FAQ

What is Twism Inc.?

Twism is pioneering the next generation of loyalty systems to be based on tokens and blockchains. The company’s platform allows any business to mint its own uniquely branded tokens to distribute to customers, and its tracking technology records all consumers who receive them. Each transaction builds for each business a growing list of its own customers and also compiles all consumer purchase histories and spending habits into one valuable global marketing database.

What is the Twism vision?

We want to be the first company to bring blockchain to the masses. When Amazon founder Jeff Bezos saw that internet usage was experiencing 3400% growth at the time, he had the foresight to quickly mass market e-commerce to eventually create “The Everything Store.” Blockchain and tokens are at a similarly early stage. Twism’s vision is to commercialize blockchain by allowing any and all businesses to easily create their own branded tokens on our platform. The first application we expect is for businesses to reward their customers post-purchase with their own tokens — akin to loyalty points. Twism’s simple token solution works for every business and eliminates the current landscape of fragmented systems that can’t or don’t work with each other. That’s a tremendous market opportunity with widespread and frequent usage.

Why loyalty?

Loyalty is a common use case that nearly everyone understands, and it’s a much bigger industry than most people realize. Companies spend $50 billion1a year on the setup and maintenance of customer incentive programs based on points, offers, gift cards, and the like. When a loyalty program is successful, it can account for 20% of a business’ profits. However, current architectures are archaic and fragmented. It’s cumbersome for consumers to carry around several paper punch cards or juggle multiple systems. It’s no surprise that half of all loyalty program accounts are inactive, and an estimated $500 billion2 in points is left unredeemed by customers. Twism’s token-based solution makes loyalty a simple plug-and-play application for any business and consumer to use.

Besides Amazon, another Seattle-based company has inspired us: Starbucks. Its mobile app is one of the most successful programs in the world. Besides managing loyalty points and allowing for mobile payment, there is a hidden advantage to the Starbucks loyalty program–namely, stored value. Customers load up their prepaid cards on the phone app regularly, essentially lending the company nearly $2B in interest-free deposits. This earned Starbucks over $150MM in interest last year alone. Another example of float is PayPal, where the company is sitting on $15B of money that users have received but not yet transferred to their bank accounts. Stored value has allowed these companies to hold more cash than many regional US banks have on deposit. Twism’s universal loyalty app provides the same unique functionality to every other business.

What features do the tokens have?

The Twism technology allows the same token instrument to be used for many purposes. Besides serving as loyalty points, the same digital assets in the form of a token can be used as coupons, gift cards, rewards for constructive feedback, and as a means to pre-load value at any particular location (stored value). Businesses can also set tokens to perform like coupons or promotions, where if these tokens are not used by a certain date or time they simply expire or are “burned.” Therefore, a business can use Twism’s one-stop and comprehensive token technology for many of its marketing needs, eliminating the need for an array of multiple offerings.

How do consumers receive tokens?

Consumers can receive tokens in several ways:

  • Making a purchase of goods and being rewarded with loyalty tokens
  • Pre-buying stored value
  • Geolocation: by walking in proximity of businesses and being airdropped tokens
  • As promotions or offers in lieu of tokens
  • Referral programs whereby they are referred to certain businesses by frequent customers
  • Sending feedback to their merchants
  • Joining merchant birthday clubs
  • Trading the tokens they have for ones they want

Where are the tokens stored?

Tokens are stored in the Twism Wallet App where consumers can hold and redeem all accrued tokens from each merchant.

What else does the Token Wallet App do?

Beyond convenient storage, the wallet allows users to:

  • Trade/share/gift tokens from one consumer to another
  • See an activity feed and view where friends have earned their tokens
  • Receive airdropped tokens as promotions from merchants
  • Communicate directly with participating businesses
  • Join birthday clubs
  • Benefit from merchant referral programs
  • Participate in any merchant’s marketing event or promotions
  • Purchase tokens from merchants

Why is a token-based system better than loyalty points?

For consumers:

  • Offers the convenience of having all loyalty currency in a centralized wallet and eliminates need to keep punch cards
  • Allows for peer-to-peer loyalty token sharing through a digitized exchange marketplace
  • General enjoyment of gamification and an efficient consumer experience

For merchants:

  • Allows control of the token value and rules for token redemption that can influence buying behavior
  • Lets businesses pre-sell tokens at a discount to encourage patronage while alleviating cash flow issues
  • Provides the ability to brand all marketing and promotions
  • Allows for incentivized consumer data collection and the ability to follow trends
  • Creates individual branding opportunities
  • Generates unique marketing solutions, such as geolocated, ad hoc, or time-dependent promotions

Why does Twism collect and collate data?

Personalized data is valuable. Personalized data combined with purchase history creates a very valuable database that merchants can access. Further, because Twism is a loyalty company at its core, it incentivizes consumers to share their data to participate in the trading of tokens with peers.

Twism compiles individuals’ rich purchase profiles via its front-end token platform. The back-end relational database is a token-curated registry of hashes recording every such front-end token transaction, continuously compiling an ever-growing valuable database of consumer profiles that all other participating businesses can access for their own needs and targeted consumer outreach. Twism is positioning itself to be a dominant service in the marketplace whereby businesses of all types can access a data registry based on consumer spending habits to acquire more customers.

Similar to data companies that gather one’s search or social media profiles for digital advertising, Twism compiles individuals’ actual purchase and spending profiles for an even more valuable and targeted marketing database.

How does Twism Inc. generate income?

Twism, Inc. will realize revenue from three distinct areas.

  1. Stored Value Platform Management Fees: When merchants pre-sell their branded tokens to consumers, Twism will receive a percentage of that transaction as a management fee.
  2. Data and Messaging: Participating merchants will purchase data directly from the company to acquire new customers, message current customers and to make informed business development choices. Outside entities will also purchase the Twism collated data for their own purposes.
  3. Token Trading Marketplace Platform Management Fees: As consumers trade their branded merchant tokens, a marketplace will begin to develop. Once a robust marketplace has been established, Twism will facilitate these transactions and will receive a transaction fee.

Why does Twism use blockchain technology?

Blockchain has several advantages over central servers when it comes to loyalty management.

  1. Tokens powered by blockchains can combine the functionalities of loyalty points, coupons, gift cards, and more into one token digital instrument. This eliminates the need for several otherwise fragmented services.

  2. Blockchains secure private access to sensitive merchant and customer data by creating cryptographic controls around underlying access and permissions.

  3. An inherent feature of blockchains is to automatically and properly account for the minting, trading, and location of all tokens.

What technology does Twism already have?

Twism already exists in a cloud-based loyalty system marketplace platform called Barkback, with consumers and merchants.

What sets the Twism team apart?

The Twism team and advisory board are composed of proven entrepreneurs, accomplished technology developers, and high-level retail marketing experts. In addition, the founding team has already built an established customer loyalty platform and CRM business with an existing merchant and user base. The team plans on quickly converting all assets onto the blockchain to garner an immediate advantage for marketplace adoption.

It's a tokenized world. Are you in?