Tech start up Rewards4EarthTM has launched a unique solution to the problem of how climate change, amongst other environmental challenges, can be addressed without upsetting the global economic system.
It’s a problem Stephen Mnuchin, US Secretary to the Treasury, highlighted earlier this month. By challenging teenage climate activist Greta Thunberg to get an economics qualification before being able to understand the economic impact of the changes she advocates, Mr. Mnuchin has demonstrated the gap in perspective between those who are advocating climate action and those in economic (and political) power.
The innovative technology uses blockchain-powered reward points, known as Erth™ Points. The difference between Rewards4Earth™ and most loyalty systems out there is that, once awarded, the points are 100% owned by the consumer. This means they’re not simply ‘assigned’ to the customer while sitting on the business’s balance sheet.
The premise is simple: enable a small proportion of every transaction in the world to be channelled into planet-saving charitable projects.
“Let’s look at the retail coffee industry here in Australia,” says Chris Bilborough, Rewards4Earth™ CEO and the man behind the vision.
“In 2020 the industry is predicted to make over $10bn in revenue. That’s just over $27.3 million in turnover every single day.
“The average price for a cup of coffee in Australia is $4.18.
“Now, imagine if just 1% - that’s just 4.2c – of that was paid by the coffee shop; half to the consumer and half to charity. It’s barely noticeable. But, if this is scaled up to every cup bought across Australia, that’s over $130,000 per day that could go to charities and organisations that are working to save the planet.
“And coffee’s just the start. Imagine when other retailers and businesses get involved. It could really make a big difference”
Using an app for both businesses and consumers, the system allows any business to reward its customers with a proportion of the sale value in Erth™ Points.
And there are several reasons why this is a good thing – for both businesses and consumers.
For a start, the consumer sees a real benefit to buying from a participating business over a competitor – for both charitable and personal reward reasons. As well as the increased revenue, businesses also may enjoy a tax benefit, as the Erth™ Points are gifted only at the point of sale. Other benefits include real-time location-based marketing through the app, as well as directory listing and search functionality.
Erth™ Points are securely transferred in app to the digital wallet of the customers and directly into the Rewards4Earth Foundation, an independent charity that has responsibility for selling them on the open market. Once sold, the Foundation then directs the funds raised to approved charities and organisations that are committed to solving issues like clean energy and reforestation – both of which may help reverse climate change. “By incentivising both businesses and consumers,” continues Chris Bilborough, “the system creates a continuous, manageable funding source. By integrating into our daily commercial routines, we stimulate local, national and international economies while increasing sustainability and helping organisations meet their CSR obligations.”
Phase 1 of the app is launched, with further iterations being processed. The business has a crowd-funding program in place raising funds for the next stages of development and preparation for full launch https://igg.me/at/rewards4earth/x/22795545#/.
For more information contact [email protected]
Visit our website www.rewards4earth.com
We want to help save the planet using customer loyalty Erth™ points, where a small part of every transaction helps save the planet. Customers earn Erth™ points, Businesses save on marketing costs and the Planet receives a small percentage from every transaction.
Our mission is to have every Customer and every Business in the world be part of the movement to help repair and rejuvenate the Planet.
We are the next generation loyalty program. We are Rewards4Earth™.