Dev - why would someone use incent instead of just directly using bitcoins?
which merchants have you already partnered with to use incent in point-of-sales?
Hi,
So to ensure instant gratification on the part of the consumer, we need initially to issue the reward value from a reserve, and then feed that demand impulse back into the market by buying Incent back out of circulation with BTC. Finally we replenish our reserve of BTC once cash settlement arrives from the merchant. This is our transaction cycle, which leaves the consumer with digital value, the secondary market with new demand for Incent and us made whole by the merchant issuer and ready to go again; rinse and repeat.
To your first point, Incent really starts to make sense as a reward if it appreciates in value over time. This is achieved through focusing the combined, ongoing, demand of merchant partners onto the secondary market of the asset which has no other significant economic forces acting on it. Were we to use bitcoin, there are too many other demand and supply impulses at play, to ensure that the demand of our merchant partners had the impact we would wish it too.
To your final point, I cannot provide you with specific partner names yet because nothing is inked-in and I do not want to compromise active conversations; I'm sure you appreciate this. What I can say is that commercial interest is significant here in Australia, in UK and the US, particularly with commercial entities seeking to build or protect an eco-system that binds in their commercial partners.
There's more info on the site and if you join our slack channel we can have a more detailed conversation. For the time being, thanks for your interest in our project.
RW.
