Latest loyalty rewards News

Japanese technology firm Fujitsu has launched a new loyalty points system aimed at the retail sector and powered by the blockchain, in its latest bid to develop commercial use cases for the technology. On its website, the IT giant describes how traditional retail promotions and marketing strategies could be deployed through its new blockchain system. The system tokenizes common promotional models in the retail sector, like rewards points and coupons. According to Fujitsu, the blockchain integration will encourage the ‘willingness to buy’, while also enabling more effective data collection and analysis. Known as the ‘Fujitsu Intelligent Society Solution Blockchain Asset Service’, the system will be interoperable with smart applications, helping encourage uptake in the case of specific marketing events, as well as shaping consumer behaviour. The system, according to the tech firm, integrates with a number of other technologies to allow better data analysis. “With this service, users can collect digital points or stamps by reading QR codes located in specific areas with smart devices, and then exchange them for coupons and other benefits that can be used in stores...In addition, collection and usage data for the points, stamps, and coupons, which are recorded on the blockchain distributed ledger, can be linked with user information for analysis,” Fujitsu stated. The API will enable easy interfacing, without requiring any technical understanding of the underlying application or blockchain technology per se, in a move designed to make the platform as accessible as possible to retail businesses. The system was first tested in Taiwan, in a trial pioneered by FamilyMart, a chain of convenience stores. The trial combined communication robots with the blockchain tech in a bid to attract more customers to the store, with initial findings proving positive. One of the pioneering IT companies in the blockchain space, Fujitsu has already explored a number of commercial applications for the technology, including in data monetisation and interoperable payments. The new retail rewards platform becomes the latest deployment from Fujitsu, as it aims to become a leading name in the commercial blockchain space.