Among the many blockchain projects being launched today, only a few have significant economic value. The problem is that most are focusing on raising financing through ICOs rather than product development. SMATHIUM understands its market better given that most of its team members are highly skilled and experienced professionals in designing and implementing loyalty reward programs. With over 10 years of hands-on experience in this field, we can confidently say that we understand the challenges of this industry and are best suited to offer a blockchain based solution.
SMATHIUM is a blockchain-based loyalty platform aimed at solving the key challenges facing the traditional loyalty programs. Studies show that while customers love loyalty programs, they are not enjoying them to the maximum. A survey by CodeBroker shows that at least 54% of consumers are frustrated with their loyalty reward programs. The reasons for the frustrations include lack of differentiation and the fact that the majority only provide limited benefits. Also, implementing a robust loyalty reward program tends to be ridiculously expensive locking out the majority of businesses.
While conglomerates such as departmental stores and airlines can afford to provide high-value membership programs to their customers, small and medium enterprises cannot. Smathium aims to bridge this gap by building a multi-business loyalty reward platform that is open to all types of businesses. At the heart of this platform is the goal of creating long-term value for customers rather than serving as a short-term promotion. Think of our solution as a Decentralized Application (DApp) where all businesses can create their loyalty reward programs powered by a single token.
This token can be used for transactions across all businesses registered on our platform and can be traded in exchanges. Smathium's goal is to create a DApp where brands can connect their existing loyalty programs to a blockchain network. All transactions within our ecosystem are facilitated through the SMA token which is our official cryptocurrency. Smathium will be launching a news app and a quiz app in December 2018 and January 2019 respectively.