Blockchain applications in loyalty programs
Use case 1. Simple program management
With a multitude of loyalty programs, each having an individual token as loyalty points, it becomes hard for companies to track transactions in different currencies across those.
Provide a single, encrypted and secure, token for all programs to seamlessly track its usage across multiple programs and allow customers to flexibly use it when switching between programs.
Use case 2. Secure transactions
Traditional transactions within loyalty programs are slow and highly insecure; as a result, millennials are most unwilling to join those for transaction fraud and even fund theft concerns.
Ensure fast and safe program-to-customer rewards, with smart contracts initiating payments, instant and self-inclusive, and low chances of fraud due to provided cryptographic encryption.
Use case 3. Improved data visibility
33% of millennials dislike loyalty programs for the pile of related cards to carry; for companies, in turn, tracking all data from multiple programs with different tokens, dispersed across fragmented databases, becomes quite a challenge.
Store data, like point usage and customer behavior, from all your loyalty programs in a single, blockchain ledger; distributed among trusted users, it is protected against tampering.