LOYALTY COIN whitepaper v2.1loyaltyico.com/whitepaper.pdf · XAX=Air Asia WJA=WestJet IGO=Indigo...

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LOYALTY COIN www.loyaltyico.com

Transcript of LOYALTY COIN whitepaper v2.1loyaltyico.com/whitepaper.pdf · XAX=Air Asia WJA=WestJet IGO=Indigo...

LOYALTYCOIN

www.loyaltyico.com

Our Mission: Airline miles come with tons of restrictions. Our mission is to free you from those shackles and allow you to use the miles you earned, unbound.

• Block-chain Technology • Use your air miles on any carrier.

• Earn additional rewards

1.0.0 Introduction: Frequent travelers loyalty programs

Many airlines offer frequent-flyer loyalty programs to encourage customers to accumulate “miles” which airline customers can redeem to purchase air travel or other rewards. Points, or miles earned though those programs are based on complex rules, like class of fare, distance, season or the amount paid. There are also many other ways to earn points. For example, credit card issuers partner with airlines and award loyalty points or miles based on customer’s credit card usage. Points can be redeemed for air travel, ticket upgrades, booking hotels, car rentals, magazine subscriptions etc.

Frequent-flyer program points are in essence a type of virtual currency, but unfortunately it was a one-way process –people could purchase points with national currencies, but were not able to exchange back into those currencies.

Airline miles programs go back to the early 70’s when United Airlines began to reward loyal customers with points that could be accumulated and later could be used to pay for air travel. Their programs have evolved over the last 20 years, but it is not easy to use those programs.

When travelers actually try to book a flight, they encounter major hurdles, like-blackout dates (days when award seats are limited or unavailable). Every airline program has its own policies, procedures, restrictions, etc. Also airlines and credit card issuers are constantly changing the rules and policies. Several Airlines, for example, recently increased the minimum number of miles needed to book some of their flights.

Research published by COLLOQUY, a leading provider of loyalty marketing research in 2015 indicates that U.S. consumers hold 3.3 billion memberships in customer loyalty programs, a 26% increase over the number of memberships reported in COLLOQUY’s prior census study in 2013. The 2015 Census shows that specialty store loyalty memberships now total 434 million, exceeding airline frequent flyer memberships (356 million) for the first time, placing second only to credit card reward programs, which account for 578 million memberships.

According to the U.S. Department of Transportation’s Bureau of Transportation Statistics, year over year air travel increased by 5.5% from 2015 to 2016. COLLOQUY survey found that a little more than half of Americans – 55% – have taken a flight for business or leisure purposes in the past two years. And three-fourths of respondents, 75%, said their most recent flight was within the past six months.

Another noteworthy statistic is that 60% of frequent traveler miles issued today are not earned but instead purchased. Points accumulating in loyalty programs globally are

considered by some as real currencies with increasing value that have attracted the attention of criminals, according to Barry Kirk, vice president of Loyalty Solutions for Maritz Motivation Solutions. In the US alone, 3.3 billion loyalty program memberships have stored points and miles worth an estimated $48 billion, according to the Gartner Group.

1.1.0 Block-chain based airline miles platform

The BLOCKCHAIN will change customer loyalty programs forever by giving more control to rewards owners and reducing fraud through the transparency of block-chain technologies.

First Bitcoin Capital Corp trading on the OTC Markets as BITCF has developed a unique Block-chain based airline miles platform, allowing people to buy, exchange, trade, or transfer miles without any restrictions, blackout days or other cumbersome rules that airlines impose on their programs.

• The company released its 3rd Initial Coin Offering, as a master loyalty coin so that 110 airline and hotel chain tokens will be exchangeable to one central coin, naming it Loyalty with the symbol FLY.

