Capgemini and Ascribe Build Blockchain Project for Banking Loyalty Rewards

Technology consulting firm CapGemini took its latest step on its bid to dramatically increase its investment in blockchain tech this week, announcing a partnership with industry startup Ascribe that would find it using the startup's solutions to create a real-time rewards system. The project comes amid a larger push by the Paris-based company that has seen it go public with its desire to hire 100 blockchain professionals for its financial services department by the year’s end. The move positions CapGemini as among the more aggressive global consulting firms in seeking a market share in....

Bitscan, a cryptocurrency merchant directory, has partnered with blockchain platform Waves to bring customer loyalty programs to the blockchain. If successful, the partners say their Incent Loyalty network will make loyalty rewards programs more useful and cost-effective. By utilizing the blockchain, the team says the platform allows merchants of any size to create customer rewards programs without incurring wasteful costs. The platform works by allowing merchants to choose a reward size for their programs, which get pooled with other rewards across the platform’s network. According to the....

Dubai is set to host the world’s first blockchain loyalty program with the launch of Loyyal, an umbrella scheme aimed at uniting many rewards programs under one banner. Uniting ‘Fragmented’ Loyalty Industry. In concert with the Dubai national government, Loyyal will use an “unbundled” blockchain to provide value transfer between loyalty scheme....

Incent Loyalty, an Australian-based company, wants to tap into the potential of loyalty rewards points through creating a tradable, “open-value” token called Incent, which customers use to gain and trade loyalty points near-instantly and worldwide. While low-cost blockchain technology helps to solidify storage, Incent Loyalty’s consumer facing applications can be personalized to align with the branding of merchant partners. Incent: Tokenizing Loyalty Rewards. To provide an easier customer experience, loyalty values will additionally still be displayed in terms of that particular region’s....

A new report from Deloitte explores how blockchain could be used in loyalty rewards programs. The report, released by the Deloitte Center for Financial Services, argues that most loyalty programs offered by US companies face a problem, as they are underutilized and have high management costs. At the same time, loyalty rewards recipients are just as likely to leave a program due to a perceived lack of convenience, the study found. Blockchain, according to Deloitte, presents a potential solution, offering a mechanism by which a loyalty program would function similarly to digital currency.....