Multinational web service and telecommunications supplier, MyRepublic has teamed up with blockchain digital advertising firm Aqilliz to pilot a brand new blockchain-based loyalty programme pilot.
Entitled MyRewards, the blockchain-based loyalty programme software was developed as a part of the IMDA Blockchain Problem which seems to discover the functions of blockchain to drive better operational effectivity and enterprise mannequin innovation within the telecommunications sector.
Lawrence Chan, Managing Director of MyRepublic Singapore, stated:
“Blockchain has monumental potential for unprecedented insights into client preferences, permitting us to not solely see their go-to touchpoints, but in addition be taught and adapt a few of our methods in consumer concentrating on. Our partnership with Aqilliz has been an extremely invaluable expertise.”
Gowthaman Ragothaman, CEO of Aqilliz, stated:
“Whereas blockchain’s advantages might not be instantly obvious to on a regular basis customers, the much less intrusive it’s to the consumer expertise, the higher it’s. For programme house owners and retailers, MyRewards imparted clear advantages in comparison with current loyalty programme infrastructures. With elevated transparency, vital cost-savings, and the potential to ship extra worth to their clients, we hope that manufacturers can recognise that there’s a viable future for blockchain as a know-how that may form the loyalty ecosystem for the higher.”
MyRepublic subscribers obtained an invite to obtain the MyRewards cellular software, obtainable on each the Google Play and iOS app retailer. From February to April 2020, MyRepublic clients might earn factors based mostly on their month-to-month invoice which could possibly be redeemed at any of the corporate’s 19 shops islandwide by way of an in-app QR code system.
As well as, MyRepublic customers additionally had the choice of incomes factors by connecting to over 20,000 Wi-fi@SG hotspots islandwide at places together with buying centres, libraries, neighborhood centres, and different public venues. MyRewards factors might then be spent on in-app purchases for retail vouchers and different branded provides, rewarding customers for his or her participation.
Aqilliz leveraged Zilliqa, the high-performance, high-security blockchain platform for the MyRewards cellular app as a way to discover the feasibility of a public blockchain community for a wide-scale software.
When in comparison with conventional loyalty programmes, transaction prices could be considerably lowered with blockchain know-how—a invaluable profit enabled by Zilliqa’s distinctive strategy to transaction processing. These cost-savings and emphasis on provide chain transparency all merely serve to intensify the shopper expertise on the MyRewards app, as transactions happen in near-real time and programme house owners profit from a holistic, ongoing view of buyer habits.
Aqilliz seems to construct a wider community of blockchain-based loyalty programmes that may perform as one interoperable system, as a way to improve the effectivity and utility of this widely-used buyer engagement technique.