Blockchain & Loyalty: A solution in search of a problem?
BLOCKCHAIN HYPE VS LOYALTY BUSINESS NEEDS Consider today's problem... You take a flight to see family for Christmas, and you earn some frequent flyer miles...You buy a coffee from Starbucks once or twice...You fill up with fuel from a Shell station, and sign up for their fuel rewards program...You purchase something at a store and the cashier gets you to sign up for their rewards program. And then... you realize that you have all these orphaned points and miles from loyalty programs which you don't use regularly, and none of your reward accounts has enough points to redeem. In fairness - other than being persuaded to enroll - you haven't changed your purchase behavior to buy more from any of them - they were all purchases that you would have made even if they didn't have a rewards program. But now you have a combined 200 points from all of them - and darn it! - they're your points and now you're wanting to buy a flight on a different airline for a family holida...