How does loyalty on the blockchain work, for real? Here is one use case.
qiibee is helping out frequent flyer programs to capture the long tail of potential partners. What does it mean? All frequent flyer programs make money by selling and buying miles from their partners, such as the airline or credit card provider. Of course, frequent flyer programs want to work with partners with a large, critical mass of volume of miles per year. Smaller partners are, therefore and traditionally, not interesting for these large frequent flyer networks.
Here is where we come into the picture. We bundle the whole long tail of smaller partners for these frequent flyer programs, efficiently, through our technology.
For example, a fan buys a watch on the e-commerce store of a watchmaker, and then receives the thank you email, containing a unique code and a link to our loyalty program platform. The fan logs in, inputs the code into the app and instantly receives his tokenized points.
Now, the fan has two options: (1) burn points into a gift card, to buy more of their favorite watches; or, and here we start connecting the dots towards an ecosystem, (2) exchange points into miles, and fly away to their favorite destination.
By creating this exchange platform where both points and miles are tokenized and where, on the same blockchain, the fan is empowered and freed – to stay with a Brand or to choose miles – we create a true ecosystem, with hundreds of options to spend the loyalty currency, while maximizing the spending power of each fan.
The net effect of the ecosystem will reward both the Brand and the global economy. And, this is only the beginning.
What is loyalty? We are moving from a centralized and controlled relationship into a decentralized and empowering relationship between brands and fans.
We believe that blockchain is the new standard for loyalty, because only blockchain creates empowered fans and efficient brand experiences. Fans will be loyal to Brands, for the right reasons, increasing their lifetime value and unlocking the entirety of their purchasing power.
Future ecosystems are just enablers. The future will reward virtuous and disruptive brands. Game is on! Time to do some world class loyalty. Time to create some true fans and empower them.