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On April 25, Coupit announced the opening of the Know Your Customer (KYC) and whitelist registration for their upcoming public token sale. The registrations opened on April 26 at 5:00pm PST.

About Coupit

Coupit is a blockchain-driven e-commerce incentive platform being built on the NEO blockchain that aims to allow businesses and individuals to market their products and services, as well as earn rewards through a number of structured programs.

Coupit aims to solve issues in the e-commerce market such as broken affiliate programs, trust and reputation problems, long and expensive payment processes, and poor loyalty programs.

One of the main issues identified by Coupit in their white paper as being faced by current competitors (such as Google Places, Yelp and FourSquare) is false reviews. Coupit note that it is difficult for centralized platforms to prove the integrity of a review and rating system. Additionally, most end users aren’t incentivized to provide positive reviews, often leaving only those who’ve had a bad experience with a service motivated to provide input.

Coupit’s solution is to create a decentralized e-commerce discount and incentive platform. The platform will include: an affiliate program that will automatically distribute funds; insights for sellers provided by an analytics dashboard that utilizes machine-learning algorithms; a trust program to verify reputation of buyers and sellers, including a resolution center; and a loyalty program.

Coupit cite the reduction in transaction costs, trustless exchange, immutability, transparency, systematic recording, and P2P communication as reasons blockchain technology is appropriate for this type of platform.

Coupit will feature two tokens – Coupit (COUP) and Recoupit (RCPT). Coupit is the primary utility token while Recoupit is designed to benefit holders of the Coupit token. Coupit holders will generate Recoupit tokens automatically based on the amount that they hold in their wallets, and can be used for promoting products on the Coupit platform or redeeming special offers.

KYC and Whitelist

To participate in the KYC and whitelist process, users will need to register for a Coupit account. To create an account, users will need to provide their first and last names, e-mail address, and date of birth.

After the participant selects their country of residence, registrants will select whether they wish to contribute above or below $25,000 to the public token sale. Those who wish to contribute over $25,000 will be required to provide additional documentation.

The Coupit presale will take place on May 12, 2018.

More on Coupit can be found through the links below.