Global blockchain development company HashCash Consultants announced the commencement of a new project for a major US retail organization; creating a loyalty rewards platform.
An underlying blockchain architecture decreases system management expenses in customer loyalty programs. Compared to conventional methods for customer engagement, blockchain-powered programs achieve better client retention as well as redemption rates. Smart contracts expedite processes in real-time while creating a secure environment preventing unintentional errors or fraud. The unique solution also allows seamless integration of multiple brands within the same rewards program.
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HashCash CEO and noted blockchain pioneer Raj Chowdhury states, “The incorporation of blockchain technology optimizes loyalty rewards programs. Inclusion of multiple brands under an umbrella also creates unique opportunities for business expansion.”
The business ecosystem, in the making, shall entail a crypto token to represent the exchange of value. The token will be used for the purchase of goods and services and will also comprise the rewards paid to the loyal customers.The loyalty program will feature rewards in the form of a utility token. The tokens can be redeemed at partner brands in the loyalty rewards program. Users can also convert the tokens into fiat denominations and cash out at PayBito, a global digital assets exchange run by HashCash.
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HashCash products and services are deployed across 5 continents in more than 26 countries. Specializing in blockchain, cryptocurrency, and fintech, the company also offers its expertise in big data, AI, IoT, and cloud computing. The company recently disclosed its involvement in the building of a space commodities market in partnership with a renowned space technology organization. A powerhouse in blockchain development, HashCash was ranked 1st in an international list compiled by a global business review firm.
“One of the biggest advantages of blockchain technology is its flexibility to fit into any domain. The foundational technology can increase operational efficiency in countless sectors including trading exchanges, supply chains, fintech, and conventional corporate structures,” mentioned Chowdhury, who had previously spoken on the significance of crypto and wallet services.
Blockchain-based loyalty programs can make a notable difference in attracting clients with the possibility of higher rewards, faster operations, and lower costs. Considering the rise in global crypto adoption, a HashCash-designed loyalty rewards program is an ideal choice for businesses looking for enhanced client retention and engagement at lower expenses. The effort establishes a robust business ecosystem devoid of fiat; however, enabling conversion at will.
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