Scenario

  • Customer inactivity and redemption of the loyalty rewards is low, resulting in unclaimed rewards turning into liabilities for companies. Lack of a uniform system management for the Loyalty and rewards program drives further customer inactivity.
  • An inconsistent infrastructure, the requirement to protect the company’s proprietary information and customers PII make it more complex to build a uniform system

Key Features

  • Blockchain technology, being a trustless distributed ledger enable participants of the loyalty rewards program-providers, administrators and customers to interact on a single platform without intermediaries, retaining the PII and other important information protected.
  • The decentralized technology can interlink multiple networks on their own terms, interact with existing loyalty rewards platforms through smart contracts that automatically enforce the terms of agreements between parties.
  • Technology used – Hyperledger

Benefits

  • Reduced costs
  • Uniform system for the consumer
  • Real time access to the transactions to avail loyalty points
  • Immutable and fraud proof