Ma said: Star points, you can poke the original

Recently, the keyword "points" has a somewhat high frequency of appearance. First, on May 6, 2019, a company with a point-based operation as its main business – Hong Kong, listed in Hong Kong, raised nearly 600 million Hong Kong dollars, the author has The CTO and VP of the exchange have brainstormed on the new scene of the points. Then again, in the Barbitian She Knows community a few days ago, some small partners had a heated discussion about whether the "point + blockchain" was a true proposition. Since everyone ignited the interest in the "Spark" of points, I will add some firewood and talk about my observation of the points.

1. Off topic:

Let me talk a bit off topic. On January 1st, 2019, a nuclear-bomb-level app was born. It has long occupied the top spot in the mainland IOS and Android market. The total download volume is over 100 million, and the daily activity is amazing. This app is called "Learning Power". Why is this app rapidly rising, even to achieve a daily job, on the one hand thanks to the promotion of the Central Propaganda Department, on the other hand because the "learning power" has a special set of points. "Learning a strong country" can record and score people's learning behaviors, such as according to reading articles, watching video time, answering results, test results, etc., giving scores, accumulating scores and time-sharing, zoning statistics, relevant departments can pass this The points see which students are leading and which are backward, and accordingly give encouragement or encouragement.

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Figure 1 Learning the credit mechanism of the Powerful Country APP

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Figure 2 Statistics on party members' learning based on points

Also in January 2019, Qingdao, Shandong Province, China held a “blockchain and artificial intelligence cross-border integration summit”. At the meeting, Qingdao released the “Qingdao Beigong Chain”. The purpose of this “public chain” is Improve the government's service capabilities. The author was fortunate enough to be invited to the scene and learned that the publisher claimed to pass the point system on the blockchain to give the public a corresponding active service. For example, the garbage collection and recycling, and the public interest will have reward points, and the points can be further exchanged for children. Priority in enrollment, public rental housing, etc.

This is actually a very "peculiar" thing. In the past, it was difficult for the city to micromanage the behavior of the citizens. However, now the tentacles of the city began to spread all over the corner, and the terminal equipment such as cameras and sensors plus the credible account of the blockchain. The city is becoming active and intelligent. In the past, in addition to school, people's learning behavior is difficult to be guided and promoted, but with the development of smart terminals and networks, what we look at, how much we watch, what we listen to, how much we listen to, etc. can be guided to education. This is a phenomenon that has only emerged in recent years.

As entrepreneurs, we can't be satisfied with the appearance, but should further think about the "points" and carefully observe the changes in their lurking!

Second, the butterfly of the integral

What is the score? If you say it from a population with operational experience, it must be that “points are an important part of customer loyalty and can help business managers…”, but this is a very correct but useless statement. The definition of points is not important. What is important is that there are two very big changes in the points. One change is that the connotation of the points is changing, and today's points are far more connotative than going. One is that the extension of the integral is changing, and today's integral becomes easier to circulate outward.


Figure 3 The dimension of integration continues to be extended

As shown above, it is a relatively abstract diagram. I want to make it lively here.

In the first aspect, understanding points from the surface, points are nothing more than business promotions (or "customer loyalty program"), but today, points have gone beyond the traditional meaning, generalized into a broad-based certificate.

For example, learning the points of a powerful country is not a corresponding business value, but a political value corresponding to people's behavior, and becomes a learning pass. For example, in the interesting headline, the platform takes away the advertising revenue, but some of it is fed back to the user by means of points. The points and money are closely linked, and the points become the evidence of the user's participation in creating value. When points are combined with data such as performance and purchase, the points are linked to “credit”. At this point, the points can be used not only as money but also more usefully than money. Points become a credit pass. 333

Figure 4 The integration function tends to be diversified

Further, points become the way for big data to reach everyone. One day we may not need to use money to pay for anything, but only need to pay with our own data (expressed as behavioral points, credit points), which would be a More than paying cash for Alipay.

