Software, Blockchain, startup

Figuring out the roadmap

Hey guys I'm glad you've decided to follow me along for this ride. Usually I start with developing the product but nowadays you can find developers anywhere. My goal is to be the CEO so this time i've decide to build a vision and developers will come, hopefully. I find it interesting how startups come to be, as you know it seems to be all about convincing someone this entity should exist. But, everytime I do research or explain my idea I think what this is stupid, then I think it's genius why hasn't any built this already and those become reasons why I should continue. I want to get to the point where there is no question why Repit should exist. I feel I'm missing that simple line with a complex backing like. Google: Better search for the web, or Facebook: your relationships online etc. Maybe Repit: What you do automated.

Yea you like it? you know because like when you pay for stuff you consume services and products and we automate the proof that you did it. blah blah nevermind. One liner TBA.

Well i wrote a list of things I need to do so here it is. Honestly I like telling everyone what im doing its hard to be secretive sometimes. 

 

Off The Ground Plan

Possible time line w/o funding 6 mo

w/ funding 3 mo

7/1/2018

Brandon Rice


 

  1. Build visuals of my vision for the company.
  2. Create landing page [ collect emails ]
  3. Create pitch slide deck
  4. Create elevator pitch
  5. Develop key points of repits Model and modes of success
  6. Hire writers to produce and release 3 articles about:
  7. What is Repit
  8. What we want to be
  9. Who we want to effect
  10. Who is the team
  11. Why we are building repit
  12. Why Repit is needed
  13. Create Social media accounts with terms so to communicate with community
  14. Put together an email pitch to gauge companies interest in Repit’s Solution
  15. Find a teammate (economist, developer, cool person)
  16. Draft cases in which repit would be useful
  17. Create timeline for saas implementation and summaries of AI, Data analytics, Query, Front facing Applications etc.
  18. Talk to legal teams about legality
  19. Produce documentation for sales team.
  20. Develop SOFTWARE.

 

Supporting list:

  • Hire Designer
  • Hire Blockchain developer
  • Hire Backend developer, frontend
  • Hire a few writers
  • Consult Economist
  • Consult a Salesman (B2B)
  • Build email list

 

As Always More to come

Blockchain, Software, startup

Power to the Consumer

Repit is a network of source nodes that distribute well formatted raw receipt data to collector nodes. The collectors then utilize this information to positively aide their business. Similar to a data brokerage we source public data and sell it. However, among many differences in model the one we focus on today is “Opt-in over Opt-out”.

 

Opt-in over Opt-out

I find that in both cases the consumer benefits as well as the business. However, what happens when the business reach peak effectiveness when using the data they have collected and it doesn’t yield a favorable result? The business has lost money and a number of consumers have missed out. We believe that if given the ability assign value to receipt data consumers are willing to boost the value of the data in efforts to receive a greater incentive. As opposed to the current status quo " we throw away receipts ".

“before a company can collect or use data, then a company may provide incentives to users to opt in to sharing their data. Naturally, the company will not offer to pay more than what the data is worth to it. Individuals who value their data more than the company will not accept this offer, but individuals who value their data less than the company would. Alternatively, if the law requires individuals to have the ability to opt out, then a company may provide incentives for users to not opt out to sharing their data. Again, only users who value their data less than the company would accept this offer.”
itif.org

These days business must earn and grow consumer trust. By being transparent with data usage its show that consumers don’t mind providing there personal data as long as they believe they will gain a better product. And business won't buy data unless they value and can utilize it. By providing a market place in which consumers become the sellers and business/marketers become the buyers. Economics concepts can be applied to the success of acquisition and distribution of consumer data in order to facilitate transactions efficiently.

 

Quality over Quantity

Where offering info direct from POS systems that is validated by the consumer

Read this

 

Our solution:

The Repit Consumer Platform (RCP):

As repit is an autonomous network an entity cannot control the flow or format of the data. In order to access this data an entity must be apart of the repit network and must go through specific channels to receive the data they want.