• A complete list and details of these reward tokens for airline miles and hotel

chains covering 110 of the largest airlines and top hotel chains is listed below:

Fig 1

UAE=Emirates

QTR=QatarAirways

SIA=SingaporeAirlines

ANA=AllNippon

ETD=EtihadAirways

THY=TurkishAirlines

QFA=QantasAirways

DLH=Lufthansa

GIA=GarudaIndonesia

CPA=CathayPacific EVA=EVAAir

CHH=HainanAirlines

AXM=AirAsia

KLM=RoyalDutchAirlines

VRD=VirginAmerica

BAW=BritishAirways

CRK=HongKongAirlines

NAX=Norwegian

ACA=AirCanada

CSN=ChinaSouthern

AEE=AegeanAirlines

MAS=MalaysiaAirlines

DAL=DeltaAirlines

KAL=KoreanAir

FIN=FinnairVIR=VirginAtlantic

XEIN=AerLingus

CAL=ChinaAirlines

EZY=EasyJet

SLK=SilkAir

AFL=Aeroflot

SAA=SouthAfricanAirways

OMA=OmanAir

SEJ=SpiceJet

KZR=AirAstana

HVN=VietnamAirlines

LAN=LANAirlines

JST=JetstarAirways

WOWN=WOWAirlines

POE=PorterAirlines

AVA=AviancaIBE=Iberia

JBU=jetBlueAirways

XAX=AirAsia

WJA=WestJet

IGO=Indigo

TAM=TAMAirlines

AZA=Alitalia

DAT=BrusselsAirlines

JSA=JetstarAsia

AZU=AzulAirlines

ASA=AlaskaAirlines

SCO=Scoot

SAS=Scandinavian

SEY=AirSeychelles

TAP=AirPortugal

TOM=ThomsonAirways

ALK=SriLankanAirlines

CMP=CopaAirlines

AHY=AzerbaijanAirlines

JAI=JetAirways

MAU=AirMauritius

BER=AirBerlin

EWG=Eurowings

EYH=EthiopianAirlines

APJ=Peach

CES=ChinaEastern

GFA=GulfAir

ICE=Icelandair

SVA=SaudiArabianAirlines

PAL=PhilippineAirlines

EGF=AmericanEagle

KQA=KenyaAirways

DTA=TAAGAngola

CCA=AirChina

TSC=AirTransat

ANE=AirNostrum

DKH=JuneyaoAirlines

FJI=FijiAirways

LOTP=LOTPolish

CAW=Kulula

AMX=AeroMexico

RBA=RoyalBrunei

AirlinesGCRC=TianjinAirlines

TGW=TigerAirways

MNO=Mango

RJA=RoyalJordanian

2.0.0 Who is behind Loyalty Coin? First Bitcoin Capital Corp. are the masterminds behind loyalty coin. First Bitcoin Capital Corp trades on the OTC Markets as BITCF.

Being the first publicly traded crypto currency and block-chain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BITCF] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital crypto-currencies and block-chain technologies.

2.1.0 Meet the Bitcoin Capital Corp. Officers & Directors:

Dr. V. M. Abramov -Chairman of the Advisory Board

A leading financial professor, Dr. Abramov holds a PHD in mathematics from Tel Aviv University with more than 30 years of unparalleled experience as a financial and mathematical statistician, software engineer algorithm and computer database developer.

Dr. Abramov is highly skilled in predicting financial markets and crypto-currency fluctuations and shared his opinion in the Asia Pacific Financial Markets journal with a review on “Estimation and Prediction of a Non-constant Volatility.

Yuri Abramov – Director

For more than three decades, Yuri has applied his superior analytical skills and expertise to advance the field of applied physics in his work as a mathematician, algorithms and software developer, engineer and inventor.

Yuri holds a Masters of Science in Theoretical Physics and Chemical Physics from the Institute of Chemical Physics from the Russian Academy of Sciences in Moscow, Russia.

Among his numerous unparalleled qualifications and credentials, Yuri is an expert problem solver in the areas of digital signal processing for video-compressions as well as for high speed wireless communications

Will Walker- Director

For more than 15 years Will Walker has helped match countless businesses seeking venture capital and angel funding to experienced investors in search of emerging companies. Will is a hands on business advisor, working side by side with entrepreneurs and business owners seeking to take their business to the next level. His mastery of understanding what investors are looking for is what has helped him to consistently bring entrepreneurs and investors together and launch successful, high growth ventures. He is the founder of Walker Group Ventures, where he advises entrepreneurs and business owners how to prepare their business for funding and matching them with experienced and motivated funding sources including venture capital and angel investors.

