Enlist your brewery!
How Does it Work?
The Beercoins can be exchanged for beer either at a sales point of the brewery or an affiliated bar. Beercoins used to buy a beer will be burned and deleted from the system. The participating brewery has to supply the beer by either buying back the beer back from the bar (purchase price) or supply them with extra beer during the next delivery. The amount of beer which a brewery has to supply is capped at 3% of the number bottles they equipped with a QR-Code. So if a brewery decides to sell 1000 bottles with our codes they have to supply 30 bottles for the system. Effectively given their customers a 3% discount on the beer.
The Beercoin is an interesting cryptocurrency, because it is an asset backed currency. It is a currency which is produced by beer, which can be exchanged for beer. As a single user will be somewhat limited in the amount of beer he can drink, so the amount of the available currency will be closely linked to the user base.
Why use it?
Breweries are presented with a modern solution for a customer loyalty program, which is capable of collect anonyms data and direct marketing. And the best part is that the costs for these functions is mostly beer. All in all it has 3 advantages over traditional systems.
You can give your customers something your competition can’t. Beer-based money. Your customers can decide how they want to use it. They can simply buy a beer, trade it or turn it into a security token.
You can also Geo drop Beercoins on the map of our app, so customers can collect them during a festival or something similar. This way your customers will be hunting for one of your beers instead of Pokémon.
- Data Analytics
Our system is able to collect anonyms data about the beer, which was scanned. So you can follow in real time which type of user is drinking you beer and you can either see trends or check if a marketing campaign was successful and to what degree. We achieve this by giving each user account a Beercoin wallet address which is used in the transactions. This way we can collect data points without the need to know who is actually using the app.
Our system is designed to be used by breweries all over the world. To achieve the needed security for this we are using blockchain technology. This way no participating brewery has to trust other participating breweries that they could abuse the system and simply “print” more Beercoins. They can also be certain than no bar can accept more Beercoins than a customer can actually provide and claim compensation for the beer.
Why join it?
We are looking for breweries that want to build with us the first beer-based currency in the world. We always hope that this idea is reason enough to get excited, but in just in case you would like to see more reasons to be an early adopter here they are:
Free use of the System
We will provide the Beercoin system to you completely free of charge for how long we exist. That means you will neither have to pay for codes, data collected for your brewery or data analytics tools we will develop in the future.
This cryptocurrency has a cap. The maximum amount of coins that can exist is limited to 77,480,000,000 Beercoins. The coin supply is set at this number to let the system operate for 10 years with 10,000,000 users (under the assumption of the average German beer consume). If Beercoins are used to buy a beer or a security token, they will be burned and removed from the supply. The Beercoin will be mostly generated through beer. 20% of the total supply of coins were generated when the system was deployed and will be sold to investors and used to get the company started. The coins are distributed as followed:
- Minable coins (80% of total supply) = 61,984,000,000 coins
- First coin sale to fund development (5% of total supply) = 3,874,000,000 coins (mostly burned)
- Second coin sale to fund expansion (~1,3% of total supply) = 1,000,000,000 coins
- Partner Breweries (~3,7% of total supply) = 2,873,000,000 coins
- Company (5% of total supply) = 3,874,000,000 coins
- Team (5% of total supply) = 3,874,000,000 coins
The first 100 breweries that want to declare their intent to build with us this beer-based currency will get 10.000.000 Beercoins as a sign up bonus. Afterwards this bonus will decline with increasing number of participating breweries. As they will be crucial in building this currency we believe that participating breweries should be financially rewarded if we manage to make this vision into a reality.
The coins will be paid after the second round of funding and will be frozen in a smart contract for 3 months. After that time period it is up to the breweries to use the coins in whichever way they see fit.