Introducing the ARAW Token, the heart of the decentralised payment ecosystem powered by the Ethereum Blockchain, they are aiming to increase blockchain adoption for regular people across the world. They are the first company in the UK whose mission is to combine the benefits of the E-Commerce and Payment industries; provide end-toend solutions for E-Commerce Marketplace, Touch & Pay Cryptocurrency Card, Online Cryptocurrency Payment, and Unified Reward System on the Ethereum Blockchain powered by the ARAW token. The goal of the ARAW token is to be a part of everyone’s day-to-day online & in-store shopping. The Araw platform addresses fundamental problems in the e-commerce and cryptocurrency economies. Firstly, retailers online and offline offer restrictive reward systems bundled with their services – they are often of little value to the consumer given their limited nature. Reward systems in commerce as a whole are underutilised due to the lack of technological investment. Coincidentally, many companies find it difficult to provide attractive reward schemes as they risk undervaluing their services. The ‘Unified Reward System’ allows service providers to become an ARAW token distributor, allowing them to control the format of their reward plans. The ARAW token now acts as more than a simple reward point – as it is utilised and redeemable across all of ARAW’s ecosystem participants. Additionally, owners of ARAW are able to convert their tokens into fiat currencies via ARAW mobile wallet & take cashback to their associated bank account.
Diversified Channels to increase the Adoption of the Araw Platform
The Araw platform aiming to target multiple channels to increase the adoption of the blockchain technology. There are two main verticals to achieve their goal.
1. E-Commerce: The goal of the ARAW token to be a part of everyone’s day to day shopping without needing them to change their shopping behaviour. This can be achieved with simple and easy to use e-commerce website which is transparently integrated with the decentralised payment.
2. Decentralised Payment: The Araw platform will be a bridge between merchants, consumers, cryptocurrency exchanges, and the Ethereum smart contract that manages the liquidity of the ARAW token.
The Existing Araw Platform
The existing Araw platform, Araw UK Ltd. was founded in 2016. This platform has been implemented using virtual tokens without blockchain support. They provide their client businesses with services such as:
• Customer analytics: keep track of loyal customers, their points and redemptions in real time.
• Customer insight dashboard: connect in real time to the customer information and turn those insights into more sales and customer loyalty.
• Business branded loyalty card
• Increase revenues with new and loyal customers: Engage and reward your customers.
• Know your customers better and bring them back to your business: Distinguish between dormant and loyal customers, and send right offer to right customers.
• In-store marketing: they provide in-store marketing material to promote digital loyalty program among customers.
Solution Provided by Mobile Payment
Through the blockchain technology, they have been able to process payments with only fee and single step, which would lead to the acceptance of payments on the ARAW token platform generally up to five times less expensive and up to ten times faster for their participating merchants. After the integration of ARAW token ecosystem, participating merchants would have access to accept payments in the ARAW tokens, use reward system features, and exchange fiat currency from the ARAW token.
The ARAW Token Ecosystem
The Araw Ecosystem was carefully designed from the beginning as a supportive sphere in which users can be confident in their trades on the Blockchain. To capture a variety of users, they have provided an ecosystem platform that is scalable and effective, yet simple over the Ethereum Blockchain, where customers and brands can interact without restrictions in a dependable, trustless, and mutually beneficial manner.
Source: youtube/ARAW Token