Reading: New Platform Allows Converting Rewards From Loyalty Programs Into… Bitcoinist | Aug 09, 2018 | 22:00 The Gabrotech company is developing a platform that will allow making different loyalty rewards a digital asset.
Available either for conversion into cryptocurrencies or fiat currencies, or for exchanging with other reward points. The release of the platform is planned for December.
For further improvement, the company is running an Initial Coin Offering (ICO) until Sept. 1, with a bonus of up to 20 percent.
Although loyalty reward programs are growing in popularity, they lack the appropriate experience for customers. According to data provided by the Gabrotech company, a single household is enrolled in 25 programs on average, but the rate of their utilization remains low, ranging from 10 percent to 80 percent.
Surveys show that 78 percent of customers are “generally not happy” with their loyalty programs. On the other side, Loyalty Program Operators (LPOs) do not hurry to fix this, as they view expired bonuses as an additional profit. Gabrotech addresses those issues. The startup, established by a team of six blockchain enthusiasts, is aiming “to democratize” an estimated $500 billion global market of loyalty programs by developing a universal platform on the blockchain, comprised of several services. Read more from bitcoinist.com…
thumbnail courtesy of bitcoinist.com