Good Day! Can you explain to me the way blockchain is going to increase convention ratio in loyalty programs?
You can see short explaination for blockchain in EZ Project, quote from WP:
Blockchain is used in this projectas a mechanism of peer-to-peer transfer, as well as for acquiring or redeeming of Loyalty Points for all participants of the eco-system.
Moreover, blockchain technology removes the need of a third party as a trusted entity for all transactions and thus significantly removes overhead costs. Each participating merchant contributes to the performance of the system by running an autonomous component of the blockchain network and obtains benefits through very low transaction-fees.
Loyalty Points on our platform increase in value and become an exchangeable currency deployed as a unit of exchange for gifts or rewards. Furthermore, our system is extendable for any future payment services in any country that allows the option.