(2) In the second aspect, the points are becoming more and more interoperable.

Points have been pursuing interoperability. The more integrated the points, the greater the value.

Basically, everyone has three advantages:

From a business perspective, customers can communicate.

From the user's point of view, their own welfare has increased.

From a platform perspective, it is a pleasure to make intermediate fees and earn a fee.

In fact, the integration of points is not a new thing. It is similar to the progress of economic globalization. The integration of points is initially in a small scope, such as between airports and hotels, between scenic spots and scenic spots. A peer union or a peer-to-peer alliance is established. Although the points are scattered, the value of the total is amazing. In China, the annual amount of points is in the hundreds of billions. Some entrepreneurs try to aggregate the sleeping and scattered points by establishing a larger point system.


Figure 5 Integral intercommunication under the Wanlitong platform

However, the large-scale intercommunication of the points, the performance of the players on the existing track is not satisfactory, from Wanda Feifan to Pingan Wanlitong, from Jingdong Steel to UnionPay points, people have gone a lot in exploring the point of interoperability Detours are mainly manifested in the fact that two contradictions cannot be solved.

The first contradiction, how to price the points. Almost all of the points exchanges are to determine the conversion ratio of a center. To determine the ratio, the price is set, and it is difficult to price the differentiated points. Many points exchanges are blocked in this step (such as the points of China Merchants Bank that I have contacted in the previous period).

The second contradiction, how to prevent bad money from expelling good money. As mentioned above, under the centralized exchange mechanism, all participants think that the user comes to me to get points (consumption) and spend other points (exchange) elsewhere, which makes the trading market narrow.

Third, blockchain and points

In a narrow sense, blockchain, as a distributed trusted account book, is a more optimized way to store equity data. This is the most basic combination point of the integral + blockchain. With the extension of the integral connotation, the integral More and more like the card, the blockchain naturally becomes the carrier to carry this certificate.

The combination of blockchain and integral is more reflected in the establishment of the quotation exchange market, which is the "second butterfly change" of the scores made by this article. The specific combination points are expressed in three aspects:

(1) The trusted environment of the points. An important benefit of the blockchain is that the points can build a relatively credible environment. In the past, the points and points are opaque, and the exchange of points is based on the principle of tacit understanding. In this case, The alliance of points cannot be made big. If the parties build points on the blockchain, they can know the total amount of points at the time, which can promote the establishment of a larger point alliance.

(2) Positive feedback of points. Integral also emphasizes the concept of identity in the blockchain, that is, the user grasps his own points. Once the user has mastered the points, the user can integrate the points on the appropriate mechanism (such as the decentralized market of the blockchain). Flexible use and exchange, for merchants, merchants can get more users from the mutual exchange of users. If the merchant can get more users, it will actually make the intrinsic value of the points more realistic, thus forming positive feedback.

(3) Big data platform for points. In the blockchain, the points will leave very clear traces. From the issuance, to the redemption, to the transfer, to the use of the points, there will be traces. The merchants can develop a better business cooperation strategy by observing the distribution of their points. .

Fourth, summary

The score is a topic that listens to the deep and listens to the shallow. This article is only the tip of the iceberg. Some people have only studied the aviation score and have a million words. There are many interesting stories in the points, such as the rise of the bar, the fall of Wanda's extraordinary points and other topics are worth talking about. In the case of the integral plus blockchain that is especially emphasized in this article, the blockchain is more regarded as an infrastructure, and the more core goal is to follow the trajectory of integral development to find reliable The business model is closed-loop, achieving the goal of “muffled and big fortune”.

Recently, the original team released the industry's first BaaS platform under the main multi-sided architecture – Bystack, which frees the cost limit of the main network high-frequency transaction. Based on Bystack, our team has been polishing a new product that carries a brand new integration model. This product has been working with many partners for a long time, hoping to meet with you soon.