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Global WishBasket Shopping Protocol (GloWS)
WHITEPAPER 4.2
www.reckoon.com
Copyright © 2020 Reckoon limited all rights reserved
© RECKOON 1
Table of Contents Introduction .............................................................................................................................................. 2
About Reckoon ..................................................................................................................................... 2
Our Vision and Mission ....................................................................................................................... 2
Our Goal................................................................................................................................................. 3
Global Retail Market Overview .............................................................................................................. 4 Indian Retail Market Overview .......................................................................................................... 6
U.S. Retail Market Overview ............................................................................................................... 7
European Retail Market Overview .................................................................................................... 8
Current Problems and Our Solutions .................................................................................................. 11 Problem ........................................................................................................................................... 11
Our solution .................................................................................................................................... 12
Our Target Market ................................................................................................................................. 14 Competition .................................................................................................................................... 15
Reckoon advantages ..................................................................................................................... 17
The Reckoon Platform: Blockchain Architecture Design ................................................................. 19 Blockchain........................................................................................................................................... 19
Smart Contract ................................................................................................................................... 21
Quorum................................................................................................................................................ 21
MongoDB ............................................................................................................................................ 22
Artificial Intelligence (AI) Engine ..................................................................................................... 23
High-Level Technology Overview ................................................................................................... 23
High-Level Platform Architecture ................................................................................................... 24
Glows (Global WishBasketRM Shopping Protocol) ........................................................................ 25
Token Economics Model ....................................................................................................................... 26 Utility Token ....................................................................................................................................... 26
Rewards Token .................................................................................................................................. 27
IEO Specification Summary and Funds Distribution ..................................................................... 27
ROOK ERC20 Utility Token Characteristics .................................................................................... 28
Token Distribution ......................................................................................................................... 29
Early sign-up user incentive ........................................................................................................ 30
Use of Funds ................................................................................................................................... 31
Token Specifications ..................................................................................................................... 33
Business Model Description ................................................................................................................ 34 Revenue Streams ........................................................................................................................... 34
Financial Projections ..................................................................................................................... 35
Conclusions ............................................................................................................................................ 36 Roadmap ................................................................................................................................................. 37 Team ........................................................................................................................................................ 38 DISCLAIMER AND RISKS DECLARATION .............................................................................................. 40
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Introduction We believe the future of shopping will be driven by shopper’s intent & supported by technology that blends the online + in-store shopping journey.
Next couple of years are poised to be a transformational year for retail. Technology continues to change the rules of engagement, consumers are more demanding than ever, and getting them to notice your brand amid all the noise in the market is an even greater challenge.
About Reckoon These are exciting times, we have come a long way since 1979, when online shopping was invented by Michael Aldrich — and centuries earlier, when we were first introduced to the concept of in-person shopping.
Reckoon is reinventing and celebrating the spirit of shopping, combining the best of both online and in-store to leverage the social power of online with satisfaction of physical shopping experience. Moreover it will disrupt the current retail market and engage shoppers via WishBasketRM for worldwide shopping. This provides a global reach to local brands and hyper-local exposure to global brands.
Reckoon is implementing a Progressive Personalisation approach using AI and ML. Making it easier for the shoppers to provide the required information at the right time for the right reasons.
Our Vision and Mission Our vision is a world in which online and in-store shopping don’t compete against each other, but rather encourage each other. This will be driven by an understanding of shoppers’ intent and creating the best possible experience for shoppers.
Reckoon is shaping the future of the retail industry by providing Blockchain & AI Based Global Shopping Platform as a Service. At the core of our End-to-End shopping ecosystem is the Global WishBasket Shopping Protocol (GloWS), providing standardised and universal way to fulfill the shoppers WishBasket.The strength of GloWS is to help the retailers and brands work collaboratively for a better outcome for both retailers and shoppers.
We are on a mission to bring out the uniqueness of every town and city around the world via shopping, allowing global and local product to work in symbiotic relationship. All of this will provide a wider and richer shopping experience to shoppers.
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Our Goal Considering the fact that global retail sales are gradually increasing and will reach $27.73 trillion in 2020, with the ecommerce sales reaching $4.5 trillion by 2021, Reckoon’s goal is to enter this market and provide merchants and customers alike with enhanced opportunities and multiple solutions. In addition to this the global loyalty-management market was valued at U.S. $1.94 billion in 2016, and is projected to reach $7.3 billion by 2022, growing at a CAGR of 24.73% between 2017 and 2022.
Gen Z will comprise 32% of the global population of 7.7 billion in 2019, millennials will account for a 31.5 percent share, based on Bloomberg analysis of United Nations data, and using 2000/2001 as the generational split. Primarily focusing on Gen Z and millennials, which is around 63% of the total population and engaging them on their shopping journey with existing shops and brands as their tastes and requirements change over time.
Reckoon’s top priority is to provide solutions utilizing Blockchain technology. This will ensure even greater efficiency, transparency, and cost reduction, thereby improving brand authenticity and sustainability.
Reckoon aims to go deep and wide into this market to generate better revenue from our app than currently offered by any other platform. Our business revenue model is based on subscriptions, Transactions and Consultancy. In addition, Reckoon is hoping to increase the online shopping traffic creating additional revenue source from transaction fees %.
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Global Retail Market Overview As a result of the economic boom and globalization, many businesses and organizations have been able to set up trade and retail processes across international borders. With technological development and the use of the worldwide web, multimedia, and social channels, the retail industry has significantly changed its dimensions by combining markets worldwide.
According to Deloitte, the disruption of traditional business models across the retail industry has given way to unprecedented and transformative change. Both online and offline, retailers are scrambling to serve more demanding shoppers and redefining the customer experience. Innovations and transformations are happening faster and at a greater magnitude than ever, presenting challenges for retailers accustomed to balancing conventional performance metrics like growth, profitability, and space productivity.
According to 2017 business.com updated report has stated that the following e-commerce markets have the highest shares:
However, Statista calculations suggested, India will rank first in terms of B2C e-commerce development with a compound annual growth rate of 17.8% from 2019 to 2023 period.
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Ecommerce market: highest shares
According to Statista, global retail sales will gradually increase and will reach 27.73 trillion U.S dollars in 2020. As per the Enterprise Guide, global e-commerce sales will reach $4.5 trillion by 2021. The retail market is mature and highly competitive in the developed economies of Europe and North America. However, the developing economies of Asia-Pacific, the Middle East, and Latin America have been instrumental in driving market growth.
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When looking at e-shopping in EU, 38% of consumers decided to buy cross-border in 2017. Of those, half chose to buy from an e-retailer based in their own country. Only 19% bought from another EU country and 13% bought from an e-retailer outside the EU. The e-commerce, by its very nature, facilitates the movement of goods and services across the border, yet not all countries feature cross-border e-commerce at the same level. Research suggested that the U.S. retailing is currently undergoing two significant shifts –
Technological and, Changes in consumer behavior.
