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What is Descount?

  • Last edit:
  • Author: Coinranking
  • Reading time: 8 minutes

Descount is a crypto project aiming to provide real-time discounts to shoppers by either letting shoppers pay in DESC, the cryptocurrency of the project, or letting shoppers holding the necessary amount of DESC during shopping, as shoppers do not have to signup to discount coupon/voucher code websites and apps and provide their personal details.

Descount will always remain free to join and maintain for Merchants, instead of registering discount coupon code/voucher websites or apps and paying numerous fees monthly or yearly.

Online shopping has increased by 15% globally due to Covid-19 and so did the discount coupon/voucher code advertising market. A lot of new e-commerce websites and apps popped up, the ones who were in the market got a lot bigger.

Researches show that the most of online shoppers do seek discount coupon/voucher codes before they purchase goods or services. When it comes to finding the discount codes, the first places are the discount coupon/voucher code websites.

Some of them do offer accurate codes which hasn't expired but some of them are full of expired vouchers or even fake ones. They do show possible discount rates and the companies offering it, but don't show the discount code without registration.

Here comes the most important part of it, you will have to provide your personal data to them. As we are in the Big Data age, this is very important for them to market your data and make money again.

Descount never collects personal data, well, it can not as it is a blockchain-based project thanks to blockchain and crypto technology. Descount never asks Merchants to register on a paid plan because the discount code is the cryptocurrency DESC.

How Discounts Will Be Provided?

Holding DESC in a wallet or paying with DESC. And for merchants side is adopting Descount project for free of charge anytime all time.

There are two scenarios as some countries do have regulations over cryptocurrencies to be used on traditional trades to buy or sell goods or services in crypto.

If there is a regulation in the country of residence of the shopper:

The shopper can easily purchase DESC from crypto exchanges or DEXes. When they go on to one of Descount merchant's websites, they will see a badge informing how much DESC they need in their wallet to qualify to get a discount.

After they put the goods or the services they would like into their shopping cart, they will be shown a button saying, " give me discount " on the checkout page.

A small window will pop up for them to put their public wallet address, once they hit the check button, an API call will be sent to theBlock Explorer and check the amount of DESC in their wallet.

If they have the minimum required amount in their account, the web page will issue the promised % off discount on the total price excluding any TAX. Then the shopper will process the payment on their card in FIAT currency.

If there is no regulation for cryptocurrency to be used to buy goods or services in the country of residence of the shopper:

Once the shopper is on Descount Merchant website or app, prices for the goods or the services will be shown both in Fiat and DESC, but the prices in DESC are already discounted rates.

The shopper will need to select to checkout in DESC. A payment page with Merchant's public wallet address will be shown to the shopper and the total amount in DESC to pay (a QR code will also be shown), shopper is asked to put her/his public wallet address which he/she will use to make the payment.

Once the payment in DESC is processed shopper clicks on the 'I Made the payment button', an API call is sent to Block Explorer to check if the merchant wallet address has received the funds from the shopper's address. If the payment is done, the shopping is processed successfully.

In both scenarios, the price of DESC to fiat will be locked for 5 minutes on the checkout page, if the time exceeds the shopper will be asked to refresh the page and continue.

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