BioCoin Loyalty Points System - wanna try? (Bali)
While payment with cryptocurrencies is forbidden in Indonesia, it is not the case for loyalty points (Ace, Carefore and all shops using their membership cards which is a loyalty system that use loyalty points).
Actually, to my mind, even acceptance of any kind of cryptocurrencies have nothing negative as it is merely an innovative way of marketing.
We claimed that we accept bitcoin for accommodation in hotel in late Protected content , since that time we received zero payments in BTC, but it provided an opportunity to have free links on all crypto-sites, maps.. no sense for legal authorities to ban it.. I think that they will understand it soon.
As to #biocoin - probably someone else would be ready to join this loyalty system - no cost, but will provide an extra advertisement.
BioCoin Loyalty system initially designed by Russian entrepreneurs and its first aim was to support green/eco-farmers and provide facilities for development of farming projects. (they issue BIO via ICO that still continues and if you interested you may find info about it at Protected content
But in reality, this BioCoin system became adopted by different entities not involved in farming - coffee shops, restaurants, hotels, shops and project started expansion to other countries.
The Idea is that each merchant provides to guests discount in the form of cashback in BIO.
The merchant can buy BIO during ICO, or later at the exchange or can accept it for his goods/services and have an alternative - keep it for providing remuneration for guests or can sell it on the market to other merchants.
I have no any connection to this company, not familiar with owners but I decided to try it and it see how it works.. maybe someone here also would be interested to join.
I would be happy to read feedback on the subject and listen to critics. ;-)
How it works in Bondalem Beach Club:
*we pay 10% cashback in BioCoin for direct bookings of accommodation
*we pay 5% cashback for orders in BBC Restaurant
Guests only need to spend time for installation of biocoin wallet which can be downloaded from Protected content
We will pay them biocoin and next day they can come back and pay it for food at the restaurant (for a merchant its no risk operation as we pay BIO at market offer rate and receive it at bid rate), alternatively customer can pay this BIO to another merchant (that is in what I m also interested) or can sell it on cryptocurrency market.
As to taxation issues:
We will be showing all sales with mentioned discount (cashback) provided to guests.
And acceptance of loyalty points as a mean of payment comes at the current market rate.