Shops that understand and overcome both shifts will thrive. According to Deloitte’s retail trends for 2018 report, retail business focus remains
Selling online-instore Getting personal with AI and, Brand authenticity and sustainability
According to Statista, there were 1.66 Billion Global Digital Buyers in 2017, Worlds population is around 7.6 billion people. That means 21.8% of the World’s population buys online, and in 2021, the number is expected to rise to over 2.14 billion. That is a huge pool of potential buyers.
Reckoon is mainly targeting Gen Z and Millennials which is around 63% of the total population as of 2019. Millennials are the digital natives of our society. As Millennials grow older and enter the workforce their spending increases. It’s expected that Millennials’ online shopping will increase exponentially in the future and far surpass online spending by older generations.
Research suggested Millennials view the products they buy as an extension of their image and if a product doesn’t have a positive effect on their desired self-image, they won’t buy it.
Online shopping is becoming more popular than ever, and as per Statista, by 2021, e-commerce sales are expected to reach 17.5% of retail sales worldwide. So creating a better online experience (an area most online stores fall short) is very crucial. Converting visitors into customers is getting harder because of the fierce competition online. Only lowest prices and best product is no longer enough, providing personal shopping experience for the individual visitor is the key.
This indicates an amazing opportunity for Reckoon, while addressing current issues, Reckoon’s priority is to create shopping ecosystem, providing shoppers with a One-Stop-Shopping-Platform that enables the direct connection to brand ambassadors. By helping shoppers and brands/shops to associate with each other, Reckoon unites the whole ecosystem in a more efficient manner. Reckoon is providing technological aspect with consumer behavior, adding significant value to both physical and online retail industry.
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Indian Retail Market Overview According to India Brand Equity Foundation research report1,
India's retail market is expected to increase by 60 per cent to reach US$ 1.1 trillion by 2020, on the back of factors like rising incomes and lifestyle changes by middle class and increased digital connectivity.
Indian retail market size, 2015-2020
Online retail sales are forecasted to grow at the rate of 31 per cent year-on-year to reach US$ 32.70 billion in 2018 and around US$72 billion in 2022.
India is expected to become the world’s fastest growing e-commerce market, driven by robust investment in the sector and rapid increase in the number of internet users. Various agencies have high expectations about growth of Indian e-commerce markets.
1 https://www.ibef.org/industry/retail-india.aspx
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Indian Market Size
CAGR 12.89%
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. Total consumption expenditure is expected to reach nearly US$ 3,600 billion by 2020 from US$ 1,824 billion in 2017. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
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The Indian retail trading has received Foreign Direct Investment (FDI) equity inflows totalling US$ 1.59 billion during April 2000–December 2018, according to the Department for Promotion of Industry and Internal Trade (DPIIT).
The Government of India has taken various initiatives to improve the retail industry in India. Some of them are listed below:
The Government of India may change the Foreign Direct Investment (FDI) rules in food processing, in a bid to permit e-commerce companies and foreign retailers to sell Made in India consumer products.
Government of India has allowed 100 per cent Foreign Direct Investment (FDI) in online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India.
U.S. Retail Market Overview According to Statista research, the U.S retail market is constantly growing. In 2018, online sales of physical goods amounted to U.S. $504.6 billion, and are projected to surpass U.S. $735 billion in 2023.
U.S. retail e-commerce sales in the United States from 2017 to 2023 (* estimated projection).
Retail ecommerce of apparel and accessories in the U.S. is projected to generate over $138.7 billion in revenue by 2022. The United States ranks behind several countries in terms of e-commerce sales as a percentage of total retail sales: in 2016, almost a fifth of China's retail
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Projected US retail e-commerce sale
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sales occurred via the internet, compared to only 8.1 percent in the United States. The U.K., South Korea, and Denmark are also ahead of the U.S. in terms of the retail e-commerce share2.
Below chart indicates U.S retail sales with online market shares.
U.S. online retail sales and market share
European Retail Market Overview Statistics show that the European e-commerce market is experiencing positive growth across all of the most important countries, resulting in dynamic and fast-growing industries. The share of e-commerce users in the European Union has consistently increased, showing that
2 https://www.statista.com/statistics/272391/us-retail-e-commerce-sales-forecast/
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Total Online Sale Rest of Online Market Share Online Market Share
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In general, year-to-year retail sales have grown, influenced by a robust economy. Increased global digital access is another driver influencing e-commerce, including mobile use and internet penetration during the rapid market rise. Meanwhile, according to FTI Consulting’s annual U.S. Online Retail Forecast, online sales in the U.S. are expected to reach $660 billion by 2020, and $1 trillion by 2025. The current forecast features a CAGR of nearly 10 percent.
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companies are investing in their online presence while users, or customers, are confirming their interest in online services.
BNP Paribas research stated that in the Eurozone, retail trade stood at +1.7% in 2018, and should reach +2.1% in 2019. In major markets, compared to 2017, weaker growth is expected for this year: Germany +1.2% (vs. 3.0%), France +2.8% (vs. +3.7%), and the U.K. +1.7% (vs. +2.1%). Over the last few years, thanks to the dynamic economy, retail sales growth in CEE countries remained strong in 2018: Poland (+6.0%), and the Czech Republic (+5.3%).
Retail is facing structural changes. Physical stores must continue to adapt their strategies to the change in consumer preferences. European online sales are still increasing (+13.6% in 2017. Source: E-commerce Foundation), but at a slower pace compared to 2016 (+15.4%) and previous years. They are now particularly driven by growing internet penetration from southern and eastern countries.
Internet penetration and growth in Europe is increasing at a steady pace, with a projected 83% of individuals connected in 2018. Northern Europe holds the lead in this regard, with almost 95% of the population having Internet access. Levels of online shopping differ greatly across the region, and represent a large potential audience for growing the consumer base in the future. Countries such as the U.K., Germany, France, and Sweden represent markets with mature e-commerce consumer bases accustomed to ordering goods/services over the internet.
Retail e-commerce sales as share of retail trade in European countries from 2015 to 2017
Western European retail sales are driven by:
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Germany
France
Sweden
Netherlands
Europe aerage
Switzerland
Austria
Belgium
Spain
Poland
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Share of retail trade in European countries
2017 2016 2015
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Advanced infrastructure
High internet penetration
A high level of consumer trust
Familiarity with online shopping
The largest e-commerce markets in Europe are:
the U.K. (€178 billion)
France (€93.2 billion)
Germany (€93 billion)
Of all countries featured in this report, Macedonian and Portuguese consumers are the most likely to purchase from a foreign e-retailer, at a rate of 85 percent. This level stands in stark contrast with other countries, such as Turkey (2%), Romania (3%), and Poland (6%). Among the challenges facing e-commerce consumers, speed of delivery tops the list (17%), with technical failures also representing a big issue for consumers (11%).
Marketplaces are an ever-present feature of the e-commerce world. The top three players are Aliexpress, Amazon, and eBay, which all operate as global players. Looking to Europe, Amazon and eBay are more firmly entrenched, with a higher rate of visits from online users. One example of this can be found in the U.K., where 33.5% of all online spending goes through Amazon. Not all marketplaces behave in the same way, however, and strategies for continued growth differ. Growth has taken place primarily through acquisition and investment.
