HOW IT WORKS.
Provenance’s vision is to become the e-commerce platform for sustainable brands based on a solid software service offering. Provenance will leverage its network of sustainable brands and retailers to become a community-driven commerce platform for consumers.
Today the solution adds value for brands and retailers, by reducing time, risk, and growing market share for more sustainable products. The next step is to create a valuable network with SEO and distribution beneﬁts for all brand and retail members. Going forward Provenance will offer a platform and impact token system – uniting brands and citizens, incentivizing change in every purchase.
THE VALUE ADD.
To brands and retailers, Provenance delivers transparency at the Point-of-Sale (PoS), increases conversion rates and alters brand value, by publishing Proof Points across retailer e-commerce sites, developing a ‘Cult Conscious’ edit and generating credible impact content across go-to-market channels. This led to incredible results for a beauty e-commerce site: 27% increase in add-to-cart among shoppers who clicked on a Proof Point, 2.7x increase in time on site, 5% increase in brand sentiment post-purchase, and 25% increase in social media engagement with 1 million impressions per month.
The technology is open-source and based on the Ethereum protocol, making all sustainability claims and product information transparent and accessible to customers and retailers. Using a combination of IPFS (InterPlanetary File System) and Ethereum, all Proof Points are transparent, visible and auditable for every outside party.
Furthermore, crypto enables new forms of value to be tokenized because of its powerful incentive system for users to build and grow the ecosystem by rewarding citizens for choosing sustainable products