify new income channels for companies

(See extra: Information to Cryptocurrency Liquidity: Understanding Liquidity & Its Significance)

Technical Overview

The Raincheck platform shall be made up of the prevailing centralized commerce platform (fueled by AWS server) with a decentralized element which is the Loyalty & Rewards platform that’s constructed on the Stellar Community. Stellar was chosen since it’s a high-throughput, decentralized blockchain with low latency and powerful safety. Right here is the technical overview of Raincheck’s platform:

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Distinctive Promoting Level

There are a number of parts that make Raincheck stand out:

Patent-Protected Know-how: Raincheck ‘s know-how is presently patent-pending and as soon as granted, will function a powerful moat to discourage opponents in a profitable market.
Finish-to-Finish Information Factors Bridging the On-line and Offline World: Raincheck’s answer will focus on the Inventory Preserving Unit (SKU) degree as a substitute of solely the service provider and spend degree that’s the established order of the business. Which means that your complete information level from when an internet product is found to when it’s bought in an offline retailer will be gathered and utilized.

(Learn extra: Information to Blockchain Protocols: Comparability of Main Protocol Cash)

Group

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Cameron Wall (CEO) leads the group with a belt of entrepreneurship ventures centered on cell and net improvement for international enterprises. His experience in cell and cloud-based purposes is a pure match for the enterprise. William Lin (CTO) heads the technical finish, with experience in cloud based mostly backend and front-end improvement of net platforms and cell purposes. Though Raincheck’s web site and whitepaper mentions William’s experience in machine studying, synthetic intelligence and blockchain methods, there isn’t a indication of these expertise as per his earlier working expertise. The enterprise finish is headed by Peter Bremner, who has sturdy company and authorities hyperlinks from his established company background.

There are 8 different group members that takes on blockchain improvement, synthetic intelligence and cell improvement.

(See extra: Information on Figuring out Rip-off Cash)

Advisers

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Raincheck incorporates a complete listing of advisors with experience in every technological layer of the Raincheck platform, from the know-how facet to the retail facet. Leveraging the experience of a wide-array of specialists from the technical and enterprise facet is at all times a great indicator.

Although complete, there appears to be no distinguished advisors for Raincheck.

Traction

There are 4 indicators of Raincheck’s progress to this point. They embrace a pilot program, cell purposes, browser extensions and awards they’ve achieved.

1. Pilot Program

Raincheck has efficiently engaged in a pilot initiative of their platform in 2017. The 6-month pilot section in Australia noticed 6 retailers leveraging on Raincheck’s platform. The approximate variety of customers have been 2,675.

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The pilot program shed a number of fascinating insights that supported Raincheck’s speculation that folks would save on-line merchandise they’re found for a later level sooner or later. It additionally revealed that the bodily retailer represents crucial channel of gross sales acquisition for retail manufacturers.

2. Cell Software

Raincheck has a cell app each within the Google play retailer and the Apple retailer. Right here is how the app appears like:

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Here’s a take a look at the critiques of the cell app from each Google and Apply playstore:

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The amount of critiques is inadequate for a reputable conclusion for the reason that app has gained a restricted evaluate fee, which might be simply manipulated. The set up charges, which is a greater indicator of consumer reception appears to point minimal traction, with the Google play retailer gaining solely 500+ installs. Given the paunch of the cell app in 2016, this appears to point lacklustre traction amongst customers.

3. Cell Extensions

Raincheck has additionally developed browser extensions for its utility, each in Chrome net retailer and Apple’s Safari. Nevertheless, the quantity of customers which have downloaded the extensions aren’t convincing of Raincheck’s traction:

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Chrome’s model has solely amassed 44 customers of Raincheck’s utility, which is extraordinarily small. This isn’t a great indicator of Raincheck’s traction.

4. Awards

On the awards entrance, Raincheck has raked up a number of awards that embrace these from Visa and Accenture. Listed below are the accolades that they’ve obtained:

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Awards are positively a constructive indicator of a powerful undertaking idea. Successful a number of awards from distinguished establishments places Raincheck a step forward of many ICOs that haven’t reached this degree of recognition.

