DIGITAL REEF, INC. (20240223700). DYNAMIC REWARDABLE ACTIVITY VALUE DETERMINATION AND ALLOCATION simplified abstract
DYNAMIC REWARDABLE ACTIVITY VALUE DETERMINATION AND ALLOCATION
Organization Name
Inventor(s)
Paul Kats of Los Angeles CA (US)
Jeffrey Chernick of Venice Beach CA (US)
Mark Randall Goldston of Beverly Hills CA (US)
Sohrab Pirayesh of Los Angeles CA (US)
DYNAMIC REWARDABLE ACTIVITY VALUE DETERMINATION AND ALLOCATION - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240223700 titled 'DYNAMIC REWARDABLE ACTIVITY VALUE DETERMINATION AND ALLOCATION
Simplified Explanation:
The patent application describes a platform where users are incentivized to perform activities by earning points that can be redeemed for rewards, including cryptocurrency. The rewards are determined based on various factors such as target average points payout and the type of activity.
- Users on the platform perform activities to earn points
- Points can be redeemed for rewards or converted to cryptocurrency
- Rewards are determined based on factors like average points payout and activity type
Key Features and Innovation:
- Sender Controlled Media (SCM) platform incentivizes users to perform activities
- Points earned can be redeemed for rewards or converted to cryptocurrency
- Rewards are determined based on platform context and activity type
Potential Applications:
- Loyalty programs for businesses
- Gamification of tasks and activities
- Incentivizing user engagement on social media platforms
Problems Solved:
- Encouraging user participation
- Providing tangible rewards for user engagement
- Enhancing user experience on platforms
Benefits:
- Increased user engagement
- Improved user retention
- Enhanced platform performance
Commercial Applications:
The technology can be utilized in various industries such as e-commerce, social media, and online gaming to incentivize user engagement and drive customer loyalty.
Questions about the Technology:
1. How does the platform ensure the security of user accounts and transactions? 2. What measures are in place to prevent fraudulent activities on the platform?
Original Abstract Submitted
a sender controlled media (scm) platform user is presented incentives for performing rewardable platform activities that result in accruing points in a user-specific account from which points can be redeemed by transfer or cryptocurrency conversion to an external user-designated wallet. a reward received for each instance of a rewardable platform activity is determined based on a range of platform context including a target average points payout, an aggregated total points payout over a distribution period, and a type of rewardable platform activity.
