ICO Evaluation: RainCheck ICO Overview

 RainCheck ICO Overview: A complete assessment 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 advice of an funding or monetary recommendation. Please assume warning when investing in cryptocurrencies and achieve this at your individual danger, as this can be very risky and you’ll lose your cash.

Overview

Raincheck is an online-to-offline (O2O) commerce platform that permits retail manufacturers to trace and affect on-line product discovery to bodily, in-store gross sales. On the person finish, Raincheck platform permits them to supply for merchandise on-line and be notified – at a contextual and related time – when the product is out there in close by shops. Concurrently, customers shall be notified of varied affords and rewards that’s at present 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 last word aim is to achieve all knowledge factors and stakeholders throughout the online-discovery and offline-purchasing loop.

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

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

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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 in keeping with a number of metrics. Take a look on the interview beneath:

Utility

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

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

Right here is the final overview of the Raincheck platform:

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

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Tokenization of Funds Information

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

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

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

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 acquire 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 have the ability to collect crucial client behaviour knowledge from O2O gross sales which beforehand would have been unattainable, which may now be used of their advertising evaluation.
Fee 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 personalised card schemes for his or her prospects by getting access to SKU-level knowledge
Channel Companions: Distributors akin to on-line publishers might characterize 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 present 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 robust safety. Right here is the technical overview of Raincheck’s platform:

Distinctive Promoting Level

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

Patent-Protected Expertise: Raincheck ‘s know-how is at present patent-pending and as soon as granted, will function a robust 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 Conserving Unit (SKU) stage as an alternative of solely the service provider and spend stage that’s the established order of the business. Which means that all the knowledge level from when a web-based product is found to when it’s bought in an offline retailer may be gathered and utilized.

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Group

Cameron Wall (CEO) leads the group with a belt of entrepreneurship ventures targeted on cellular and internet improvement for world enterprises. His experience in cellular and cloud-based purposes is a pure match for the enterprise. William Lin (CTO) heads the technical finish, with experience in cloud primarily based backend and front-end improvement of internet platforms and cellular purposes. Though Raincheck’s web site and whitepaper mentions William’s experience in machine studying, synthetic intelligence and blockchain techniques, there is no such thing as 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 cellular improvement.

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Advisers

Raincheck incorporates a complete record 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 consultants from the technical and enterprise facet is at all times indicator.

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

Traction

There are 4 indicators of Raincheck’s progress to this point. They embody a pilot program, cellular 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 part in Australia noticed 6 retailers leveraging on Raincheck’s platform. The approximate variety of customers have been 2,675.

The pilot program shed a number of attention-grabbing 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. Cellular Utility

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

Here’s a have a look at the opinions of the cellular app from each Google and Apply playstore:

The quantity of opinions is inadequate for a reputable conclusion for the reason that app has gained a restricted assessment price, which could possibly be simply manipulated. The set up charges, which is a greater indicator of person reception appears to point minimal traction, with the Google play retailer gaining solely 500+ installs. Given the paunch of the cellular app in 2016, this appears to point lacklustre traction amongst customers.

3. Cellular Extensions

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

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

4. Awards

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

Awards are positively a constructive indicator of a robust mission idea. Profitable a number of awards from outstanding establishments places Raincheck a step forward of many ICOs that haven’t reached this stage of recognition.

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Token Economics & Utility

Token Metrics

35% of the entire 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 could possibly be unnerving for buyers. Happily, 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 yr interval and shall be allotted to strategic companions and enterprise organizations to stimulate participation and traction.These organizations can 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 workers with long-term aims
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 can even be a token-burning mechanism the place RainCheck will periodically purchase again and burn RAIN tokens utilizing the revenue generated from the O2O purchasing and abroad commerce enterprise

Raincheck’s $28 million hardcap is on the increased spectrum of ICO funding, which is sort of stunning given the bear market the final cryptocurrency market has been experiencing for the reason that begin of the yr. Will probably be extraordinarily exhausting for Raincheck to hit their hardcap given the state of the market.

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Token Utility

Raincheck will function its personal utility token that known as RAIN, which shall be used as the first foreign money throughout the Raincheck platform. Customers must possess RAIN tokens to entry the vary of companies and capabilities 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 applications and schemes

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

Roadmap

Right here is the roadmap for Raincheck:

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

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Strengths

First On-line-to-Offline Commerce Resolution: Raincheck has created an end-to-end options to seize offline retail knowledge along side on-line client knowledge, which might show invaluable to manufacturers and companies in understanding their customers extra.
Scalability: Raincheck’s platform is constructed on the Stellar blockchain, which may course of rather more transactions that its opponents constructed on the Ethereum blockchain. This concentrate on scalability is important 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 increased percentile of ICO tasks with a monitor file and a working product.
Accolades: Raincheck has gained a number of awards and recognition from outstanding institutions akin to VISA and Accenture for his or her mission, which is an efficient signal of credible mission mannequin.
Patent-Safety: Raincheck’s core system is patent-pending, which if granted, permits for higher limitations to entry for future opponents

Weaknesses

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

Abstract

Raincheck affords a viable answer in bridging the net commerce world to the bodily, in-store gross sales cycle that may show invaluable to retail companies which are gearing in direction of a extra data-centric method in understanding the customers. 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 best way for the business.

Verdict: Good Undertaking

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Helpful Assets To Get You Began

Should you’re beginning your journey into the complicated world of cryptocurrencies, this is an inventory of helpful sources and guides that can get you in your manner:

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 advice of an funding or monetary recommendation. Please assume warning when investing in cryptocurrencies and achieve this at your individual danger, as this can be very risky and you’ll lose your cash.

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