In a recent press release, Aqilliz, which specializes in using blockchain technology for digital marketing, announced the completion of a blockchain-based loyalty program for MyRepublic, a communications company that provides an Internet connection.
The program in question, called MyRewards, use the chain of Zilliqa blocks to reward a select number of postpaid MyRepublic customers.
The system implies the possibility of accumulating points that can be redeemed in the various points of sale distributed throughout Singapore, where MyRepublic resides, through a simple QR code. Points can also be spent through the MyRepublic ecosystem app.
MyReward, the blockchain applied to loyalty programs
The blockchain has a positive impact on users, as the managing director of MyRepublic said, Lawrence Chan:
"Blockchain has tremendous potential for unparalleled insight into consumer preferences, allowing us to not only see their touch points, but also to learn and adapt some of our user-oriented strategies. Our association with Aqilliz has been an incredibly valuable experience”.
By using the Zilliqa blockchain, it is possible to reduce operating costs and fees compared to traditional methods or other blockchains. This provides a significant competitive advantage for this type of initiative.
Even if end users don't see the entire infrastructure behind them, they enjoy significant benefits, as the CEO of Aqilliz, Gowthaman Ragothaman:
"While the benefits of blockchain may not be immediately apparent to ordinary users, the less intrusive it is to the user experience, the better it will be. For program owners and merchants, MyRewards delivered clear benefits compared to existing loyalty program infrastructures. With increased transparency, significant cost savings, and the potential to deliver more value to their customers, we hope that brands can recognize that there is a viable future for blockchain as a technology that can enhance the loyalty ecosystem. ”
The system is scalable and applicable to all sectors with a loyalty system or points, such as supermarket chains and their point cards. As a result, the blockchain It certainly could be applied in many ways and in many companies.