The U.K. also holds the top position for E-GDP (total e-commerce turnover/GDP = Share of GDP), with a 2017 rate of 7% and a projection of 8% for 2018. E-commerce sales in Southern Europe are on the rise, with a projected jump of 4% between 2017 and 2018 (from 14% to 18%). On a country-by-country basis, Romania has seen the largest e-commerce growth, with a significant growth rate of 37 percent.
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Current Problems and Our Solutions Problem Currently, the global e-commerce market does not provide single-platform for brands and retailers to ensure that shoppers have access to a personalized shopping experience. Brands and shops across the globe are not yet connected on a single platform, and this is negatively affecting global trends and buying choices. Online and physical shopping journeys are currently disconnected, resulting in a high total cost of ownership for fast-moving technology. As the retail sector is facing challenges in keeping up with shifts in shoppers’ behavior, it is crucial to provide upgraded and enhanced technological solutions.
Disconnected Online/In-Store Shopping Journey
Consumers are using multichannel buying experiences, eTail, 2019 report suggested ‘around 96% of Americans utilize online shopping in one way or another. However, those same Americans spend about 65% of their total shopping budget in traditional brick-and-mortar locations.’ But often online and in-store shopper journey is disconnected, and shoppers are missing out on linked opportunities.
When transitioning between online and in-store experiences, customers not only want the same products to be available, they also want their experience to be seamless. This means, if they are a regular online customer, they want to be treated like a regular customer when they visit a brick-and-mortar location. If they made an online purchase earlier in the day, the in-store systems should already have a record of it.
Silo marketing
Modern marketing makes it necessary for businesses to engage with their customers across many different channels. However, with multiple various channels, it’s not uncommon for customer to become overwhelmed with conflicting, bombardment of marketing communications. It can easily have the opposite of the intended effect and drive customers to competitors with a clearer and more congruent message.
Shifting Shopper Behavior
Consumers behavior, demand, need is constantly changing. They want pre-tail access, they want next generation products and they want social shopping. Shoppers are more demanding than ever, and getting them to notice your brand amid all the noise in the market is an even greater challenge
Moreover, world is getting smaller and closer, choices are increasing, influencing sources are getting wider, new generation getting more specific and demanding, addition to this time and privacy remains the key. The core problems Reckoon is addressing includes,
© RECKOON 12
High TCO & Fast-Moving Technology
Constantly changing technology landscape raises the question of the right technology fit and comes with challenges of high cost, specialised skills and time for quicker adaptability to the market.
Our solution Reckoon provides the Global Shopping WishBasket Protocol (GloWS), a standardised and universal ways to fulfil shoppers wish basket, it will be a global shopping platform for brands and existing retailers based on Blockchain and AI technologies. GloWS will use smart contract to execute a better outcome for retailers and shoppers, thereby improving brand authenticity, sustainability and improve shopper experience. To solve current problems and provide the best shopping experience, Reckoon ensures the following:
Global WishBasket Shopping Protocol (GloWS), providing standardised and universal
ways to fulfil shoppers wish basket.
A collaborative way for the brands and retailers to work together.
A decentralized shopping ecosystem
Global shopping currency
Global brands get hyper-local exposure and local brands get global reach
Reinvention of shopping with hyper-personalisation
Simplified, rewarding shopping journey on a single global platform
Improving brand authenticity and sustainability
Understanding the AI advantage is another crucial aspect. Reckoon uses AI to analyse the shopper’s intent and suggest relevant shops, brands and products. With the development of Blockchain technical solutions, It will allow retailers/brands to gain more by the single global platform to market the product, providing the loyalty/brand ambassador and personalised deals as well as geo-local shopping discovery. Allowing the retailer to focus on their core competencies while taking care of ever-changing technology landscape.
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Reckoon Shopping Ecosystem: Shopper’s journey
Reckoon will significantly reduce capital expenditures of a retailer/brands that uses their services, increase customer satisfaction of the retailer, increase sales opportunities, increase revenues, and improve online/in-store shopping journey. Shoppers will benefit by having a single sign on for their all shopping activities, personalized shopping experience deals and brand belongingness, keep updated with local and global trends/advices as well as providing the control back to shoppers to manage their personal data sharing.
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Our Target Market Considering the fact that global retail sales are gradually increasing and will reach $27.73 trillion in 2020, with the ecommerce sales reaching $4.5 trillion by 2021, Reckoon’s goal is to enter this market and provide merchants and customers alike with enhanced opportunities and multiple solutions. Addition to this the global loyalty-management market was valued at U.S. $1.94 billion in 2016, and is projected to reach $7.3 billion by 2022, growing at a CAGR of 24.73% between 2017 and 2022.
The Bynder past report states that brand marketers’ top priorities were:
Consequently, Reckoon’s goal is to redefine the shopping journey and enhance brand belonging by providing a global one-stop shopping platform.
Gen Z will comprise 32 percent of the global population of 7.7 billion in 2019, millennials will account for a 31.5 percent share, based on Bloomberg analysis of United Nations data, and using 2000/2001 as the generational split. Primarily focusing on Gen Z and millennials, which is around 63% of the total population and engaging them on their shopping journey with existing shops and brands as their tastes and requirements change over time.
engagement16%
customer experience27%
customer experience18%
new customer acquisition19%
brand awareness20%
BRAND MARKETERS TOP PRIORITIES
Reckoon aims to go deep and wide into this market to generate better revenue from our app than currently offered by any other platform. Our business revenue model is based on subscriptions, Transactions and Consultancy.In addition Reckoon is hoping to increase the online shopping traffic creating additional revenue source from transaction fees %.
© RECKOON 15
Reckoon aims to enter the biggest ecommerce markets as below:
During the first year, the goal is to focus on the markets of the UK, Europe following by USA and India for both retailer and shoppers, which is 44% of the global retail market size as of 2018 market research data.
The focus is a shopping malls and popup communities in these regions as well as starting lateral expansion into other market places, Global retail chains, Local and small retailers.
Reckoon is also planning to provide the free subscription service to charity shops, supporting good cause, this will also allow to attract the shoppers as currently very few charity shops have an ecommerce presence.
According to ecommerce market shares, these three target regions provide the following data:
Target ecommerce market shares
Region Europe India USA
ecommerce market share
Amazon - 25% AliExpress - 14% Ebay - 8% Wish - 8% Zalando - 2% Asos - 1% Apple - 1% Others - 31%
Amazon - 31% Flipkart - 32% Paytm Mall - 5.6% Myntra - 5% Snapdeal - 2.5% Jabong - 2.2% Shopclues - 2.1% Others - 19.6%
Amazon - 33% Walmart - 7.8% eBay - 7.4% Apple - 4.7% Valve Corporation - 1.8% Macy’s - 1.6% The home depot - 1.4% Others - 42.3%
Although Reckoon plans to enter the above-mentioned markets, its top priority is to provide solutions utilizing Blockchain technology. This will ensure even greater efficiency, transparency, and cost reduction, thereby improving brand authenticity and sustainability, As such ecommerce retailers mentioned above can also be part of Reckoon’s shopping ecosystem, bringing win-win results to both ends. Reckoon will also allow brands and shops to move toward a more integrated online/offline user journey and a better user experience.
