ANN: TAPCOIN: Decentralized Advertising Reward Token

February 24, 2019 crypon 0 Comments https: token

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A DECENTRALIZED MARKETPLACE FOR CONSUMER REWARDS AND DATA

|Tap Network|

Current State of Consumer Data

Today, the average consumer has little to no control over the privacy of their data, nor the ability to participate in the value exchanges that occur when entities who have access to data sell or buy it. When a music artist�s song is streamed, the artist receives a % of the revenue, however, when large corporations such as credit card companies or social media apps sell consumer data, they keep 100% of the revenue and consumers usually receive nothing. Because consumers are not incentivized to actively participate in the advertising economy, they simply just don�t care when they see an ad. Digital advertising today leverages unpermissioned data and drives less than 0.1% average consumer engagement. Giant corporations like Facebook and Google owns so much consumer data, that they keep more tha 90 cents of every $1 of digital advertising spent, while consumers and their data are packaged and sold as products.

How Things Should and Can Be:

With the creation of blockchains, the user can now store and share this data from a jurisdiction-less system. Identity can be anonymized and individual privacy can be perserved. On a blockchain the public address identifying a participant is also the public key at which the user can receive funds. Value exchange between brand advertisers and consumers can be direct, immutable, and with minimal cost even when the amount transacted is small.
Data such as your purchase history can be permissioned and shared with brand partners without revealing your identity. Based on these data, brands can reward you with lucrative rewards via a blockchain token.
TAP Network has already built a network of over 100,000+ partner hotels, restaurants, and retailers where you can earn for everyday purchases. Link any of your credit cards or debit cards to a TAP Network powered app such as the Hooch App, and make FIAT purchases like you normally would on your cards. Every time TAP detects a purchase at one of our hospitality or retail / ecommerce partners, your purchase data is shared anonymously with your permission, and TAP Coins $ are rewarded to you via in-app wallet.

In this new paradigm, consumers receives majority of the advertising dollars from brand partners in the form of rewards, and are much more incentivized to take an action, resulting in up to 60% engagement rate, comparing to 0.1% average for digital advertising today.

Company Background and Mission:

TAP Network is founded and incubated by Hooch, Inc., a venture-backed hospitality tech company led by experienced entrepreneurs Lin Dai and Jared Christopherson, with over $7.5M in funding from notable investors including billionaires Len Blavatnik and Chris Burch, VCs FJ Labs, Revelis Capital, Warner Music Group and Access Industries, and renowned blockchain investor Bill Tai, who backed BitFury, PowerLedger and AirSwap. Our advisors include Bob Hurst, ex-vice chairman of Goldman Sachs; Miguel Forbes, Vice Chairman of Forbes Family Trust; Teymour Farman-Farmaian, managing director of Xapo and ex-CMO of Spotify; Sree Kotay, ex-CTO of Comcast; Bonin Bough, host of CNBC�s Clevland Hustle and ex-CMO of Mondelez/Kraft. TAP Network�s mission is to give consumers control of their data and help them monetize it fairlty. In the process, we look to democratizing blockchain for everyone, not just crypto traders and ethusiasts. For the consumer, TAP provides familiarity and ease of �Credit Card Points� or �Airline Miles� to the blockchain space, which can be daunting for tens of millions of everyday consumers. The watershed moment of the masses embracing blockchain requires a use-case applicable to everyone. TAP is simplifying blockchain by making it as easy as earning credit card points. A user�s TAP balance can be used to instantly redeem for gift cards at national brands such as Amazon, Uber, Starbucks and more, or book hotels, dining at significant discounts. Consumers who redeem with TAP can save up to 70% on hotels than paying with fiat currency, making TAP more useful than most other cryptocurrencies.

2-Token Model and TAPN Security Token:

TAP plans to revolutionize the loyalty marketing and advertising industries with a unique dual-token model, introducing 2 blockchain-based digital assets designed to allow investors and users to participate in the decentralized data marketplace:

1. TAP Coin (�TAP�) – A 1:1 U.S. dollar pegged stable-coin used as the native token in the protocol.

2. TAP Network Token (�TAPN� or �TAPN Token�) (�TAP�) – A digital security that receives dividends in TAP or ETH.

TAP Coin is a digital stable-coin pegged to the U.S. Dollar. Once consumers link any of their credit or debit cards and delegate permission to share data via any of the TAP Network apps, they start earning TAP Coin almost instantly, anytime they make a credit or debit card purchase at any of the 100,000+ vendor partners in the TAP Network. With a stable-coin like TAP, $1 TAP is always redeemable for $1 USD worth of goods and services, from hotels, dining, to national branded gift ca
rds such as Amazon, Uber, Starbucks and more.

