ICO Analysis: RainCheck ICO Review

 RainCheck ICO Review: 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 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 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 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 offered in close by shops. Simultaneously, customers might be notified of varied presents and rewards that’s at the moment relevant to them.

Raincheck plans to create an entire the O2O loop by integrating a decentralized peer-to-peer (P2P) loyalty and cost community into their present commerce platform. The final purpose is to achieve all knowledge factors and stakeholders throughout the online-discovery and offline-purchasing loop.

Here are the next issues that Raincheck goals to unravel:

Absence of Offline Data Analytics: Statistics present that 85% of persons are prone to browse for merchandise on-line and make a purchase order bodily on the retail retailer. Though it’s simple to assemble client behavioral knowledge on-line, present expertise prevents knowledge to be gathered as soon as customers go away the web retailer
Broken Customer Loyalty: The present loyalty applications 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. Additionally, loyalty applications can accrue important 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 necessary questions on RainCheck in response to a number of metrics. Have a have a look at the interview beneath:

Application

Raincheck goals to offer customers with a personalised buying expertise whereas enabling companies to measure digital advertising spend offline,the place most gross sales happen. This is achieved via their patent-pending commerce platform that enables 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 strategy of linking up customers funds playing cards (debit/bank cards) on to a service provider’s loyalty program, digital supply and cash-back bonuses.

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 situations, with every module being as open as potential to allow extensive third-party acceptance. All situations are primarily based on the AWS Cloud Environment. 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 integration of  blockchain performance comes on the subsequent step, which is on the cost processing community.

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Tokenization of Payments Data

In order to efficiently hyperlink offline gross sales knowledge with on-line knowledge, knowledge concerning the cost networks must be built-in into the general framework. That is why 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 reasonably than the merchant-level, which beforehand has been uncommon. Here’s an instance:

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

Tokenizing cost card knowledge and integrating it to a standard Customer Relationship Management (CRM) system would create a extra customized system for finish shoppers. Here is how the token-based system will work within the larger 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. Here are the benefits that stakeholders will achieve utilizing the Raincheck platform:

Users: Shoppers 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 retailers) via rebates, reductions and cash-backs
Retail Businesses: Businesses would be capable to collect vital client behaviour knowledge from O2O gross sales which beforehand would have been unattainable, which might now be used of their advertising evaluation.
Payment Processors: The likes of Paypal and Stripe can now seize offline gross sales derived from on-line discovery and will increase their income channels via commissions or charging charges through the O2O cycle
Financial Institutions: Banks can create extra customized card schemes for his or her clients by gaining access to SKU-level knowledge
Channel Partners: Distributors corresponding to on-line publishers may characterize new income channels for companies

(See extra: Guide to Cryptocurrency Liquidity: Understanding Liquidity & Its Importance)

Technical Overview

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

Unique Selling Point

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

Patent-Protected Technology: Raincheck ‘s expertise is at the moment patent-pending and as soon as granted, will function a robust moat to discourage opponents in a profitable market.
End-to-End Data Points Bridging the Online and Offline World: Raincheck’s answer will focus on the Stock Keeping Unit (SKU) stage as a substitute of solely the service provider and spend stage that’s the established order of the business. This signifies that your entire 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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Team

Cameron Wall (CEO) leads the crew with a belt of entrepreneurship ventures targeted on cell and internet improvement for world enterprises. His experience in cell and cloud-based functions 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 cell functions. Although Raincheck’s web site and whitepaper mentions William’s experience in machine studying, synthetic intelligence and blockchain methods, there isn’t any indication of these expertise as per his earlier working expertise. The enterprise finish is headed by Peter Bremner, who has robust company and authorities hyperlinks from his established company background.

There are 8 different crew members that takes on blockchain improvement, synthetic intelligence and cell 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 expertise facet to the retail facet. Leveraging the experience of a wide-array of specialists from the technical and enterprise facet is all the time a great indicator.

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

Traction

There are 4 indicators of Raincheck’s progress thus far. They embrace a pilot program, cell functions, 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 had been 2,675.

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. Mobile Application

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

Here is a have a look at the critiques of the cell app from each Google and Apply playstore:

The quantity of critiques is inadequate for a reputable conclusion for the reason that app has gained a restricted evaluate charge, which might 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 cell app in 2016, this appears to point lacklustre traction amongst customers.

