Denver, Colorado – Balehu, a leader in local advertising, is excited to announce the launch of their ICO. The local commerce platform seeks to reinvent grassroots advertising and loyalty rewards from the ground up. CEO Mike Berson launched the company in 2015 with the goal of empowering local businesses to attract and engage local consumers.
The all-in-one platform optimizes local search, enables merchants to post content directly to social, and provides customer insight through actionable intelligence. The 31-year-old CEO has already grown the company to several hundred clients, but the next phase promises to be even more exciting: injecting Balehu with a blockchain-based token system designed to reward the local merchant and consumer community.
Local businesses will always be at the heart of any community. However, these companies are struggling to be seen and heard with currently available tools. Since we believe in the value of local business, our strategy and platform are designed to reward both merchants and customers who engage with each other in their own neighborhoods. The Balehu reward engine utilizes decentralized blockchain technology to infuse local commerce with value.
The cryptocurrency token, named BalehuBucks (BUX), is a novel approach to combining loyalty rewards and a local advertising platform. Millennials, aka the largest generation in U.S. history (92 million), have expressed a desire for loyalty rewards programs. Nearly all (96%) of millennials currently participate in at least one restaurant rewards program. However, rewards programs that aren’t based on blockchain technology are essentially meaningless since the points are unable to be exchanged.
BalehuBucks, an ERC-20 compliant token built within the smart-contract network ethereum, are exchangeable and have a finite supply. Therefore, Balehu tokens represent true digital value in a way that’s never been seen in the loyalty industry. Like bitcoin or ethereum, Balehubucks are based on a distributed ledger protocol called blockchain, which ensures security, transparency, as well as privacy at the individual level. Balehu Merchants are streamlined with targeted advertising opportunities with their local customer base, a loyalty incentive system based on real value, and an analytical engine providing key insights to further target their advertising efforts.
The advertising market for local business is currently dominated by ineffective platforms including Yelp, Facebook and antiquated mediums like the Yellow Pages. Decentralizing this industry will shift the balance of power from mega-corporations back to local businesses and advertisers, where the real value is being created. Balehu’s token pre-sale starts on December 1st with the full ICO launch scheduled for February 1st of next year.