Competition
Direct Competitors
Reckoon’s top priority is to provide solutions utilizing Blockchain technology. This will ensure even greater efficiency, transparency, and cost reduction, thereby improving brand authenticity and sustainability. Reckoon will allow brands and shops to move toward a more integrated online/in-store user journey and a better user experience.
We have analyzed the top Blockchain ecommerce platforms and applications in order to conduct a competitor analysis. All of these platforms function globally, providing cross-border operations.
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Competitor analysis
Retail.global Storiqa Eligma KEYRPTO/
Markyt
Reckoon
Blockchain platform
Ethereum, Hyperledger
Ethereum Mainnet
Ethereum Mainnet
Ethereum Mainnet
Quorum
Business model
Business-as-a-service ecosystem
Global marketplace for small-scale business
Blockchain- based cognitive commerce platform
Blockchain- based ecommerce marketplace
Global Shopping Platform as a Service
WishBasketRM No No No No Yes
Geo-Location Yes No No No Yes
AI engine No No
Yes No Yes
Loyalty Program Yes Yes Yes Yes Yes
Charity programs No No No No Yes
Additional entertainment (games)
No No No No Yes
Payment Solution Yes Yes Yes Yes Yes
Linked /in-store shopper Journey
No No No No Yes
As a result of this analysis, we can state that none of the solution listed above but Reckoon offer a single, unified global platform, a shopping ecosystem for brands and retailers to provide customers with a personalized shopping experience. Only a few platforms provide the option of geolocation and artificial intelligence implementation.
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Based on the current intelligence, there is no independent company out there specializing in a Shopping ecosystem as a global platform service what Reckoon is offering to consumers. No single company is known to be employing a concept of establishing a single point of presence on the Internet for consumers to provide global shopping platform to connect online-instore shopping journey.
Internal Competitors
The first competitors to the new service are the online retailers themselves. Since Reckoon will need to strike partnerships and strategic agreements with retailers in order to offer its services, they are classified as internal competitors. Retailers may perceive that their internal existing procedures are adequate and fully meet customer demands. However, multiple market research and analysis suggests disconnected online-instore shopper journey, high technology TCO and shifting in shopper’s behavior are the biggest challenges across the retail industry. Consequently, Brick and mortal retailer chain with online presence have a challenge providing location-based shop’s deals and personalised shopping experience to online shoppers. Reckoon will not only connect online-instore shopping journey but will also provide global platform to local brands and hyper-local reach to global brands.
Channel Competitors
Thinking in reverse to the previous paragraph, service providers such as individual loyalty programs, marketing agencies, consumer data and analytics services. But retailers will be shortchanged in overall customer satisfaction, information exchange, total costs, and additional selling opportunities and extended reach. Shopper, on the other hand, will have no control over their personal data and their data with multiple sources can bombard them with promotional material.
No single service company can fully provide the range of benefits as the proposed company Reckoon can. Reckoon will also arrange strategic alliances with numerous independent services for both retailers and shopper.
Reckoon advantages
Shopper’s Benefits A personalized shopping experience and deals based on their wish basket.
A global, one-stop-shopping platform that connects all new and existing brands and retailers
Hybrid shopping, both in-store and online
The challenge for shopping apps is to survive the period between shop visits. With mobile space at a premium, shoppers are likely to remove the app after every shopping trip. Reckoon provides strong brand association by rewarding shoppers with the things they want to buy. This gives users incentive to keep the app and keep interacting with it.
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The ability to become brand ambassadors; a sense of belonging Single sign on for shopping ,Full control over personal data
Retailer/Brand Benefits Improve revenue by increasing market reach and customers Improve customer satisfaction Increase customer engagement & retention Improve loyalty (belonging & brand recognition) Improve trust & transparency Low TCO and advanced technologies Reckoon AI engine will help retailers in advance of anticipated shoppers demand based
on forecasts, seasonal demand planning and historic trends.
Shopping malls/Market places Improve in-store shopping Support digitalization Improve market for locally produced goods.
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The Reckoon Platform: Blockchain Architecture Design Blockchain technology serves as fuel for global economic growth, providing efficient solutions in all industries and boosting organizational workflow processes and maintenance. It unites businesses, companies, and entrepreneurs, allowing everyone to share information in a fast, secure, transparent manner worldwide.
The adoption of Blockchain within the e-commerce industry is imminent and will ensure a multi-functional approach to solving industry problems.
Core of the Reckoon is a Global WishBasket Shopping Protocol (GloWS) which provides the standardised and universal ways to fulfill the shoppers wish basket.
Blockchain Blockchain is a distributed, decentralized public ledger that stores data and records of transactions transparently and securely. Blockchain technology is immutable in nature: once a record is entered into a block, it cannot be changed or tampered with.
The e-commerce industry appears to be a bright use case for Blockchain applications. Retail operations rely heavily on customer demand, transaction and payment operations, and Blockchain technology takes it one step further by increasing the trust, speed and efficiency of these processes. Furthermore Blockchain distributed architecture can help decentralise web presence for a retail chains.
Both online and in-store, retailer wishes to transform their value chain, make it inclusive, transparent, traceable, and trustworthy to serve more demanding shoppers and redefining the customer experience. As well as, balancing conventional performance metrics like growth, profitability, and space productivity.
Reckoon’s Global WishBasket Shopping Protocol (GloWS) will provide the standardised and universal wish basket protocol to help individual retailers integrate their supply chain and marketing efforts with reckoon.
Rethinking of Retail value chain ecosystem.
Using the Oxford Blockchain Strategy Framework, developed by Oxford University we have analysed the use cases and reasons for applying Blockchain within the retail and e-commerce industries.
Immutability. Blockchain ensures the most secure data storage for online platforms. Due to its transparent nature and immutability, there is no chance for any data or transactions to be deleted or changed after being entered into the ledger. Reckoon’s GloWS protocol will immutably record the collaboration between retailers.
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Functional integration. One of its biggest advantages is that Blockchain technology can be applied as an additional layer to an existing business model. This enhances business workflow and provides a range of benefits, such as speed and cost-efficiency. In addition, it is possible to connect Reckoon with other entities and stores to establish a multi-functional e-commerce environment. Reckoon GloWS protocol will allow retailers to integrate with their own supply chain using Reckoon’s API.
Cost reduction. Blockchain allows businesses to significantly lower expenses in business operations, as payment transactions, inventory maintenance, and administrative work can all be combined into one system. Paperwork or human factor involvement can be significantly minimised. Reckoon will provide a versatile shopping Blockchain based platform which will reduce retailers technology cost significantly with enhanced and advanced features,
Accountability. Blockchain allows retailers to track and record e-commerce transactions sequentially and indefinitely, which ensures an immutable audit trail of assets traded between users.
Loyalty rewards. With smart contracts, the process of rewards generation can be fully automated. Records of all purchases and sales will be stored in the ledger, which will allow a smart contract to track them and issue rewards tokens directly to user wallets.
