Distributed ledger technology is being widely used across industries due to its unique properties of immutability, transparency, and decentralization. The revolutionary technology is now being utilized by the customer loyalty and rewards industry to combat fraud and also offer great returns to brands and retailers.
Leading the way is CausePlay, a company that has created a solution by blending blockchain with patented technology. Under the brand name ThrityThree.8, CausePlay has created a loyalty and rebate platform for customer retention and engagement using Ethereum blockchain. The platform has its own token economy driven by Virtual Cash Back (VCB) tokens.
The VCB tokens are the medium of value exchange on CausePlay, allowing companies to offer something of real value to the users in exchange for their loyalty to the brand or their retail store. Meanwhile, the platform offers extended abilities for the brands to customize their loyalty programs to match their requirements.
According to the company, the platform can address the issues of fraud plaguing the loyalty and rebate industry, causing losses worth $600 million a year. In addition to creating customized, targeted offers, the platform also allows the brands to prevent duplication, which is prevalent in the case of conventional coupons by the implementation of built-in DRM protection.
The CausePlay blockchain loyalty and rebate solution also offers a much greater control for brands over their budgets, all in real-time. It also helps the companies expand their consumer base to include the unbanked as the cryptocurrencies can work independently of the traditional financial sector.
By offering cryptotokens as rewards, CausePlay loyalty and rebate platform can offer the same benefits to the unbanked like the rest of customers. By doing so, it will help brands tap into a spending power of over $1 trillion.
Meanwhile, CausePlay is currently running a token sale, offering people an opportunity to be part of the revolutionary initiative. Investors and cryptocurrency community members can buy the tokens by sending Ethereum to the token contract available on the website.
Live Bitcoin News is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at Live Bitcoin News, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.