Xpense is a decentralized global shopping and consumption scene alliance ecosystem. Xpense combines image recognition technology based on blockchain to store user consumption data and behavior data. Xpense is built by face recognition technology and big data AI algorithm. Globally unified consumer value assessment system and user smart consumer passports. Xpense – extracting value from individual consumption and consumer behavior. Xpense will start a revolution on offline consumer experience and attract more users returning to brick and mortar stores.
Mining through facial recognition The age of living off your face has come! Consumers can be rewarded tokens by scanning their faces at the offline stores which join Xpense platform program. Tokens can be converted into cash on third-party market or exchanged for all sorts of goods and services from the stores.
Making shopping full of fun Xpense itself or stores on the platform can launch various shopping tasks based on facial recognition. After the completion of these tasks, consumers will be rewarded with token. These game-like tasks will reshape the offline consumption experience and make shopping much more interesting.
KYC Capability Under traditional business model, offline stores are not able to obtain the background information of each new customer, so targeted selling can not be achieved. While stores joined Xpense are empowered with the KYC (Know Your Customer) capability, therefore they can easily acquire the consumption portrait and other information of every client who has visited their stores. This is essential for them to improve the Price per Customer and success rate of sales.
Helping stores win more customers Joining Xpense enables stores to access consumption portraits of the people nearby and push precise marketing information to them. This will tremendously improve stores’ ability to gain more customers because the people nearby are the most likely potential customers.
Design of Xpense consumption behavior data platform Through the use of blockchain technology, Xpense will record all consumption and behavioral data involved by initially recording data on the side chain or off the chain and finally writing data into the backbone of Xpense data management chain. This is to ensure its growth comes from the records of consumption and behavioral data and avoid alteration or falsification. In the future, with the blockchain distributed storage technology getting more mature, the backbone of Xpense data management chain will also be transferred or stored on blockchain distributed storage. For truly achieving decentralization, we have adopted the following technologies.
1.Blockchain based distributed ledger technology 2.Side- chain and cross-chain trading technology 3.DPOS consensus algorithm 4.Smart AI video recognition technology