FAQ

FAQ

What is Unify Rewards?

Unify Rewards is a loyalty program which will run at University of NSW (UNSW) from the 6th October 2017 until the 20th November 2017 (unless it is concluded earlier).

Unify Rewards is the first coalition blockchain loyalty program in the world allowing members to earn Ether digital currency.

By joining Unify Rewards, you are participating in a world first trial.

How can I join Unify Rewards?

UNSW students and staff can join Unify Rewards by:

Unify Rewards is strictly limited to the first 500 members who join. Only one account is permitted per individual.

How do I earn Unify Rewards Stamps?

It’s easy. Simply spend at any participating retailer and scan the stored barcode in the Unify Rewards App. The Unify Rewards stamps will automatically appear in your account.

Members can earn a maximum of 5 stamps per day. When a member has earned 10 stamps, they will automatically be converted into A$5 of Ether digital currency

What Is Ether?

Ether is a digital currency (or cryptocurrency) which is the main currency of the Ethereum network.

Ether can be bought and sold on multiple exchanges.

To find out more about Ether & Ethereum, click here (https://www.ethereum.org/ether)

Why does Unify Rewards provide members with Ether instead of Points?

Programs which reward members with Points often reduce the value of those Points over time in order to reduce their company costs. It is often the case that the more popular a loyalty program becomes, the worse the value a member receives.

Unify Rewards is the first coalition loyalty program of its kind which rewards members with Ether rather than Points. Ether is a digital currency used by developers who want to access to the ethereum blockchain to interact with smart contracts built in that language. Ether is traded on a number of digital currency exchanges and the price fluctuates with the demand for the currency. Like other digital currencies, Ether can be bought, sold, transferred, traded, gifted and sent electronically anywhere in the world to another person with a digital wallet address.In general, the more popular Ether becomes (via exchange purchases), the more the value increases (due to demand). Thus as a member of Unify Rewards it’s possible that you could earn $10 of Ether, and in several week’s time it could be worth more than that. Of course the reverse is also true; the demand for Ether may drop, or supply may increase, and the value will fall. We believe this is what makes digital currency so exciting as an alternative to points. We believe digital currency is the loyalty currency of the future, and Unify Rewards are leading the way.

How do I earn Ether?

As a member, when you have earned 10 Unify Rewards stamps, they will automatically be converted into A$5 of Ether digital currency, which will be credited to your account

How do I spend Ether?

Your Ether balance can be transferred into A$, where it can then be spent on gift cards or transferred to a bank account. Simply tap the Spend Ether button in the App and
follow the instructions. Please allow up to 72 hours for bank transactions. Post-trial you will also be able to transfer you Ether to your own Ether Wallet. Simply tap the Spend Ether button in the mobile-responsive website and follow the instructions. Post-trial you will also be able to cash out using apps like AliPay and WePay.

How do I transfer Ether to another member?

Your Ether balance can be transferred to another member of Unify Rewards. Simply tap the Transfer Ether button in the App and follow the instructions. Simply tap the Spend Ether button in the mobile-responsive website and follow the instructions. Post-trial you will also be able to cash out using apps like AliPay and WePay.

How do I transfer Ether to my Coinbase (or other) Wallet?

At the end of the trial, members who which to transfer their Ether to their own private wallet will be able to submit their wallet ID, and Unify Rewards will manually process the transaction.

When does Unify Rewards start & end?

Unify Rewards launches on the 6th October 2017. As it is a trial designed to understand the implications of using a digital currency as a reward instead of Points, Unify Rewards will finish on the 20th November 2017 (unless it is concluded earlier).