The TAPN security token allows accredited investors and institutions to participate directly in the revenue generated from TAP Network�s rollout of a consumer-empowered data marketplace and vastly more efficient new advertising paradigm. Investors can purchase TAPN via an STO (Security Token Offering), and receive quarterly dividends equal to 10% of the TAP Network�s consolidated adjusted gross revenue. Dividends will be automatically deposited in eligible investors� wallets in their choice TAP Dollar or ETH (additional digital assets may be available as dividend options to TAPN Token holders in the future). TAP Network expects to offer TAPN holders additional exclusive investor benefits, including elevated elite member status, discounts across the hospitality industry, and early access to TAP-enabled debit card when available.

Blockchain Model:

TAP Protocol is a protocol for a market-based exchange of consumer data. For detailed technical schema, please refer to Architecture for Decentralized Consumer Data Exchange Protocol in our whitepaper at http://tapcoin.net.

Within the TAP network protocol, consumers are incentivized to share any type of data about their behaviors or preference, by granting consent via delegates systems such as an app they use, in exchange for a medium of value – the TAP stable-coin. Brands will �pay� in TAP, proportionally to the value of the data which they would access, directly to each consumer. The TAP network is responsible for facilitating the exchange of data, permissioning participants of the network, and recording a ledger of transactions within the network. TAP stable-coin does not have a limit on its supply. New TAP Coins will be minted as needed to be granted from brands or data partners to consumers, and destroyed when consumers make a redemption using TAP for rewards such as hotels or dining credits.

Security Token Information:

TAPN Token investors directly participate in the TAP network�s decentralized monetization of the highly lucrative consumer data market. While consumers reap the most benefit from the monetization of their data, TAP Network, acting as the initial primary operator of the data network and the first Data Attestor entity, shall receive on-average 20-30% of all brand advertising revenue. 10% of the TAP Network�s consolidated adjusted gross revenue will be distributed as dividends to TAPN holders.

Roadmap:

Team:

Lin Dai
Co-Founder and CEO

Lin Dai is an entrepreneur and experienced digital executive. He is the Co-founder of HOOCH, the popular subscription hospitality app for millennials and young professionals. Lin founded his first company, the first social network for teens, out of his dorm room in 1999 and later took it public. He spent over 15 years leading digital initiatives and building premium advertising networks at major media companies such as Alloy (Gossip Girls, Vampire Diaries) and Emmis Communications (Hot97, Power 106). Prior to launching HOOCH, Lin was the CMO of Keek, a top mobile video social platform with over 75M users worldwide that was taken public on the Toronto Stock Exchange. Lin graduated Summa Cum Laude from Tepper School of Business at Carnegie Mellon University.

Jared Christopherson
CO-Founder and CRO

Jared is an award-winning digital performance marketer and data expert with over 15 years of experience in the advertising industry. He was the co-founder of Yellow Hammer marketing, which counts Warby Parker, Living Social, and Casper as past clients, generating upwards of $100M annual advertising revenue.

David Rees
CTO

David is an experienced technology leader and an authority in decentralized computing. Most recently David was CTO at BitTorrent, overseeing all of engineering, development and infrastructure. After its acquisition by the Chinese blockchain company Tron, David took over the organization's blockchain initiative, merging the BitTorrent protocol with a blockchain token. Prior to BitTorrent, David was with CheckPoint, which developed a central enterprise security administration system. David started his career in the military and spent more than 12 years traveling the world as a navigator on reconnaissance aircraft. He was in both Desert Storm and Bosnia.

Press:

SOCIAL LINKS
Twitter: https://twitter.com/tapcoin

Reddit: https://www.reddit.com/r/TapcoinHooch/

Medium: https://medium.com/@officialtapcoin

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