We’ve all had, at least once in our life, the little card from our favorite coffee shop where every time you ordered a coffee they would stamped it, and then after your 10th coffee you would get a free one. We can’t help it but to be very excited every time that it’s free coffee day because we know it’s always going to be a good day. Loyalty programs are a very brilliant idea, because it keeps us going back there time after time.
But what if today was your free coffee day, you are not in town, and you wish you could use your reward card to buy a good meal instead, well soon enough you will be able to do it.
Today I have stumbled on a project that could really be a loyalty program game changer.
LoyaltyCoin came up with an app that allows us to accumulate Loyalty point in an establishment and then use them in an other one. As per say, you could stock up point by taking community transport everyday, and then use theses points to buy clothes in your favorite store.
The rewards and loyalty program are a fragmented global USD 300-500 Bio. Industry. In the US, on average, every inhabitant is a member of 15 rewards program. However, almost half of them are inactive and most of the times the members don’t even redeem their rewards because, let’s face it, people don’t always carry their 15 loyalty cards around and will even forget they are a member of some of theses programs.
The App
That’s exactly why LoyaltyCoin is launching an application that will group everything together; the brands, the store, the points, the exchange, the locations of the participating businesses and much more. It’s really simple to use and you can see your rewards in real time.
At the initial Launch on September 5th 2017, LoyaltyCoin had already partnered up with 2 merchants and 4 shops in Zurich, Switzerland. Theses merchants didn’t had a reward program beforehand, and during their 8 week pilots phase, 290 000 points have been cumulated through the app. You can see live that this number is still growing.
Ecosystem
The only thing a customer needs to be a part of LoyaltyCoin is a cell phone (iOS or Android) for downloading the app. Then he can start collecting points.
All kinds of traditional as well as e-commerce merchants can join the ecosystem. No matter the size, the industry or if they already have a loyalty program or not. Merchants are also allowed to establish their rewards system as they see fit. The only condition is that the programs allows to exchange points with other merchants.
LoyaltyCoin is in charge of developing the community by attracting merchants. Their own rewards will be from service fees that merchants will pay to participate in the program.
The Loyalty Blockchain is currently private but it will be public as soon as all the finals adjustments are tested and approved.
All about the Token
The LoyaltyCoin blockchain have created a fixed amount of 21 million native LYC Tokens.
They aim to raise 6 to 8 millions USD during the TGE, therefore the expected value of the LYC should be between 1.5 and 2.0 USD per token at first.
The Loyalty points of each individual merchants are qualified as sub-tokens on the LoyaltyCoin blockchain.
There is no specific date for the ICO/TGE yet, but from what I understand it should be around end of 2017 or mid january 2018.
Follow the official BitcoinTalk Thread to know all the latest details.
https://bitcointalk.org/index.php?topic=2089279
Official Website https://www.loyaltycoin.ch/home
Telegram https://t.me/LoyaltyCoinChat