Transparency and traceability. Users will be provided with a detailed product history as well as tracking of product origin, thereby eliminating scams.
Automatization. With smart contracts as digital agreements between participating parties, all trade becomes automated and is conducted without paperwork or human error.
In terms of safe transaction processing, smart contracts step in to ensure that all participants comply with their obligations with no chance of loss or fraudulent behavior.
The three layers of Blockchain
Blockchain technology consists of the protocol layer, the network layer and the application layer.
Protocol Layer
This layer helps make decisions about public or private block chain implementation, Design expectations regarding speed, programmability, or payment functionality. Reckoon has opted for a private blockchain that will only be accessible to the registered shoppers and retailers.
Network Layer
This layer helps decide who will run the node, what is the technology integration requirement, what are the data storage requirements regarding archiving and usage regulations. Reckoon will run its nodes on Quorum sidechain. This will make integration with Ethereum Blockchain easy and frictionless.
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Application Layer
This layer helps us take decisions on application designs; product service based on applications users. The DApps created for the shopper and retailers will be easily able to talk between the blockchain and data store using the microservices.
Smart Contract A smart contract is a digital agreement between two or more participants that is written in code on the Blockchain ledger. Smart contracts allow for automated deal settlement as long as all participating parties meet preexisting requirements. In case of failure in this area, the smart contract will not execute the deal, thereby ensuring that everyone stays on the safe side.
Reckoon utilizes Blockchain technology to provide shoppers, merchants, and brands with the ability to:
Reckoon’s Global WishBasket Shopping Protocol (GloWS) will provide the standardised and universal wish basket protocol and also help individual retailers to integrate their dApps and supply chain.
GloWS will use smart contract to execute better outcome for retailers and shoppers. Shop and shoppers worldwide and can use ROOKs as a universal payment unit Vote on brands, shops, and products to earn rewards and use them for purchases Take part in supporting UN’s sustainable development goal charity and donation
campaigns in a transparent and secure environment Use digital smart contracts to automate the shopping procedures without manual
intervention Provide tamper-resistant data tracking and analysis through the use of utilizing AI in the
Blockchain.
Because Reckoon is going to provide access to its platform and functionality only to registered users, brands, and shops, a public platform doesn’t appear to be the best match. We have decided to go with the Quorum Blockchain, as it is an Ethereum-based framework supporting public and private contracts.
Quorum The Quorum Blockchain is an open-source private network developed by JP Morgan using Ethereum libraries. It is a permissioned the Blockchain, meaning that not everyone will be able to join the network and take part in the consensus-reaching process. All participants are pre-approved by a designated authority.
The deployment of a Quorum sidechain will allow us to execute public Ethereum contracts visible to participating parties within the Reckoon platform and keep certain information private, visible only to pre-defined participants.
Reckoon’s Quorum-based sidechain will function according to a Proof of Authority (PoA) consensus algorithm. Reckoon will deploy its own nodes within the private Quorum
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environment to serve all operational activities. This means that actions and transactions within the platform will only be conducted once they are approved by Reckoon nodes with authoritative influence.
The benefits of Quorum include the following:
Ideal for any application requiring high speed and high transaction throughput Functionality within a permissioned group of known participants Adoption and applicability to the financial and e-commerce industries Integration of Ethereum smart contracts and ERC20 token standards
The Reckoon ecosystem has been developed as a private Blockchain with a hybrid token model. With the user-friendly interface, shoppers, retailers, and brands will be able to utilize the Blockchain without any specific knowledge about its functionality. In order to access the Reckoon platform, users will need to transfer ROOKs to the platform’s wallet and use them for platform activity. Additionally, users will be able to take part in the loyalty program and earn reckoolings for their activity on the reckoon mobile app.
Shoppers will be able to track transactions within their internal wallets. However, the history of all transactions within the Reckoon ecosystem will be visible only to participants who have been granted access.
Brands and retailers will be assigned internal wallets, as well. These wallets will have a multi-signature feature that will allow certain actions or transactions as long as they are signed off on by two-thirds of the associates.
Reckoon’s Global WishBasket Shopping Protocol (GloWS) will provide standardised and universal way for retailers to fulfill shoppers wish basket with better outcomes for both shoppers and retailers using smart contracts. Retailers will also be able to integrate with their other dApps and supply chain using Reckoon’s API.
All operational activities and the token-flow processes within the Quorum sidechain will be stored immutably in off-chain data storage within the Blockchain environment. User activities and interactions with the Reckoon platform will be stored in MongoDB off-chain data storage, providing a convenient way of getting the most relevant search results via AI engine.
MongoDB MongoDB uses JSON-like documents to store schema-free data. In MongoDB, collections of documents do not require a predefined structure, and columns can vary for different documents.
MongoDB has many features of a relational database, including an expressive query language and strong consistency. However, since it is schema-free, MongoDB allows you to create documents without having to create the structure for the document first.
Documents are like records in an RDBMS. Documents can easily be modified by adding or deleting fields without having to restructure the entire document.
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A replica set in MongoDB is a group of mongo processes that maintain the same data set. Replica sets provide redundancy and high availability and form the basis for all production deployments.
Artificial Intelligence (AI) Engine At the heart of Reckoon’s Global Shopping WishBasket Protocol (GloWS), intent-based recommendations are AI and ML, which work to provide the best suggestions based upon weather, intent, location, time of day, demographics, and category of product and event.
Artificial intelligence is the simulation of human intelligence processes by machines and computer systems. These processes include learning (the acquisition of information and rules for using the information), reasoning (using rules to reach approximate or definite conclusions) and self-correction.
We use progressive customization to collect just the right amount of information from shoppers to achieve the desired outcome. This approach requires us to intelligently associate past and current information. This is also a very GDPR-friendly way to gather information. The AI engine understands when the shopper is shopping for themselves or for family and friends and will provide the best relevant offers.
High-Level Technology Overview
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High-Level Platform Architecture
Workflow Description
1. First, in order to access the Reckoon platform, shoppers and brands will go through registration and verification.
2. After the registration process has been successfully completed, users will be assigned with internal platform wallets, which will grant access to the platform and its features.
3. All shopper and retail data will be then sent to off-chain data storage via hash value.
4. Next, ROOKs (ERC20 utility tokens purchased during an IEO campaign) will be sent to the Reckoon wallet via the firewall to allow smart contracts to check the balance.
5. Retailers, shops and brands will be able to link their inventory information and product details through the microservices.
6. This information will be processed and sent to the Artificial Intelligence/ Machine Learning Engine.
7. When the shopper adds products to ‘Wish Basket’, The AI cloud will analyze their preferences and intentions based upon a range of factors (location, product category, season). The wish basket will be matched with offers from the retailers, to give the best offer available back to the shopper and also give an opportunity for shops to create offers for shoppers on demand.
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8. User balances will be checked by smart contracts for the number of tokens that can be spent on purchases and for personalised offers to be spent in appropriate shops and on specific brands.
