Welcome to the future of reward points. Welcome, to Shrew.
As I’m writing this first post on our brand new website, I’m filled with a sense of excitement and a surge of enthusiasm. In over a decade of working for the corporate sector, I’ve never felt so sure that we are about to disrupt an entire industry with what we have planned. Before I introduce the project, I’d like to briefly introduce myself.
I’m Arfy Shah, the founder and CEO of Shrew. I’ve worked in the IT and financial services industry for over a decade for some of largest organisations in the world such as, The Bank of New York Mellon (largest custody bank in the world with $2 trillion in assets under management), PwC (PricewaterhouseCoopers, 2nd largest professional services firm in the world) and Capgemini (multi-national technology consultancy). Around 7 years ago I started researching blockchain, cryptocurrencies and the Ethereum ecosystem.
I knew then, as I do now, that this ground-breaking technology will have an impact on all of our lives. Throughout the past few years I’ve thought about the different applications that can stem from the advancement of blockchain technology and from all the ideas that have come to light, the shopping industry is one that always stuck out. So what is the big idea?
Currently, the shopping rewards industry is restrictive and ironically un-rewarding. When shopping at a superstore you are constantly sifting through a mountain of plastic cards, only to realise you’ve left it at home. When you do accumulate points you find that you can only spend them in a particular store and most of the time it doesn’t have the item you really wanted. From the customers point of view, Shrew.com is a game changer.
Imagine having a single token to represent a reward point called SHREW (SHREW is also an acronym for SHopping REWards as well as a cute mammal) no matter where you shop. A single app to accumulate, store and spend your points at your favourite stores, opening up the opportunities to earn SHREW as well as giving you more choice when spending them. There are other exciting advancements that we have planned but we’ll get to these later in subsequent in-depth posts.
From the perspective of the institutions who will be paying out and accepting SHREW, there are a number of benefits that arise when joining the Shrew ecosystem. Customers would find it more appealing to shop in stores that pay-out SHREW which can be spent at more than one store as oppose to one that restricts them. The convenience of a single app to earn and spend points at multiple stores means customers will become accustomed to such convenience and would become uninterested in traditional reward point scheme. Furthermore, stores that do not currently have a rewards scheme face high barriers to entry with regards to technology, administrative overheads and fees. Joining the Shrew ecosystem will do away with most of these barriers and allow smaller businesses to thrive by joining the ecosystem.
I hope you enjoyed the brief introduction to Shrew.com, there is a lot more to share with you in the coming months. Do visit our website and reach out with any questions you may have.
Shrew.com Founder and CEO.