Blockchain Lab
The Use Case
A maor flaw with loyalty programmes is that the data is stored in a number of different silos. As a result, many customers don't receive the rewards which they deserve, which sometimes leads to a lower transaction rate.
A loyalty system underpinned by a blockchain could alleviate these problems. The information in these silos could feed into a blockchain, which would create a simple view of a customer. This view would be in real time therefore it would give the customer a clear view of how much more activity would warrant a bonus. This could increase their usage and provide an incentive to do more business.
How It Could Work
Alan has entered into to a loyalty programme with his bank which could see him earn €250 if he uses his debit card 15 times a week. Having completed this, he fails to receive his money. Upon contacting his bank, the relationship manager realises that his entry form wasn't processed and shares the money.
A blockchain loyalty programme could remove the friction in the above situation. By writing the rules into a smart contract, it would ensure that Alan is paid immediately when he reaches the threshold. It would also provide a clear view of his customer behaviours meaning product could be tailored to fit his needs.
- mapping out the revised architecture and process flows brought about by the blockchain paradigm
- selecting and deploying existing API’s and libraries
- developing bespoke software where no solutions exist
- seamlessly bring the blockchain into the system
- educate stakeholders on the migration
Blockchain Lab provides a services layer and a RESTful API for interacting with the blockchain. We also run a highly sophisticated testing harness to assist you in rapid integration or development of new subsystems.