Greg Rubin – CEO

Greg Rubin is an international energy products investor, with experience in working in the Russian oil market for 10 years in engineering, site planning, drilling, geophysics, and refinery operations. His international experience includes planning oil and gas infrastructure projects, oil product commerce and trading, energy, technology, refinery development and the Carbon Credit Market. Through his analysis of the commodities and financial markets worldwide, he brings an invaluable level of management, investor relations, market analysis and business philosophy that guides CoinQX Bitcoin and ALTcoin Exchange into future opportunities. Specialties: physical petroleum and other commodities trading, BITCOIN and cryptocurrency development, Bitcoin Exchange platforms design.

Patrick Dugan – Board Member

A serial entrepreneur with several years of experience in block-chain, finance, ecommerce and game development, Mr. Dugan has extensive knowledge of complex securitization structures and trading strategies. Mr. Dugan brings 9 years of trading experience, with over 3 years in crypto currency trading, averaging 50% annual returns. He served as a consultant on social game economics, and market making operations for exchanges. Mr. Dugan has served for the last year and a half as operations manager for the Omni Layer Foundation (previously Mastercoin), and has been involved in the issuance of the world’s first bearer bonds on the Bitcoin block-chain.

3.0.0 The relevance of loyalty Coin in the frequent travelers and hotel programs

In order to capitalize on this booming industry, the First Bitcoin Capital Corp (BITCF) CEO, Dr. Greg Rubin, an inventor with several patents approved by the USPTO has filed on the company’s behalf a provisional patent that is designed to grant protection from competitors placing rewards points on a block-chain.

We have now issued many more billions of rewards points on the bitcoin blockchain to be redeemed by the future clients of a new travel agency that First Bitcoin is in the process of rolling out soon via www.BitClassTravel.com having already posted a travel agency bond with the State of California.

What makes our reward points unique is that they can be bought and sold in crypto currency markets. We anticipate that our competitors will find their travel agencies accepting our rewards tokens in order to compete. A secondary market could emerge for this new form of reward points as digital currencies. Complete details of the usages and crypto miles issued will soon be found at http://AIRmilesQX.com

4.0.0 The loyalty coin ICO The Loyalty coin crowdsale runs on the bitcoin Omni protocol.

• Coin name: Loyalty Coin

• Symbol: FLY

• Total loyalty coins to be issued: 10,000,000,000 (10 billion)

• ICO CAP: 10 billion FLY

• Acceptable currency: Bitcoin, Ethereum and Litecoin

• Price: 1000 FLY = $5 (Minimum contribution: $5)

• End date: 16-08-2017

• Official wallet address:

Ethereum: 0x8e7767f3523777f810d5ba3197a3bc10bf4b7f01

Bitcoin (BTC): 1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS

Litecoin (LTC): LXftsuSe9rBUwiQ7bUU9jcvAgfz3TAiZEF

4.1.0 How to participate in the ICO?

The minimum amount of loyalty coins (FLY) that can be bought at this time is 1000. That is equivalent to about $5.

The maximum amount of loyalty coins (FLY) that can be purchased at this time is 10 billion.

To purchase your loyalty coins (FLY) please visit http://www.loyaltyico.com/crowdsale and follow the easy steps.

Distribution of the loyalty Coins (FLY) will be done within 5 – 7 days after the ICO period completes.

5.0.0 Travel Loyalty Statistics for 2016

• $48 billion worth of points and airline miles are unredeemed (Maritz)

• 75% of travelers are willing to share personal information, such as gender, age and email address, in exchange for tailored promotions, coupons, priority service or loyalty points (Zebra Technologies)

• 46% of loyalty program members said they like the ability to earn points on everyday spending with their airline loyalty program (Collinson Latitude)

• 47% of loyalty program members said they like the ability to earn points on everyday spending with their hotel loyalty program (Collinson Latitude)

• 29% of men have used an airline rewards program in the last three months vs. 20% of women (Vantiv)

• 75% of U.S. consumers would be open to using a site operated by a loyalty program if it allowed easy itinerary adjustments (Colloquy)

