LoyalCoin is the cryptocurrency that is the next evolution of customer rewards. The LoyalCoin token serves as a utility token that will be the medium of exchange in a global, universal rewards ecosystem, where customers earn LoyalCoin when spending at any participating merchant and then use LoyalCoin for redeeming rewards from any merchant within the LoyalCoin system, among many more functions.
When customers earn LoyalCoin, they are empowered to use it in more ways than traditional customer loyalty programs offer. In both conventional and blockchain-based rewards systems, customers can acquire rewards and incentives using their points. However, in this new ecosystem, the points from one merchant can be used to acquire rewards from any merchant within the ecosystem, even if it's a separate merchant. In addition to redeeming rewards, LoyalCoin can be exchanged for rewards from other merchants, as well as future functions that blockchain technology will allow.
Much of the economic activity that the LoyalCoin generates takes place in the LoyalWallet, the smartphone app that facilitates the purchase of goods and services, redemption activities, import and export of tokens, and currency conversion. In the same vein that we allow consumers to have infinite options for their rewards, we also offer merchants the option to customize their loyalty rewards, set the terms of their promos in real time, and track users’ redemption activity, through the LoyalMerchant tablet app.
LoyalCoin is created by Appsolutely, the Philippines’ premiere customer loyalty company, offering the country’s first blockchain-based customer loyalty solution with LoyalCoin and, before that, the first white-label mobile loyalty solution for businesses.
Companies that are working with Appsolutely for the LoyalCoin solution include the blockchain platform NEM, as well as brands and services such as GetGo Rewards by Cebu Pacific, Grab, 7-Eleven, Gong Cha, TrueMoney, and Trident Food Holdings, with more partners across multiple countries to be announced soon.