9. These smart contracts will request a token balance from the Reckoon wallet.
10. Confirmation of results will be sent back to the smart contract in order for the transaction to be processed.
11. Microservices update the Data Store with the transaction state, this feeds into the Analytics Engine for processing
12. The analytics & insights engine creates a real-time dashboard for the retailers, shops and brands to get information on shoppers in a geo-fenced area.
Glows (Global WishBasketRM Shopping Protocol)
Reckoon’s core will be the Global WishBasket Shopping Protocol (GloWS), providing a satndardised and universal ways to fulfill the shoppers wish basket. GloWS will use smart contract to execute a better outcome for retailers and shoppers. Retailers would also be able to use GloWS protocol to integrate with their dApps and supply chain using Reckoon’s API.
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Token Economics Model Reckoon is based on the concept of an international marketplace. In order to raise funds for platform development and establishment within the Blockchain environment, Reckoon will launch an Initial Exchange Offering (IEO). This type of crowdfunding campaign allows us to sell ROOKs (platform utility tokens) to investors directly through cryptocurrency exchanges.
The benefits of the chosen model is in its simplicity for investors, as the exchange serves as a service provider for the crowdfunding campaign and is responsible for sending tokens to investor wallets in exchange for contributed funds.
Currently, exchanges conduct a precise quality audit and expert review before listing utility tokens so investors can be assured of a trusted and reliable deal settlement.
The initial exchange offering model requires a utility token type. Reckoon is designing and deploying a utility token that can be used to access the Reckoon platform according to predefined features.
Utility Token ROOK tokens are deployed according to the ERC20 utility token standard on the Ethereum Mainnet. This solution is chosen because the Ethereum platform provides the following advantages:
Widespread use and adoption by the community, ensuring the easiest and the most convenient way to invest
Stability and security: the platform is supported by over 50,000 nodes all over the world
Elimination of 51% Attack risk due to the use of PoW and PoS consensus protocols
The ability to use ERC20 token standards, which has been widely adopted by the community
ROOK ERC20 utility tokens will be distributed during the Initial Exchange Offering campaign with the following features:
Access to the Reckoon one-stop shopping platform
For access to the Reckoon platform, users send Reckoon utility tokens to their internal platform wallet. Internal wallets are generated automatically after successful registration on the platform. After the deposit to their internal wallet, users have the ability to use Reckoon platform features.
Charity supporting UN’s sustainable development goals
Users have an opportunity to make donations with ROOK tokens. All donation spending can be verified by users, as all history is stored on the Blockchain in an immutable manner.
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Payment unit
ROOK tokens are designed as the main payment unit for the platform. Using ROOK tokens for purchases provides access to the lowest transaction fee. This approach grants additional liquidity and incentive to use ROOK tokens.
Rewards Token The Reckoon rewards system has designed with an additional ERC20 utility token for rewards payments.
For social and operational activities within the Reckoon platform, shoppers can earn Reckoon ERC20 utility tokens. These will be used only in the internal platform environment and will have no value in the external environment. They can serve as coupons to spend in the shops and stores where they were earned. Rewards will be minted in shoppers’ internal platform wallets as soon as the predefined conditions are met.
When shopper activities require rewards, the Reckoon platform back end will check this, and call the operational smart contract for the minting and sending of the appropriate amount of the ERC20 rewarding utility tokens on their internal platform wallets.
In this case, rewards tokens will also be assigned to the specific shop/brand wallet address to avoid their use for other brands.
As soon as the tokens are spent, they will be burned.
Users will be able to exchange rewards tokens with each other in order to spend them with their chosen shop/brand. In this case, the platform wallet addresses will be formed in two separate arrays:
Shopper wallet address array
Shop/Brand wallet address array
There will be no restrictions on p2p rewards token transactions between addresses from the shopper wallet address array, but there will be a programmed restriction on sending rewards tokens to the appropriate shop/brand wallet address. For instance, rewards tokens that were earned in shop/brand X can’t be spent in shop/brand Y unless they belong to a cooperative association. In addition, shopper A can exchange rewards tokens with shopper B.
IEO Specification Summary and Funds Distribution
Reckoon will conduct an initial exchange offering, releasing utility tokens in multiple phases.
The total token supply for project development will be 500 million tokens. 49 percent of the total token supply (245 million) will be allocated for the IEO public/private sale.
50 million tokens (10 percent of the total token supply) including the bonus tokens will be released during the first IEO phase in the following stages.
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Phase 1
Duration Bonus Tokens Maximum token allocation Inc.
Bonus
Pre-IEO Pre 1-2 weeks 50% 50,000,000
Main IEO Round 1 2 weeks 30% Remaining from Pre-IEO
Main IEO Round 2 2 Weeks 20% Remaining from round 1
The remaining 195 million tokens sale will be followed after the completion of the first phase. sold tokens from the previous phase will carry forward to the next phase until the last phase, remaining unsold tokens will be listed on multiple exchanges as Rook token has a real utility within Reckoon system as a shopping currency.
ROOK ERC20 Utility Token Characteristics
Characteristics Token
Variable value Yes
Tradable on crypto-exchanges Yes
Tradable P2P Yes
Access to Reckoon Platform Yes
Fractional Amount Yes
Available worldwide (depending upon exchange)
The IEO will contain only ERC20 ROOKs on the Ethereum Mainnet.
Token type ERC20
Fees Depends on exchange
Access Exchange-verified users
Max supply 500 million tokens
IEO supply 49%
Team reserve for vesting 27%
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Vesting period See table below
Accepted contributions ETH (TBD)
BTC (TBD)
Fiat (TBD)
Depends on Exchange
Token Distribution Distribution of tokens from the Reckoon token generation event.
Category Amount % Vesting Period
Founders &
85,000,000 17%
3 years
Early Supporters
1 year locked in with quarterly release over 1
year.
Early Sign-Up User Incentive 35,000,000 7% 3 months after full IEO
completion
Team & Advisory Board 50,000,000 10% 1.5 Year cliff with quarterly
release over 1.5 years.
Retention - R&D & Long-Term Foundation 45,000,000 9%
1 year
Communities, Partnerships 40,000,000 8%
1 Year
Bounty -
Token Sale 245,000,000 49%
Discounted/Bonus tokens will be locked-in for 3 months after full IEO
completion.
Max Token Supply 500,000,000 100%
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Figure 16. Token distribution
Early sign-up user incentive The Reckoon project is reserving 7% of our total token supply (35,000,000 Reckoon ERC20 utility tokens) as a reward for early registered users based on their activity and engagement level.
There is a limit of 350000 early registered users. Each early registered user will receive and earn Reckoon ERC20 utility tokens, as described below, in his/her internal platform wallet.
Region Early rewards
user limit
Max. token user can
earn
Token Earning Algorithm Total Tokens
Registration Engagement Referral
Europe & U.K.
100,000 100 40 30 30 10,000,000
North America
100,000 100 40 30 30 10,000,000
Asia 100,000 100 40 30 30 10,000,000
The rest of the world
50,000 100 40 30 30 5,000,000
Early registered users will also be registered as premium users on the Reckoon platform and will have the opportunity to earn other rewards as Reckoon evolves.
