Major Brands Are Now Using Blockchain Tech for Customer Loyalty

Customer loyalty is one of the cornerstones for every successful business, which is why it is no surprise that many businesses offer club memberships, frequent customer rewards and many other loyalty program incentives to their customers. However, the massive multitude of clubs and programs can be frustrating for customers to navigate, as they try to…

Blockchain Tech

Customer loyalty is one of the cornerstones for every successful business, which is why it is no surprise that many businesses offer club memberships, frequent customer rewards and many other loyalty program incentives to their customers. However, the massive multitude of clubs and programs can be frustrating for customers to navigate, as they try to maneuver between the numerous club cards in their wallets and online, often finding it difficult to keep track of their point status and where they can be redeemed.

While cryptocurrencies made a splash in recent years, making headlines and causing general public interest, it is the underlying blockchain tech that is proving to be the real game-changer. The ability to transfer and verify information on a decentralized network opens up many possibilities across multiple industries and could become the new standard in many ways – including customer loyalty.

Using blockchain tech for loyalty programs is already showing great promise as several of the world’s biggest brands have already converted some or all of their programs using the technology. The ability to manage a large customer base while maintaining perfect tracking of each client’s token count, without the need for a central governing entity, is a major step up in this industry, which sees $360 billion in points go unredeemed each year. From airlines to small restaurants, it seems that any business can harness the new technology to benefit customers as well as themselves.

 

Major Brands Are Making the Move to Blockchain

On top of the decentralization and easy tracking, another main advantage of blockchain is the ability to exchange and redeem tokens of values, such as frequent flyer miles or phone minutes. While this ability is widely in use on cryptocurrency platforms such as Ripple and Stellar, it is also being used in other industries.

One such example is Singapore Airlines. Considered the best airline in the world, Singapore is also a pioneer in using blockchain for its business, introducing a loyalty program built on the technology. The advantages of Singapore Airlines’ loyalty program are twofold: Using blockchain to track each customer’s account status to accurately reward them with miles, and enabling clients to redeem them with other service providers that are partnered with the airline. Launched last July, if the loyalty program takes off, it could become the yardstick by which all other airline clubs are measured.

Naturally, blockchain-based loyalty programs are not limited to airlines. Car rental giant E-Z Rent-A-Car has also created a similar program, which includes features such as payment with cryptocurrencies and even redeeming points for crypto assets within the company’s app. Japanese technology giant Rakuten, HP, and many other companies are also in the process of creating blockchain loyalty programs.

 

Bringing Blockchain Technology to SMBs

But what about the little guy? Many small and medium businesses (SMBs) don’t have the resources to develop their own blockchain networks, but would still benefit from the advantages it has to offer. For that reason, several companies have begun offering services which take care of the infrastructure and enable these businesses to build blockchain-based loyalty programs of their own.

 

The Building Blocks of Brand Loyalty

As blockchain solutions become more widespread, it is safe to assume that a growing number of brands will implement blockchain into their loyalty programs. Larger brands will most-likely build their own blockchain, or use the services of companies such as IBM, which is already offering an API for creating loyalty programs.

As a growing number of businesses are looking into blockchain tech, it seems that these solutions could prove to be the holy grail of customer loyalty.

Featured Image: DepositPhotos/ sdecoret

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Bitcoin and Blockchain: Banks Must Embrace or “Bite the Dust”

With all the constant news about the price of Bitcoin, it’s possible to forget what it was invented for. Cryptocurrency trading plays only a small role in what Bitcoin and blockchain technology can do for our world. Most importantly, they can end the hegemony central banks have on the way we make payments to each…

Bitcoin and Blockchain

With all the constant news about the price of Bitcoin, it’s possible to forget what it was invented for. Cryptocurrency trading plays only a small role in what Bitcoin and blockchain technology can do for our world. Most importantly, they can end the hegemony central banks have on the way we make payments to each other.

Today, there are supposedly thousands of cryptocurrencies available. Many of which seeks to fix the issues central banks have created. However, they don’t all have the same goals. While some may wish to obliterate our current banking system, others simply …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

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A Guide to Understanding Cryptocurrency White Papers

Anyone looking to invest in bitcoin or any other form of cryptocurrency has surely spent some time researching and reading about it. Entering the crypto world without any knowledge would be a crazy and reckless thing to do, especially if you are planning to invest money into it. While blogs, forums, and the many available…

Cryptocurrency White Papers

Anyone looking to invest in bitcoin or any other form of cryptocurrency has surely spent some time researching and reading about it. Entering the crypto world without any knowledge would be a crazy and reckless thing to do, especially if you are planning to invest money into it. While blogs, forums, and the many available cryptocurrency websites put no limit to the amount of information available for anyone looking for help, there is no denying that the best way to understand a cryptocurrency would be to read its white paper. A white paper is like a blueprint to …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

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Where Does Blockchain Stand in the International Remittance Market?

