Topic: THE PROBLEM WITH LOYALTY REWARDS AND HOW CRYPTOCURRENCY IS SOLVING IT!!! (Read 87 times)

Imagine a loyalty solution that had all the advantages and none of the drawbacks of traditional rewards program that could also take advantage of this industry growth! A company called rewards.com have made imagination a reality by creating an innovative solution through the use of blockchain technology to introduce cryptocurrency to the mass consumer market.

Points and miles run on the opposite framework instead of running on a decentralized system, points miles are running on a centralized system through companies that issue them. Best Buy Membership rewards points are only issued by Best Buy on a transaction basis, and the bank has full control over their value. American Advantage miles are issued by American Airlines with no real value as flyers can only use it on American Airlines. You’re probably wondering why would American want to issue cryptocurrency “miles” if they can use them on competitors? Well, American has billions of dollars in unredeemed liability miles just sitting out in the world. Issuing a crypto “mile” would lift the liability cost on their books theoretically saving airlines billions of dollars...

Not only do customers have to understand and learn how to manage every single loyalty program individually (since they are not compatible with each other) but also reward points are spreading around and not available for customers to exchange them for other products or better services. Case in point – the average American household is registered in 29 loyalty programs, but uses only around 10 of them, more than 90% of users would like to use one loyalty ecosystem with one underlying loyalty currency all while protecting customers information.

If you're interested check out the website. https://www.rewardstoken.io

Bitcoin talk forum: https://bitcointalksearch.org/topic/m.31663703

Thanks yall!