Engagement tokens – Time to time engagement activities will be available to earn points on the Reckoon platform and will help users earn engagement tokens from their engagement pool.
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Referral tokens - Early users will be able to refer their friends on Reckoon. Up to six friends registering on Reckoon will allow them to earn early-user referral tokens from their pool. (For example, 3 referred friends registering, user will earn 15 tokens)
Any engagement and referral tokens not earned by registered users within the given time limit will be collected by Reckoon into a separate, unused pool (after reaching the early registration user limit) and will be available to be earned by new users around the world.
This solution provides an additional attractive incentive for platform usage.
Use of Funds Funds raised during the Token Sale will be used for further development and support, operational expenses, marketing, business development, and legal compliance.
Reckoon is allocating:
40% to software development and support 25% for operational expenses 20% for marketing, PR, IR, and business development 7% for legal expenses 8% for reserve and contingency
Figure 17. Funds allocation
Token Generation Event Description
Event IEO Presale Stage
Exchange
Token standard ERC20
Use of Fund
Software development & Support
Operational expenses
Marketing, PR, Business development development
Legal
Reserve & Contingency
40%
20%
8%
7%
25%
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Initial token price TBA
Token amount 50 million (including bonus)
Start date
End date
Bonus Token 50%
Accepted cryptocurrencies TBD
Accepted fiat currencies TBD
Sale will end at this event Presale period ends or token sold
Event Main IEO (Round 1)
Exchange
Token standard ERC20
Token amount Remaining (Including bonus)
Start date
End date
Bonus Token 30%
Accepted cryptocurrencies TBD
Accepted fiat currencies TBD
Sale will end at this event After duration of 2 weeks or token sold
Event Main IEO (Round 2)
Exchange
Token standard ERC20
Token amount Remaining (Include bonus)
Start date
End date
Bonus Token 20%
Accepted cryptocurrencies TBD
Accepted fiat currencies TBD
Sale will end at this event After duration of 2 weeks or token sold
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Token Specifications
ROOK token is the ERC20 utility token on the Public Ethereum Mainnet is used for the following purposes
1. Token-generation event (TGE) for funding 2. Listing on crypto exchanges 3. Transactions between users 4. Access to the platform
Key features of the token economics:
1. Token distribution via TGE 2. Implemented inflation 3. Token price reduction with fees payable in ETH 4. Market-defined token price
ERC20 rewards utility token on the private Quorum sidechain will be used for the following purpose
1. Collecting rewards earned via social interaction and shopping activities 2. Used as a loyalty scheme by retailers 3. There could be other uses within the platform
Key features of token economics:
1. Unlimited supply of ERC20 utility tokens inside the internal platform environment 2. Zero transaction fees inside the platform
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Business Model Description The Reckoon business model is based upon four main stages. The completion and usage will allow us to establish a unique, global shopping environment that combines customers, brands, and stores all in one place. We not only provide users with a unique one-stop-shopping platform, but also allow stakeholders to take part in our token-generation event.
Our business model consists of the following elements:
Token-Generation Event
According to Reckoon’s business model, users have an opportunity to participate in the initial exchange offering in order to purchase multi-functional utility tokens - ROOKs that will grant access to the Reckoon platform and an opportunity to utilize various features. In addition, during the first stages of the IEO campaign users are provided with discounts and bonuses.
A One-Stop-Shopping, Blockchain-Based Platform
The Reckoon project is developing a Blockchain-based ecosystem between shoppers and retailers powered by the AI. We will provide retailers with an easy way to identify their ambassadors, and encourage shoppers to spend ROOKs for multiple needs.
Rewards System
Shoppers will be assigned rewards tokens for operational and promotional activities. These tokens will be provided by retailers and will be spent not only in the shops where they were earned but also in the shop partnership association, which will include several brands and shops from different spheres.
AI Engine
The Reckoon Ecosystem will be powered by an AI engine that will provide shoppers with the most relevant search results according to their preferences, geolocation, recent searches, and/or product specifications. The AI engine will also analyze shopper wishbasket and provide relevant brands and stores where they can make their purchases.
Revenue Streams According to our business model, Reckoon has designed several revenue generation streams divided into three main sections:
Monthly payments
Base App - the base version of the application will allow retailers to send out location-based offers.
Subscription - the extended version will allow retailers to integrate their catalogue and the PoS system with Reckoon and start accepting payments in ROOKs.
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One-time payments Setup Cost - one-time setup fees. Consultancy - consultancy fees to integrate the catalogue system and the PoS system with Reckoon as wells as dApps integration,
Transactional revenues Transactional Revenue - the transactional fee for all purchases made on the Reckoon platform.
Financial Projections Reckoon has three ambitious and obtainable keys to success. Our first key is to engage the shoppers. Early signup users will be rewarded with premium memberships and we will encourage further referral and shopper engagement by providing an early engagement incentive. The second key is the development of Blockchain based application Wishbasket, shopper module followed by the retail module/application. This robust application will be Reckoon's engine that ensures a seamless shopper engagement with gamification and buying intent as well as providing the brand association. Addition to this it will also provide Point of Sale (POS) integration and data analytics (insights) for retailers. Our third key is the formation of strategic relationships with shopping malls, market places, pop-up market owners, market place and in UK approaching Business Improvement Districts (BIDs), expanding into Europe and across the globe. The relationships with above will allow Reckoon to quickly grow their customer base of retailers served. Partnerships with online payment companies will allow Reckoon to offer additional source of revenue.
Reckoon's financials are conservative yet quite promising. Once we are up and running and sign up shoppers and some retailers as customers, Reckoon will quickly gain momentum and generate impressive sales. Global revenue for year two will be £30 Million, climbing to £162 million by year five.
The Reckoon financial projections look as follows:
Figure 18. Reckoon financial projections in GBP
£4
£30
£79
£162
£0
£20
£40
£60
£80
£100
£120
£140
£160
£180
2021 2022 2023 2024
Mil
lio
ns
Revenue Projection
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Conclusions Reckoon is solving one of the biggest problems for retailers worldwide. The problem of understanding the shopping behavior of the new generation shoppers. Reckoon provides a Global WishBasketRM Shopping Protocol (GloWS) to connect the shopper and retailer in the moment of time, giving the shoppers the best shopping experience and providing the retailers with focused selling thus reducing the Cost-to-Sell.
In summary the highlights of reckoon are Global WishBasketRM Shopping Protocol (GloWS), connects the worldwide retailers to
the shoppers. GloWS is, a standardised and universal ways to fulfil shoppers wish basket.
Reckoon gives hyper-local exposure to global brands and global reach to the independent retailers
Reckoon is providing shoppers with the best value for money on their shopping via progressive personalisation
A blockchain-based ecosystem to facilitate the transactions between shoppers & retailers, retailers & retailers.
Retailers get real-time insights into WishBasketRM, this helps them collaborate and plan for the best way to fulfil a shoppers WishBasketRM.
The ROOK utility token can be used on the platform as a payment currency, there will be added benefits for the retailers and shoppers on the usage of ROOK.