Data shows that the international remittance market is huge. In 2016, migrants living in different parts of the world transferred more than $570 billion USD to their home countries. Even though several FinTech overseas money transfer companies have made their presence felt in recent times, the field is still dominated by three of the original players…

International Remittance Market

Data shows that the international remittance market is huge. In 2016, migrants living in different parts of the world transferred more than $570 billion USD to their home countries. Even though several FinTech overseas money transfer companies have made their presence felt in recent times, the field is still dominated by three of the original players – MoneyGram, Western Union, and Ria. Between them, they account for around 25 percent of the total market share.

What Has FinTech Done?

Unlike the scenario a couple of decades ago, individuals no longer have to rely on banks or …

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How to Lose Money Quickly Crypto Day Trading

Over the past few years the idea of becoming a ‘crypto day trader’ has gained in popularity. There are countless YouTube videos all claiming to teach viewers the “real secret” to the high-flying, trading lifestyle. How you can spend an hour or two in front of your laptop every day and pocket upwards of $500…

Crypto Day Trading

Over the past few years the idea of becoming a ‘crypto day trader’ has gained in popularity.

There are countless YouTube videos all claiming to teach viewers the “real secret” to the high-flying, trading lifestyle. How you can spend an hour or two in front of your laptop every day and pocket upwards of $500 in profit on a daily basis.

Before we look at the validity of such a claim, let us look at the facts.

Cryptocurrency is a tradable asset, and it shares a lot of its characteristics with traditional …

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World Crypto Con: Get Ready for WCC with Us!

Welcome to World Crypto Con! World Crypto Con, or WCC, is an opportunity for industry leaders to share their exciting new crypto and blockchain projects to the world. People who have an in-depth understanding of blockchain and cryptocurrencies, as well as those who are clueless, can learn something at WCC. Welcome to a new way to…

World Crypto Con

Welcome to World Crypto Con!

World Crypto Con, or WCC, is an opportunity for industry leaders to share their exciting new crypto and blockchain projects to the world.

People who have an in-depth understanding of blockchain and cryptocurrencies, as well as those who are clueless, can learn something at WCC.

Welcome to a new way to look at cryptocurrency.

World Crypto Con will be running from October 31st to November 2nd in wild Las Vegas, Nevada, at the Aria Hotel and Casino. With over 75 keynote speakers and more than …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

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3 Crypto-Friendly Countries in Europe – From the Alps to the Vltava River

Crypto-Friendly Countries in Europe: In recent months the crypto sector has seen numerous countries implement regulations and ban virtual currencies and ICOs. Despite this, the sector continues to grow and gain support. So, if the world is going to divide when it comes to cryptocurrency, which is what appears to be happening, it’s important that crypto-enthusiasts…

crypto-friendly countries in Europe

Crypto-Friendly Countries in Europe: In recent months the crypto sector has seen numerous countries implement regulations and ban virtual currencies and ICOs. Despite this, the sector continues to grow and gain support. So, if the world is going to divide when it comes to cryptocurrency, which is what appears to be happening, it’s important that crypto-enthusiasts know which countries welcome crypto with open arms or which don’t. 

In this article, we’re going to be looking at a few countries that are known for being crypto-friendly. But, there’s a twist. The countries mentioned will all be in …

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Top Ten Crypto Websites

The internet is full of crypto sites. The moment you type ‘crypto’ into any search engine, hundreds, if not thousands of crypto sites show up. We’re here to make your life a little easier and save you some time by putting together a top ten crypto websites list. Who wants to waste their time looking…

Top Ten Crypto Websites

The internet is full of crypto sites. The moment you type ‘crypto’ into any search engine, hundreds, if not thousands of crypto sites show up. We’re here to make your life a little easier and save you some time by putting together a top ten crypto websites list. Who wants to waste their time looking at a crypto blog or website that doesn’t give them up-to-date or relevant information? We certainly don’t!

We’ve done our research and found some of the best websites to get your fill of all things crypto. The sites offer the latest …

Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

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