The Waves platform has released full node code, allowing the network to become fully decentralised. Custom token creation means that businesses, including Incent, can now launch their initiatives hosted on Waves.
With the launch of full nodes and custom application tokens (CATs), Waves is ready to support the Incent loyalty programme as the end of its crowdfund approaches.
‘It’s an exciting day,’ comments Peter Godbolt, Incent’s lead developer. ‘Waves is a powerful blockchain, has some great functionality baked in that makes it a perfect fit for Incent. It’s great to have the software ready in time to play with it a little before we launch. We’ll be doing at least one full node to support the network, investigate opportunities with fiat gateways, and host at least some of our waves holdings to generate revenue’
After the ICO finishes, Incent tokens will be created in a one-off event, before they are distributed to investors. ‘Once the crowdfund ends on 30 November, we’ll do a thorough audit, which will take perhaps 2 or 3 days’ continues Peter. ‘Then we’ll send out the new Incent to everyone’s Waves wallets.’
Waves’ functionality and features make it possible to launch a CAT designed to exploit the closed and restrictive nature of conventional loyalty rewards with a product that is superior because, uniquely, its value is Open.
‘As it stands air miles are widely considered the most effective loyalty-reward in existence – but even they have very restricted utility and half-life,’ says CEO Rob Wilson. ‘Now imagine an air mile that any merchant can offer as an incentive to transact; an air mile that is delivered instantly, can be spent anywhere, that never expires and appreciates in value. This is Incent.’
The concept Wilson uses to describe Incent is Open Value – which derives from the term Open Source. ‘Simply put, the current loyalty industry works like Microsoft, which protects value through restriction, whereas Incent is like Linux; which like bitcoin, builds value through openness. Once the token is live, there will be nothing stopping other developers building their own commercial projects on it and our aim will be to provide Open Source tools that help them to do so.’
The other key component of Incent’s value proposition is the fact that token supply is finite – no further tokens will be created after the ICO distribution takes place. Thereafter, every time any of Incent Loyalty’s merchant partners transact a new demand impulse impacts the secondary market for Incent – with the predictable impact on token price – which is good for consumers, businesses and investors.
Waves’ superior blockchain infrastructure is a key enabling technology which has allowed the Incent team to focus on mainstream business development. Here, pre-launch interest has been strong across the breadth of commerce, with the team fielding unsolicited enquiries from top tier business development consultancies and prime players in the conventional loyalty industry.
The Incent crowdfund ends at 23:59 UTC on 30 November. For more information and contact information visit www.IncentLoyalty.com.
For more information about Waves, visit www.WavesPlatform.com.