Life has never been more comfortable when it comes to bonus point exchange systems based on blockchain technology. SLP Network brings you a platform designed for these specific loyalty programs.
The Problem
The company has one purpose, and that is to resolve the rising inefficiency rate that comes from traditional loyalty programs in the majority of markets around the world. According to the 2017 COLLOQUY Loyalty Census Report, there are 54% of loyalty members who appear to be “inactive” while almost 60% of customers ignore the abundance of loyalty communications they receive by email or text messages.
The Solution
The company has users and clients all around the world, from all continents and they paid considerable attention to their frustrations regarding the wasted loyalty points. It was evident that the situation couldn’t be left like that and they came with an idea: a tool that is easy to be used so no one would have any problems using it and on top of that, the actions should be quick and on point. From this idea, the SLP Network was created.
The exchange platform will give it’s users the possibility to incorporate the bonus points they have from businesses that are part of the platform that they can trade if they need an upgrade at a hotel or anything else to supply their needs. Companies with loyalty programs who attend will have benefits from increased brand loyalty and retention of customers which is a universal business objective.
Businesses will have the possibility to issue, process, and use loyalty points in the form of tokens on a distributed blockchain platform. Customers will have the opportunity to trade in bonus points using the platform’s currency, SLP tokens, and exchange those earned bonus points for different products and rewards that they want. What will come out of this will be brand loyalty experiences that are more efficient, interactive and engaging.
Technology
The SLP platform will consist of an infrastructure where users and businesses are part of the same shared platform. Every data, operation and transaction will flow between entities, through business-specific smart contract layers. Operations will be processed by trusted nodes, selected by consensus among the businesses-token issuers who are present on the platform.
The Product
SLP gives the user the possibility to trade the bonus points from different loyalty programs by using a token loyalty marketplace. This will provide a new customer engagement channel for businesses and the benefits from rewards programs will have a much higher value in the eyes of the customer.
Data collected from transactions performed by users is collected and provided to merchants and brands, ensuring personalised and efficient marketing, lowering costs and facilitating effective, direct interaction between businesses and consumers.
The platform has support for both Mobile and Desktop devices however it has different functionalities:
Mobile:
The user has secured wallets for SLP tokens or loyalty point tokens
Fast marketplace for cross-brand exchange with community-driven rates
Smart contract-based offers and reward redemption
Desktop
Customization of loyalty program rules and conditions
Customer loyalty activity management
Robust analytics reporting engine
If you want to learn more information about this technology, the story behind it or maybe the steps that were taken for the creation of the platform, feel free to visit their Website, Facebook, Twitter & Telegram.