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Token Economics & Utility

Token Metrics

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35% of the overall pre-mined provide of Raincheck’s native tokens shall be distributed on the ICO. This can be a comparatively decrease allocation in comparison with different ICOs, which normally allocates upwards of fifty% of their token provide to the ICO. A decrease ICO allocation equates to higher centralization of the token provide, which might be unnerving for traders. Thankfully, Raincheck is clear about its token provide breakdown. Listed below are the vesting schedule for various classes of their token distribution:

Strategic Pool: Tokens shall be reserved over a 3 12 months interval and shall be allotted to strategic companions and enterprise organizations to stimulate participation and traction.These organizations could be supplied a possibility to buy RAIN tokens at market charges
Group: Tokens shall be vest 12 months from the beginning date of the sale interval, to align staff with long-term goals
Advisors: Tokens shall be frozen for six months from the top of the general public sale interval and can then vest over a 24 month interval
Rewards Pool: Leftover ICO tokens shall be transferred to the rewards pool, which shall be used as to reward participation within the ecosystem and promotion of Raincheck. There will even be a token-burning mechanism the place RainCheck will periodically purchase again and burn RAIN tokens utilizing the revenue generated from the O2O procuring and abroad commerce enterprise

Raincheck’s $28 million hardcap is on the greater spectrum of ICO funding, which is kind of shocking given the bear market the overall cryptocurrency market has been experiencing for the reason that begin of the 12 months. It will likely be extraordinarily arduous for Raincheck to hit their hardcap given the state of the market.

(Learn extra: Analyzing Cryptocurrency Danger: Current Cash vs ICO)

Token Utility

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Raincheck will function its personal utility token that is named RAIN, which shall be used as the first foreign money inside the Raincheck platform. Customers have to possess RAIN tokens to entry the vary of companies and features on the platform. Listed below are the use-cases for RAIN token:

Medium-of-exchange between retailers and customers
Worth unit inside Decentralized Autonomous Organizations (DAOs), which shall be staked by manufacturers in relation to their group membership
Rewards buying and selling between completely different loyalty packages and schemes

These use-cases will gas the demand for RAIN tokens. Given the mounted provide of pre-minted tokens, the long-term worth of RAIN is straight tied to the success of Raincheck’s platform. Moreover, the burning mechanism employed by Raincheck to buy-back and burn RAIN utilizing operational earnings would serve to reinforce RAIN’s long run worth provided that its provide would periodically lower.

Roadmap

Right here is the roadmap for Raincheck:

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Raincheck has a protracted monitor file when in comparison with the vast majority of ICO tasks. It was established means again in 2014 and has launched its platform in 2016. Shifting ahead, the completion of Raincheck’s answer might stretch so far as the 2nd quarter of 202, which is a great distance forward.

(See additionally: Information to Forks: Every little thing You Must Know About Forks, Onerous Fork and Gentle Fork)

Strengths

First On-line-to-Offline Commerce Answer: Raincheck has created an end-to-end options to seize offline retail information together with on-line shopper information, which might show invaluable to manufacturers and companies in understanding their shoppers extra.
Scalability: Raincheck’s platform is constructed on the Stellar blockchain, which may course of far more transactions that its opponents constructed on the Ethereum blockchain. This deal with scalability is significant in guaranteeing that Raincheck’s platform can scale with extra transactions in a viable method.
Observe File: Raincheck has been working for near 4 years, which places it on the greater percentile of ICO tasks with a monitor file and a working product.
Accolades: Raincheck has received a number of awards and recognition from distinguished institutions equivalent to VISA and Accenture for his or her undertaking, which is an effective signal of credible undertaking mannequin.
Patent-Safety: Raincheck’s core system is patent-pending, which if granted, permits for higher obstacles to entry for future opponents

Weaknesses

Centralized Core System: Raincheck’s core system is constructed on an AWS, centralized server with the decentralization side coming from its loyalty & rewards platform. Since its core system is centralized, it’s weak to numerous dangers which might be mitigated utilizing a decentralized system.
Little Traction: indicators of traction through cell utility and browser extension downloads, the numbers are small contemplating Raincheck has launched them in 2016. This can be a signal of poor consumer attraction in direction of Raincheck’s options.
Little Hype: There appears to be restricted assets and publications surrounding the potential impacts of Raincheck’s options, which might considerably improve commerce business

Abstract

Raincheck provides a viable answer in bridging the web commerce world to the bodily, in-store gross sales cycle that may show invaluable to retail companies which might be gearing in direction of a extra data-centric method in understanding the shoppers. Although Raincheck’s decentralized loyalty platform and token-based construction, the ultimate piece of a whole online-to-offline commerce answer might lastly be in the way in which for the business.

Verdict: Good Undertaking

(Learn additionally: Evolution of Cryptocurrency: The Downside With Cash At present)

Helpful Sources To Get You Began

In the event you’re beginning your journey into the complicated world of cryptocurrencies, here is an inventory of helpful assets and guides that can get you in your means:

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Buying and selling & Trade

Wallets

Learn additionally: Information on Privateness Cash: Comparability of Nameless Cryptocurrencies and Information To Cryptocurrency Buying and selling Fundamentals: Do Charts & Technical Evaluation Actually Work?

This represents the author’s private opinions and doesn’t – in any way- represent a suggestion of an funding or monetary recommendation. Please assume warning when investing in cryptocurrencies and accomplish that at your individual danger, as this can be very unstable and you’ll lose your cash.

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