When receipt data is collected from the POS system it is then formatted and signed using the consumers personal data this signature is then appended to the data. This infrastructure ensures that the consumer is the only one who can authenticate there receipts. In other words Repit stores all receipt data moving through the network and only the owner can compile and categorize it. Of Course this would be a problem from a business standpoint. Marketers want tagged data (profile -> raw data) and with this infrastructure it is not possible.

But then we thought what if we provided a marketplace where consumers sell their data. We can collect a tax from the transaction. That way marketers get access to data connected to a profile and Repit does not close off the revenue stream.

 

 

Feed vs. Packet:

 

As a developer I’d like to build data driven applications for myself. I’ve found that I cannot and will not keep a timestamped descriptive list of the things I do all day. I have even considered building a pee sensor for my toilet that tells me my (ph, amount, color etc) because urination patterns are a good sign of health. Now imagine if you had a sensor for spending But not just amount but cost, what you bought and what quantity etc. and an application could calculate and give me analytics, suggestions etc on my consumer habits. In this case the feed would be the best choice, consumers could provide real time data to applications with specific permissions to third party applications. Imagine providing your feed to google they could tell you the best route to save gas and time to collect all items on your grocery list at the best prices.

The Packet is more of a collection of data mapped to your profile that you give to marketers. In the near future Repit would collect data from half of all business. Marketers could then create reactive Ads. Think about it, we have a collection of products and there prices we have the consumers buying preferences (price locations, quantity, etc). And Marketers have a list of merchandise they would like to sell. Is it so crazy that a machine learning model could take this data and make a maps and calculations. And spit out a auto generated ad with 100% conversion due to specific consumer targeted ads? Maybe in the future Repit could create an Ad platform also ;-).

In conclusion:

By allowing users to control their data Repit could create revenue by taxing the transaction of data from consumer to marketer. After creating the RCP and adding a market place. The need for an autonomous ad platform becomes possible. Just like facebook profits from mapping user relationships Repit profits from mapping consumer and Business relationships rather they be B2B or B2C.

 

And as always More to come!

startup, Software, Blockchain

The Power of the Receipt!

Q: Who cares about receipts?

A: Everyone but the consumer.

Q: But why do they Care?

A:

I think most will be surprised when they see whats on a receipt. I mean I was when I first set out on this venture. 

 From  Snipp

From Snipp

I know Its pretty crazy. But why has no one created a company like Repit before now? It would be very expensive let me break it down.

First, form a legal agreement with a business to allow for the collection of the data from every POS system. A quick figure if there are 80 businesses in a shopping mall and each has on average 2 POS systems. And to form an agreement with a business is 10,000 in legal fees, $500 for each POS installation. that comes out to (($500 * 2) + 10,000) * 80 = $880,000 before any profit is made. And then there is no incentive for the Business to give this data other than you paying for it.

By making this system autonomous on the blockchain. The agreement is the cost of gas, and installation is now as easy as a software upgrade. Furthermore, a business in this era needs to access their receipt data. Repit just provides this as a service.

So now that we know whats on a receipt, Why it is useful?

From Snipp

The Where, The Who, The What, and Amt - For How much, Then When, The How. How much more can you ask for? And because receipts are so centralized and paper. It's hard to integrate them with third-party applications. Repit looks to solve this problem. 

During my research, I found that Credit card companies don't have the itemized receipt they only know the where and the who and how much. With that, they are able to create huge databases that provide business and marketers with loads of useful data. see for yourself here.

Wrap Up:

Receipt data is valuable and we only need to provide the right incentive to obtain this data. 

 

More to come

 

 

startup, Software, Blockchain

Where is the value?

The Business

I plan to attract business by offering a real-time data terminal as Repit's MVP. By providing a feed of raw receipt data from the companies POS systems. That company is then able to access a well formatted and useful display of data using a subscription-based model for monetization. The problem with big data is that its useless without Big data analytics tools and a substantial computer to query, calculate and display the data. Using a distributed system (blockchain) computing power is not a problem. And using The Repit Terminal provides basic big Data analytics. By providing Business with the Repit Terminal Backed By the RDDN (Repit Digital Data Network), we enable them to make agile business decisions and see the effect in real-time. 

Many businesses have to collect, format and analysis their data in-house but by using Repit they are able to forgo the cost of building and maintaining such a system.

