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Qiibee CEO: Blockchain is the Perfect Technology for Loyalty Programs

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Blockchain is the easiest era to glue the loyalty program trade because it delivers extra choices and price to consumers.

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

Talking in an interview with Coinjournal, Gabriele Giancola spoke about how the era will turn out to be the loyalty sector, and the way manufacturers can higher retain their consumers with it.

“We consider the extra choices you give your consumers, the extra they’re going to be engaged and the extra excited they’re going to be with the manufacturers loyalty product,” he stated. “On the finish of the day, it’s all in regards to the price that you just give them.”

His feedback come at a time when the State of Buyer Loyalty in 2018 survey discovered that over 50 according to cent of unswerving consumers stated that they’d sign up for a loyalty program. Now not best that, however greater than 90 according to cent of shoppers believe themselves similarly or extra logo unswerving in comparison to a 12 months in the past.

But, whilst buyer loyalty is extra vital than ever, the expectancies from shoppers is rising. Consequently, manufacturers wish to to find new tactics to offer them price and stay them engaged.

Giancola believes this will also be accomplished in the course of the blockchain. Based in 2015 through brothers Gabriele Giancola and Gianluca Giancola, Qiibee’s Ethereum blockchain plug-and-play answer helps corporations, giving them the platform to create their very own loyalty methods on Qiibee’s protocol. All of that are sponsored through the platform’s personal loyalty token, QBX.

One of the vital 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 primary thought with Qiibee is that once an individual stores with a logo 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 may be able to use the Qiibee platform as an trade to get the tokens they want from any individual who calls for the tokens they have got. Now not best that, however through having all of the tokens at the similar database this makes it simple for exchanges to happen moderately than on 10, 20 or 30 other ones.

In this day and age, for manufacturers loyalty is usually a tough enviornment. In line with 2017 figures from Bond Emblem Loyalty, an estimated $100 million in issues have been left unredeemed through contributors. This items each possibility and alternative for loyalty operators. At the one hand, redeeming a small quantity would ship higher reports for contributors, whilst at the different it highlights the desire for loyalty operators to ship cost-effective redemption gives.

“If you’ll’t ship in price it doesn’t subject what issues you might be giving them if they may be able to’t use them,” stated Giancola. “Giving the issues is the straightforward section, however then giving them price out of the ones is the tough section, and that is the place maximum loyalty merchandise are suffering.”

In line with Giancola, everybody fascinated by loyalty methods believes that it is smart to have them attached because it provides customers extra choices. As a substitute of creating 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 fasten them, he stated.

“That is the easiest 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 provide you with a product. It makes a large number of sense taking the entire loyalty marketplace directly to the blockchain.”

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