With the power of Distributed Ledger Technology, Blockchain is an excellent tool to run customer loyalty programs.
The cost associated with establishing, operating and securing loyalty points is complicated as well as expensive.
Breakage is points/currency which expires before used, and can be as high as 30%. Also till the day these points expire, they will sit as a liability in balance sheets of brands.
By digitalization of reward points, loyalty programs are increasingly tracking a currency and personal data which prone to hacks.
Businesses have their own reward programs and points earned can only be redeemed with the same business and not with the sub-brands, which dwindles the cross-functionality.
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