The Consumer

The other side of Repit is for Consumers. We format and distribute consumer receipt data for free. Many companies have switched to e-receipts but that does nothing for the consumer. Consumers need a receipt platform that can aggregate raw receipt data. This would allow consumers to perform performance analytics on the purchases. Imagine knowing how much money you have spent on bananas in your entire life and be able to create data backed grocery list. You would be able to track your own preferences and provide this data to third party applications so that they serve you better.

Marketers want consumer data for performance analytics. Marketers need this data in order to evaluate what campaigns and strategies work on a targeted group of consumers. By providing a marketplace in which consumers have control over there data. marketers could simply pay consumers for access to their personal data feed.

I know what your thinking what about privacy?

Well, Receipt data is considered public data. We simply don't store the consumers information instead we hash it with the location of the raw data and store it on the blockchain this ensures that only the consumer is able to locate their specific data and business access to the pool of raw data. In other words, only the consumer knows what the data looks like and is able to pick it from the crowd.

This model is contrary to current data brokerage models where the consumer can opt out. We believe by allowing consumers to opt-in and also use data tools we create a better consumer experience database.

 Buisness access all receipt data but Only consumer can tag it as there own. 

Buisness access all receipt data but Only consumer can tag it as there own. 

Wrap Up:

We create a network of business that upload receipt data.

We format and store the data while mapping to the individual consumer.

Create a Terminal to analyze raw data. (pay to play)

Provide free consumer platform for storing and analyzing personal receipt data.

          Append marketplace where Marketers can request and pay consumers for access to            profile and raw data feed. ( repit takes a cut )

build other SaaS products as the network grows.

More to come!

 

startup, Blockchain, Software

New Logo

So my design friend Judiee pointed out that my previous logo was hard to dissect. " what is it? a note, a letter? Looking at this I don't know what your company is" It was supposed to be a receipt. LOL

old_to_new_logo.png

I've been conducting a lot of research in order to produce a vision for the company. I've decided Repit is an autonomous distribution network, In that companies, join the network by providing a feed of receipt data and then pay to access receipt data of other members. By creating this network I'd be able to build holistic autonomous Marketing, Business Analytics, Big Data and AI tools for business.

This decision transforms the company from a collector of raw data with a front end to an information highway with many profitable revenue streams. And so the new logo was born.

 

It's a PINE CONE

The Repit logo depicts a clean modern pinecone. Pinecones are the reproductive organs of many species of tree, they hold and transport seeds from tree to an open field. Upon completion of their journey, they lay baking in the hot sun until they spring open scattering seeds unto a new uninhabited area. Like the pinecone Repit is a means of distributing data from end to end in a secure way.

More to come.

 

repit_logo_v2.png

Software, Blockchain, startup

RepIt

HUH?

So I recently participated in a 3 day long blockchain hackathon where you Pitch; Form a team; Build a Startup and compete for prizes. Zac, Jacob and I ended up getting an honorable mention. It was a FUN experience. 

CONTINUEING

Long story short If the idea was able to get an honorable mention from that panel of judges I think Its worth building. and I've decided to document the process for the world to see.

SO WHAT IS IT?

Quite simply the idea is " Receipts on the blockchain ". Reason why is because Proof of Purchase must be Immutable and transparent. Blockchain technology allows this in its design so why not? I see this as a fundamental Database of receipts. If I can prove 'proof of purchase' I can then verify Amazon reviews; verify Gun purchases; Provide better CPI data for Inflation calculations; Create a free market etc.

OUR PRESENTATION:

I really Excited to get started I be using Ethereum smart contracts and IPFS to get the backend going so lets see what happens.

 

  • Blockchain aggregating consumer transactions

    • Solves:

      • Receipt Fraud ( 30-day returns, Blocking Credit cards, etc)

      • Costly Audits

      • Data Accessibility

    • Collected with:

      • Facial scanners (AmazonGo)

      • Bluetooth location (ibeacon tech)

      • POS transaction data (Square Integration)

    • How:

      • Proof of Location (IsConsumerHere)

      • Proof of Session (IsGoodsExchanged)

      • Proof of Purchase ( IsReceiptGenerated)