Bread tokens will unlock a long list of perks for users of the Bread platform. Token holders will enjoy discounts, sequential tiers of complementary or exclusive access to premium features, and full white glove service for our most elite customers.
Tokens can be earned through various promotions, such as giveaways, opt-in surveys, or even automatic airdrops for frequent users. Bread tokens exist on the Ethereum network as a standard ERC-20 token, which means access to these perks can be freely bought, sold, or transferred independent of the Bread platform.
Bread is embarking on a journey to become the world’s largest decentralized financial institution. Many of our team members have been involved in cryptocurrency since the early years, and have watched the rise of bitcoin, Ethereum, and other decentralized digital assets pave the way for a brand new type of financial infrastructure. These technologies make it possible for users to interact directly with their money, instead of relying on other businesses and entities which can be costly and limiting. We envision a future in which money is as fluid as information on the internet. Consumers are in control of their own finances, and rely on no one but themselves to keep their money safe. No longer can a hacker gain access to a single server and walk away with millions of credit card numbers. No longer do the livelihoods of millions of people rely on banks being able to manage their assets properly, weathering the risk of embezzlement and greedy investment practices.
Anything that currently can be done through a bank, credit card issuer, or payment processor will soon be doable with cryptocurrency, all on the user’s own device. With a basic smartphone, the average consumer will be able to receive their salary, pay their bills, take out a loan, invest in stocks and savings accounts, send money around the world, and make purchases online.
This is the future cryptocurrencies make possible. Bread will turn that future into a reality, by becoming the largest, decentralized financial institution in the world—all without holding customer funds or personal data.
So how does Bread make this possible? At the core of the Bread platform are our standard wallet capabilities, which have always been, and will always be, free. This allows our customers to receive, store, and send cryptocurrencies to anyone, anywhere in the world, at any time. Bread connects directly to cryptocurrency peer-to-peer networks, which means users don’t rely on us to access their money. If Bread’s corporate entity shuts down or if our servers are hacked, each user’s funds remain safe and protected in their own device. Outside of simply managing cryptocurrencies, Bread partners with third-party service providers around the globe to allow users to access a wide range of additional services through the Bread platform. It takes a lot of time and money to set up a local financial service and become legally compliant, and instead of tackling these endeavors directly, Bread seeks out quality services that already exist around the world.
Bread ensures that every service is operating legally and meets Bread’s high quality standards, and regardless of how the service operates outside of the Bread platform, we ensure the experience using the service through Bread is as user-friendly as possible. Simplicity and security are our top priorities. To create more value for our users, increase user growth, and support the development of Bread’s global financial platform, we are launching the first-ever loyalty rewards program offered by a cryptocurrency wallet.
The Bread Rewards program will be built around the Bread token, which users can utilize to unlock special perks and discounts in the Bread app. Users will be able to earn Bread tokens through various promotions which are designed to increase user adoption or otherwise offer value to Bread. For example, users could be rewarded for posting about Bread on social media, answering a simple user survey, or simply holding a certain amount of value in their Bread.
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ICO Senior Advisor and Expert | Blockchain Consultant | Crypto Investor and Analyst | Speaker and Writer Rated on Apr 7, 2019 Modified on Apr 7, 2019
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11%
Vision:
We are expecting more than a decentralized bank.
Product:
A decentralized bank in your hand. First cryptocurrency wallet to provide a loyalty and customer rewards program. In the competitive cryptocurrency wallet market. A clean design, attractive interface and a strong customer acquisition strategy with a good incentive program for token holders.
Viability:
Partner with a variety of financial services institutions to allow for the “buying and selling of Bitcoin, Bread simply partners with established third parties in different countries to facilitate the implementation
connecting the Bitcoin blockchain to mainstream users via an accessible mobile app and other complementary features to support a transition to decentralized banking. Although this is a strong structure, new technology can make the difference as the adoption is still at the early stage.
User value and experience :
Interactive, The Bread wallet is a free iOS or Android download and easy to set up. The simple user interface has options for sending and receiving Bitcoins. In the menu option, for certain countries, there is the ability to buy Bitcoin directly from the Bread app. BRD token holders will also get discounts on Bitcoin purchases and other transactions they make on the Bread wallet app.
Team/Management:
Strong team with great experience from famous big blockchain companies.
Deal Structure:
Integration to clarify. Security enhanced there is no registration or personal information collected during the setup process. This needs to be clarified during the coming months as mobile system are the hacker target and easy to crack. BRD cryptocurrency itself is an ERC20 token, which means it resides on the Ethereum blockchain with potential scalability, latency, low cost transaction, integration.
Community/Customer Acquisition Strategy:
First cryptocurrency wallet to provide a loyalty and customer rewards program. In the competitive cryptocurrency wallet market, Bread has acquired over 650,000 customers in over 150 countries. The next step is incentivizing people to stay inside the Bread ecosystem.
Software engineer and advisor Rated on Jan 18, 2018
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11%
Unlike many ICOs Bread already has a product - one that has been around since 2014 and is now the #2 Bitcoin wallet on iPhone.
The ICO is/was about raising funds to market the app and build the utility of the Bread app/platform. Bread is simply an easy to use mobile based wallet, which is going to handle multiple coins - BTC now, ETH/ERC20 soon. However the secret sauce is leveraging a large user base (over 1 million users now) to drive demand for Bread based access to ICOs, special deals - like discounts and rewards programs for Bread based purchases. This they believe will encourage people to buy Bread tokens vs. just buying things with BTC and ETH.
As of writing (post ICO) they are starting to roll out ETH and ERC20 support and begin marketing. I think there will be increased interest in Bread. Sure it will be one of the many players in this space but they have a strong existing user base and are already integrating with 3rd parties like Kraken for services (buying crypto). As service that doesn't actually hold users funds they are well placed to expand globally without many regulatory impediments, unlike centralized services like Coinbase.
I see Coinbase and others being relegated to service fiat gateways (or anchors as Stellar calls them) and no longer actually holding funds - which is completely as it should be.
The team is small (12?) but planning to grow, and the all have solid app development and some with experience from related companies like Kraken and Coinbase.
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