The platform functions as a "Full Circle" economy where merchants onboard customers, who then circulate the currency through a network of affiliated local businesses. By utilizing blockchain technology, Ovato provides small-scale enterprises with infrastructure typically reserved for large corporations. Merchants can manage daily deals and track customer engagement, while users earn coins not just through purchases, but by sharing deals on social media and onboarding new participants to the platform.
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Bitovation Corp Launches Ovato Blockchain Rewards for Local Merchants
Palo Alto-based Bitovation Corp has launched the Ovato digital currency, a blockchain-based rewards ecosystem designed to bridge the gap between local merchants and modern consumer incentives. The platform aims to move beyond traditional loyalty points by offering shoppers a store of value that compounds through social promotion and active participation.
Bitovation Corp is positioning this ecosystem as a stabilizer for local communities facing competitive pressures from larger retail entities. To accelerate network growth, the company has introduced an influencer program limited to 10,000 members, allowing individuals to monetize their personal networks by recruiting new merchants and users. This strategy aims to replace fragmented, store-specific loyalty programs with a unified digital asset that gains value as the ecosystem expands.
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