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Roadmap Product Development Business Development
Roadmap
Idea evaluation concept creation
2017 Reckoon company establishment Trademark registration
Design and MVP development 2018 UK marketing and PR for retailers, shopping malls and consortium
2019
Blockchain technology evaluation for reckoon
Q1, Q2 Market Research Marketing & Strategy Development
White-paper creation for Blockchain development
Techonomic & IEO preparation
Q3,Q4 Partnership development, investor relationship-building, Team building
2020
Reckoon user application development
Smart contract development
Q1,Q2 PR and Marketing IEO launch Marketing for retailer and consumers
Reckoon user teaser app launch GloWS Protocol, Blockchain
application development POS integration module
Q3,Q4 Team expansion. Onboarding of retailers securing consumer
2021
Development and integration of Analytics & payment module
Reckoon launch Development of AI/ML modules,
adding a visual search feature
Q1,Q2 partnerships with government bodies and consortium Marketing for retail and consumers in Asia and America
Development & Integration of AR/VR modules
Q3,Q4 Marketing for retail and consumers in rest of the world
2022
Integration of charity/donation module supporting UN’s
sustainable development goals
Q1,Q2 regional based expansion
Additional feature integration Developer API
Q3,Q4 Local Reckoon events across the globe service expansion
2023
Advance features, research, further development
Onwards Expansion & Growth
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Team
Priya Vrat Misra Founder, CEO
Technology evangelist with deep passion for innovation and over twenty years of strong experience in technology solutions and digitalisation. He has been actively engaged in advising and consulting UK Finance/Fintech industry, retail banking including Lloyds Bank, TSB, and Nationwide from more than a decade. PriyaVrat holds a bachelor’s degree in Mathematics and a Master’s in Business Management. He likes simplifying solutions for complex problems. He is known for his creative and strong visionary skills who brings energy, reason, and leadership to all aspects of his engagements.
Nili Misra
Co-Founder Data, Strategy &
Operations
Rishipalsingh Chauhan
Head of Finance, R&D
Nili is an eighteen plus years veteran in the data and technology and known for strategizing true business value of data. She is an ex IBMer, as well as provided thought leadership in a humanitarian sector for data collaborations for UN’s sustainable development goals. She has been a member of senior leadership team and has been responsible for Strategy, Governance and Analytics. Her strength is identifying opportunities for innovation and continuous improvement. She has been a public speaker in European and international summits. Addition to her computer engineering background, Nili has undertaken Blockchain strategy program from Oxford Said Business School.
Rishipal`singh is an entrepreneur and has an extensive background in Business & Project Development, Finance & Investment Management and Technology Consulting in IT & Energy sector. He is the founder and CEO of SaveGeo Energy and has eighteen plus years of diverse experience in multifarious portfolios in the IT, renewable and conventional energy sector. He was profoundly serving in sr. consulting roles with prestigious organizations such as Infosys Technologies and HCL Perot. Rishi holds Bachelor in Electronic Engineering and Master’s degree in Automation & Robotics Engineering.
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Paul Soanes
Retail Industry Advisor
Paul co-founded one of the UK's first experiential marketing agencies, iD (www.idagency.com) in 1994. iD is a multi-award winning agency whose enduring success has been driven by its ability to continually innovate and lead experiential communications in the UK. In 2003, he co-founded Brandspace (www.brandspace.com) which revolutionized the way brands accessed & bought media in major destinations such as airports and malls. Brandspace was sold to a private equity backed group in 2008.
Simon Wajcenberg
Advisor
Simon is an entrepreneur with a stellar track record in founding pioneering global digital businesses. Simon has founded and built build numerous successful businesses including Stocknet.co.uk, Freequotes.co.uk, TMN Plc, which was listed on AIM in 2000 and has a market capitalization in excess of £100M and StrikeAd. Simon has launched K1T Capital, POWtoken.com and most recently North Block Capital an asset manager investing in Blockchain and crypto assets. Simon has extensive international board-level expertise, vast experience in M&A and was a winner in the finals of the Ernst & Young Entrepreneur of the Year awards.
Charlie Faulkner
Advisor
Charlie is a fifteen-year ad tech veteran with deep experience in the European and Silicon Valley tech ecosystem. Before founding North Block Capital, Charlie was responsible for leading global Business Development for Manage.com, he grew their revenue from $0 - $100M before being acquired by a private equity firm. Charlie acts as a Board Advisor for several technology start-ups.
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DISCLAIMER AND RISKS DECLARATION Potential token holders are advised that we have written this white paper for reference purposes only, in
order to provide all the specific information about the platform and the team. The primary purpose of this
whitepaper is to provide potential token holders with pertinent information in order for them to
thoroughly analyze the project and make an informed decision. Prior to your participation in the IEO, we
strongly advocate a careful study of this whitepaper but also the contract in relation to the purchase of
ROOK Tokens. Potential token holders may even engage the services of appropriate experts to help them
with investment analysis.
Certain statements, estimates and financial information featured in this whitepaper are forward-looking
statements that are based on and take into consideration certain known and unknown contingencies and
risks which in eventuality may cause the estimated results or may differ factually and substantially from
the featured estimates or results extrapolated or expressed in such forward-looking statements herewith.
This whitepaper is not meant to invite potential token holders to invest in a Reckoon team or platform,
and is entirely independent of such investments. The Reckoon team makes no representations or
warranties of any kind with respect to this whitepaper, and assumes no liability for them. For example,
the Reckoon team does not guarantee, in addition, the scope of the liability exemption is not limited to
the example below:
o whether the whitepaper is based on legitimate rights and does not infringe third party rights;
o whether the whitepaper is commercially valuable or useful; o whether the whitepaper is appropriate for your particular purpose; o whether there is an error in the content of the whitepaper; o market collapse due to market conditions since token issue; o project discontinuance due to government regulation;
Any potential token holder purchasing ROOK token acknowledges the technological and economic
uncertainty of the project presented in this whitepaper. Therefore, purchasers are aware of the absence
of any legal action against the company in case of failure, nonperformance or non-implementation of the
project, as well as in the case of the ROOK token losing part or even the totality of its value. The purchase
of ROOK tokens confers the ability to use the coming reckoon.com platform services. No other rights are
transferred upon the IEO. Precisely, the company’s only obligation is to distribute the ROOK token under
the conditions defined in the whitepaper.
During the IEO period, the company may not be held liable for any of the following:
o Use of the service that is not compliant with the applicable terms; o An error, malfunction, malicious action or violation of whitepaper’s terms by the user, a
third party or a service controlled by a third party; o All direct or indirect damage that may occur during the operation: cryptocurrency losses,
profits or financial losses or other damages whatsoever in the type;
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o The loss of control, any reason (loss, hacking, unwanted disclosure or technical failure), of the users’ login credentials which would lead a fraudulent use of the tokens;
o The temporary or permanent suspension of the service, whatever the cause, and especially due to a request from the public authorities, judicial authority or any third party;
o Computer failure resulting in loss of data, including content in case of impact; o The professional activity of users; o Lack of compatibility between the service specificity and the customers' requirements; o Generally, all damage whose cause does not depend on the company: Internet network
outage, failure specific to the user’s equipment, etc.
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