BitScan announces the launch of its crowdfunding initiative for the new blockchain loyalty token, Incent through an ICO. Starting October 1, 2016, at 00:01 (GMT), the ICO will go on until 23:59 (GMT) on November 30, 2016. During the ICO period, the company aims to raise between $1 million to $5 million for its digital loyalty token that offers instant, transferable rewards which holds tangible value in the real world.

Incent overcomes the shortcomings of existing loyalty schemes that are costly to run, have low customer satisfaction ratings and restricts the customers from redeeming it anywhere else but with the issuing business. Incent leverages the blockchain technology to offer a shared loyalty scheme where retailers can enjoy a low cost loyalty-as-a-service-solution where they are in control of the deals offered to their audience while keeping profit margins in mind.

The Incent platform is delivered as an easy plugin for merchants, providing them access to a shared customer base with push marketing capabilities. The platform has already developed a proof of concept application which can be accessed here.

Incent ensures instant gratification for shoppers by allowing them to receive rewards directly on their mobile phones or email. They are free to spend these Incent rewards anywhere across the whole Incent retail network, gift to others or even cash out. The reward tokens will be stored in the users' Incent wallet, integrated into an accessible mobile app. The platform has taken a mobile-friendly approach to meet the needs of an increasingly mobile retail market, which also happens to be the fastest growing retail sector.

On-board Businesses

Incent draws its knowledge and insights from BitScan's prior experience as the "#1 Bitcoin business directory". The platform is already in talks with a number of companies interested in being part of the Incent network.

"Our engagement with the merchant community has been very positive. We have taken Incent to a significant number of retailers, all of whom have shown a keen interest in the savings we offer and in our easy-to-use platform. Retailers recognize that current loyalty systems are overpriced and underperforming and are looking for something new,"

Says Rob Wilson, the CEO of Incent.

John Warner, the CEO of Suregreen UK, one of the companies involved in the discussions with Incent says,

"Here at Sure-Green we see great potential in Incent to help us grow repeat business across our wide trade community, through the provision of rewards for customers that our tradesmen really value, at a manageable cost to our business and with no administration overhead."

Waves Platform

Incent has entered into a strategic partnership with Waves Platform, a company involved in the development of an entire blockchain ecosystem, complete with the token issuance, wallets, and a decentralized exchange. Referring to the partnership, the CEO and Founder of Waves Sasha Ivanov says,

"We've built Waves for applications like Incent. I am thrilled to announce our partnership on this exciting project"

Upon successful completion of the ICO, Incent tokens will be distributed to the users' Waves wallets. Incent will also be made available for trading on Waves platform and other third-party exchanges.