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Qiibee CEO: Blockchain is the Perfect Technology for Loyalty Programs

Blockchain is the very best era to attach the loyalty program trade because it delivers extra choices and price to shoppers.

That’s in keeping with the CEO and co-founder of Qiibee, a Swiss-based loyalty token protocol that is helping manufacturers run their loyalty systems at the blockchain.

Talking in an interview with Coinjournal, Gabriele Giancola spoke about how the era will develop into the loyalty sector, and the way manufacturers can higher retain their shoppers with it.

“We imagine the extra choices you give your shoppers, the extra they are going to be engaged and the extra excited they are going to be with the manufacturers loyalty product,” he mentioned. “On the finish of the day, it’s all concerning the worth that you just give them.”

His feedback come at a time when the State of Buyer Loyalty in 2018 survey discovered that over 50 consistent with cent of unswerving shoppers mentioned that they might sign up for a loyalty program. Now not most effective that, however greater than 90 consistent with cent of customers believe themselves similarly or extra emblem unswerving in comparison to a 12 months in the past.

But, whilst buyer loyalty is extra necessary than ever, the expectancies from shoppers is rising. In consequence, manufacturers want to in finding new techniques to provide them worth and stay them engaged.

Giancola believes this may also be accomplished throughout the blockchain. Based in 2015 by means of brothers Gabriele Giancola and Gianluca Giancola, Qiibee’s Ethereum blockchain plug-and-play resolution helps firms, giving them the platform to create their very own loyalty systems on Qiibee’s protocol. All of which can be subsidized by means of the platform’s personal loyalty token, QBX.

One of the manufacturers at the back of Qiibee come with Caffe Lattesso, the second one biggest espresso manufacturer in Switzerland and Sausalitos, a cocktail bar and eating place chain in Germany.

The principle thought with Qiibee is that once an individual stores with a emblem they prefer, they’re then rewarded with the branded token, whilst interplay is continuous. If an individual has branded tokens with one corporate, however calls for tokens of any other that they don’t have, they are able to use the Qiibee platform as an change to get the tokens they want from anyone who calls for the tokens they’ve. Now not most effective that, however by means of having the entire tokens at the similar database this makes it simple for exchanges to happen slightly than on 10, 20 or 30 other ones.

These days, for manufacturers loyalty is usually a tough area. In line with 2017 figures from Bond Emblem Loyalty, an estimated $100 million in issues had been left unredeemed by means of contributors. This gifts each chance and alternative for loyalty operators. At the one hand, redeeming a small quantity would ship higher studies for contributors, whilst at the different it highlights the will for loyalty operators to ship cost-effective redemption gives.

“If you’ll’t ship in worth it doesn’t topic what issues you’re giving them if they are able to’t use them,” mentioned Giancola. “Giving the issues is the simple section, however then giving them worth out of the ones is the tricky section, and that is the place maximum loyalty merchandise are suffering.”

In line with Giancola, everybody fascinated by loyalty systems believes that it is smart to have them hooked up because it provides customers extra choices. As an alternative of establishing new programs the place customers must obtain extra apps to be a part of one thing, why now not see what’s already to be had and attach them, he mentioned.

“That is the very best era and it’s an natural transfer for the loyalty program as a result of when a buyer does one thing they get rewarded for it,” he added. “You give the ones issues again and I come up with a product. It makes a large number of sense taking the entire loyalty marketplace directly to the blockchain.”

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