Coupon System

The project addresses several key issues in traditional discount coupon systems:

1. Fraud Prevention: By utilizing blockchain and smart contracts, the system significantly reduces the risk of fraud associated with counterfeit or duplicated coupons.

2. Enhanced Security: Traditional coupon systems are susceptible to various security breaches. Moving to a Web3 environment improves the security of the discount mechanism, protecting both the users and the brand from potential vulnerabilities.

3. Transparent and Immutable Transactions: Leveraging blockchain technology ensures transparency in transactions and the immutability of the coupon data. This transparency builds trust between users and the brand, as every transaction can be verified on the blockchain.

4. Token Recycling for Sustainability: The ability for users to resend expired tokens back to the admin creates a sustainable model. This not only reduces the environmental impact of creating and distributing physical coupons but also fosters a closed-loop ecosystem where tokens are continually circulated.

5. Ecosystem Loyalty: The exchange of expired tokens for a new token usable exclusively within the ecosystem promotes user loyalty. It encourages users to stay engaged with the brand and the ecosystem, fostering a long-term relationship.

Links

• https://github.com/gauravchandrakar25/coupon-system-backend

While writting the smart contract a big challenge was to handle expiry time of each token, I gave it a shot and thought on how to implement it and later I created a mapping of expiration time on the smart contract.