• 83% of U.S. consumers would be open to using a site operated by a loyalty program if it were easy to use (Colloquy)

• 69% of U.S. consumers would be open to using a site operated by a loyalty program if it allows for paying all travel expenses with loyalty points (Colloquy)

• 59% of U.S. consumers would be open to using a site operated by a loyalty program if it had a mobile app (Colloquy)

• Nearly 40% of "digital native" Millennials rely on mobile apps to track and redeem their rewards, while across all age groups, the use of plastic membership cards dropped by 4% during 2016 (Excentus)

• 69% of U.S. consumers would be open to using a site operated by a loyalty program if it provides info about planned travel destinations (Colloquy)

• 64% of U.S. consumers would be open to using a site operated by a loyalty program if it kept track of travel preferences (Colloquy)

• 56% of U.S. consumers would be open to using a site operated by a loyalty program if it provided personalized travel recommendations (Colloquy)

• 53% of U.S. consumers would be open to using a site operated by a loyalty program if it offered customization of in-flight amenities (Colloquy)

• 76% of business travelers said they would extend their business trips for leisure if their hotels offered discounts for additional nights or the chance to have a friend or family member join at a discounted rate (Colloquy)

• 92% of business travelers cited that ease of redemption would get their attention, 84% cited convenience of schedule holding appeal and 73% cited ability to personalize in-flight services (Colloquy)

• 81% of business travelers cited a higher level of service as having an impact on their evaluation of a loyalty program (Colloquy)

• 19% of consumers would skip their plans if they were to encounter added charges when booking with loyalty points (Colloquy)

• 40% of passengers picked their airport based on the airport loyalty program (ICLP)

• When choosing an airport, Generation X (44%) and Millennials (41%) are much more influenced by airport loyalty programs than Baby Boomers (31%) (ICLP)

• 80% of U.S. airline loyalty program members are inactive (Skift)

• 61% of travelers look for loyalty programs with a broad spectrum of rewards (Collinson Latitude)

• Major hotel chains increased loyalty program members in 2015 by 13.1% compared with 2014 (Skift)

• 71% of travelers think the value of a loyalty program decreases if it offers a limited range of rewards (Collinson Latitude)

• 77% of travel loyalty program members continued to spend with a brand and earn further points following a redemption on non-core inventory, compared to just 71% who redeemed on flights and hotels alone (Collinson Latitude)

• 42% of travelers believe that loyalty programs offering only core inventory rewards are "dated and old-fashioned" (Collinson Latitude)

• 40% of travel loyalty program members would tell friends and family about a program following a positive redemption experience (Collinson Latitude)

• 33% of travel loyalty program members would actively encourage family & friends to join the program following a positive redemption experience (Collinson Latitude)

• 48% of Millennials report loyalty programs are important when booking flights and 51% say they use them when booking hotels (Diamond Resorts)

• 39% of Millennials agree: "I don't think it's worthwhile to sign up for loyalty programs" (ADARA)

• 68% of Millennials will remain loyal to a program that offers them the most rewards (Internet Marketing)

• 75% of Millennials will remain loyal to a hotel brand even if they lost all reward points (Internet Marketing)

• 41% of Millennials joined a travel loyalty program because it was easy to use (Internet Marketing)

• Top hotels in terms of customer satisfaction: Hilton, Marriott, Hyatt (ACSI)

• Top hotel loyalty programs based on customer satisfaction: Hilton HHonors, Marriott Rewards, IHG Rewards Club (JD Power)

• 83% of highly satisfied hotel loyalty program members say they "definitely will" recommend the brand (JD Power)

• 77% of hotel loyalty program members say their program is equally as valuable as it was in 2015; 11% say their program is less valuable than the year before (JD Power)

• 40% of customers choose hotel loyalty programs based on convenience of locations (JD Power)

• 55% of the affluent middle class hold frequent flyer memberships, down from 65% in 2014 (Collinson Group)

• InterContinental Hotels Group's IHG Rewards Club is the world's largest hotel loyalty program with more than 92 million members as of December 31, 2015 (Skift)

Join us on Social Media:

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Email: [email protected]

Website: http://www.loyaltyico.com