GAT is a new cryptocurrency that will be launched on the Ethereum main network. Each merchant will be able to deploy their own Merchant Tokens, which can be exchanged for other Merchant Tokens through the GAT Exchange, utilizing GAT. Loyalty points, discount codes and store coupons are, for the most part, illiquid. For a variety of reasons, consumers possess a disproportionate amount of coupons for stores they don’t visit, products they don’t want or loyalty points they do not take products from. Merchants and big chains devote a lot of resources to keep track of loyalty points, and to market their programs. However only a small percentage of these get converted into products people actually buy, resulting in significant wasted resources. Eventually users are paying for points they don’t use. GATCOIN is a platform which allows the secure exchange of Merchant Tokens and enables low cost cross-border payments and microtransactions. This will add liquidity to currently unused (and often thrown away) coupons and loyalty points. Being able to exchange these Merchant Tokens creates a situation where they have actual value to someone. And as they have value they are no longer considered spam. Doing this on the blockchain means anyone can see and verify transactions and check the token supply. Blockchains offer the possibility for unique (and uniquely verifiable) items. As they are digital tokens for a multitude of stores, brands and merchants, they can be carried on a smartphone, without the need to carry around coupons or loyalty cards. Having them on a smartphone means a precise geolocation can be used to offer specific airdrops. Further, exchanging and spending Merchant Tokens and performing transactions from a smartphone wallet creates a variety of valuable data. This data can be bundled and sold to merchants and brands, giving them the opportunity to target specific groups of users according to their interests, demographics or location, instead of spamming heterogeneous groups of people all together.

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Coin’s Details

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