Nowadays, most stores have their own sort of loyalty system, which rewards returning customers. Most systems use points, which can be accumulated and spent on a product. The problem Elements wishes to adress is the follwing: You need to spend high amounts on one store in order to be able to claim a reward. They want to solve this issue by introducing an universal reward coin.
Elements released the following video:
We recommend you have a look at their official website.
Why it won’t work
There is no need to talk about any key features or similar, as it is fairly obvious why this coin won’t be used.
Price & Hassle
As a store owner, why would you want to pay your customers using Elements instead of your own system? Your own system works just fine, makes sure your customers return and it doesn’t cost you a cent to give out points. However, mining Elements costs you because you need to buy a miner and pay its electricity. For a store, there is no real benefit to using Elements. In the video, they talk about customers having to spend a lot of money in order to receive rewards. If this were the case, making a cheap reward is much easier than implementing a cryptocurrency.
Just asking these questions should make you realize, that it makes zero sense to implement Elements.
What happens if a customer returns an item? Does he keep the Elements or do you have to make him send the Elements back?
Why would store A have to give the customer his “reward” if he bought it at store B?
Why not use a “normal” cryptocurrency?
If you give him a coin that’s worth money, why just not give him cash?
What if store A gives out 10 points per dollar spent but store B only 5?
Elements is just another generic cryptocurrency. In its current state, it’s absolutely unnecessary and will not be used by stores.