3. Mobile Extensions

Raincheck has additionally developed browser extensions for its utility, each in Chrome internet retailer and Apple’s Safari. However, 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 utility, which is extraordinarily small. This is just not 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. Here are the accolades that they’ve acquired:

Awards are undoubtedly a constructive indicator of a robust challenge idea. Winning a number of awards from distinguished 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 full pre-mined provide of Raincheck’s native tokens might be distributed on the ICO. This is 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 larger centralization of the token provide, which might be unnerving for buyers. Fortunately, Raincheck is clear about its token provide breakdown. Here are the vesting schedule for various classes of their token distribution:

Strategic Pool: Tokens might be reserved over a 3 yr interval and might 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
Team: Tokens might be vest 12 months from the beginning date of the sale interval, to align staff with long-term goals
Advisors: Tokens might be frozen for six months from the tip of the general public sale interval and can then vest over a 24 month interval
Rewards Pool: Leftover ICO tokens might be transferred to the rewards pool, which might 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 buying and abroad commerce enterprise

Raincheck’s $28 million hardcap is on the greater spectrum of ICO funding, which is sort of shocking given the bear market the final cryptocurrency market has been experiencing for the reason that begin of the yr. It might be extraordinarily arduous 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 might be used as the first foreign money throughout the Raincheck platform. Users must possess RAIN tokens to entry the vary of providers and capabilities on the platform. Here are the use-cases for RAIN token:

Medium-of-exchange between retailers and customers
Value unit inside Decentralized Autonomous Organizations (DAOs), which might be staked by manufacturers in relation to their neighborhood membership
Rewards buying and selling between totally different loyalty applications and schemes

These use-cases will gasoline 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. Additionally, the burning mechanism employed by Raincheck to buy-back and burn RAIN utilizing operational earnings would serve to boost RAIN’s long run worth on condition that its provide would periodically lower.

Roadmap

Here is the roadmap for Raincheck:

Raincheck has an extended observe report when in comparison with nearly all of ICO initiatives. It was established means again in 2014 and has launched its platform in 2016. Moving ahead, the completion of Raincheck’s answer may stretch so far as the 2nd quarter of 202, which is a good distance forward.

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Strengths

First Online-to-Offline Commerce Solution: Raincheck has created an end-to-end options to seize offline retail knowledge together with on-line client knowledge, which may show invaluable to manufacturers and companies in understanding their shoppers extra.
Scalability: Raincheck’s platform is constructed on the Stellar blockchain, which might course of rather more transactions that its opponents constructed on the Ethereum blockchain. This concentrate on scalability is significant in guaranteeing that Raincheck’s platform can scale with extra transactions in a viable method.
Track Record: Raincheck has been working for near 4 years, which places it on the greater percentile of ICO initiatives with a observe report and a working product.
Accolades: Raincheck has gained a number of awards and recognition from distinguished institutions corresponding to VISA and Accenture for his or her challenge, which is an efficient signal of credible challenge mannequin.
Patent-Protection: Raincheck’s core system is patent-pending, which if granted, permits for larger limitations 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 varied dangers which might be mitigated utilizing a decentralized system.
Little Traction: Looking at indicators of traction through cell utility and browser extension downloads, the numbers are small contemplating Raincheck has launched them in 2016. This is an indication of poor person attraction in the direction of Raincheck’s options.
Little Hype: There appears to be restricted sources and publications surrounding the potential impacts of Raincheck’s options, which may considerably improve commerce business

Summary

Raincheck presents 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 can be gearing in the direction of a extra data-centric method in understanding the shoppers. Though Raincheck’s decentralized loyalty platform and token-based construction, the ultimate piece of an entire online-to-offline commerce answer may lastly be in the best way for the business.

Verdict: Good Project

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Beneficial Resources To Get You Started

If you are beginning your journey into the advanced world of cryptocurrencies, this is a listing of helpful sources and guides that can get you in your means:

Trading & Exchange

Wallets

Read additionally: Guide on Privacy Coins: Comparison of Anonymous Cryptocurrencies and Guide To Cryptocurrency Trading Basics: Do Charts & Technical Analysis Really 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 unstable and you’ll lose your cash.

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