Event review : Discussion on how does blockchain empower traditional member point system and produce spillover effects

The online meetup about ‘How does blockchain empower traditional member point system and produce spillover effects’ which discuss the cases and application prospect of blockchain and member point system hold by OUMI Reading Club ended successfully.

The membership points system has several hundred million markets in the world and has great commercial value and application prospects. In the traditional point system, there is a point system for consumers and a point system for employers, and these different applications can generate spillover benefits with the help of blockchain.

Point system for consumers

For this system, member points are more like an external interface to the main business model. Member bonus points attract more fans in multiple ways. The consumer-side point system falls into three broad categories: discount coupons, credit card, and debit card rebates, and vertical industry incentives.

In the discount coupons area, we can refer to Lolli, a Bitcoin shopping rebate application in the United State. It offers a browser plug-in that allows users to receive Bitcoin which can be used in Lolli wallet as a rebate if they make the e-commerce consumption. The core of the project is to capture traffic and attract customers by taking a cut from the middle through the acceptance of bitcoin and legal tender exchange.

Besides, Fetchrewards is another project which attracts customers and meets the service requirements of specific groups through discount coupons. Bakkt, a Bitcoin futures trading platform, also capitalize its detachable membership system.

By contrast, the credit card points system is more like a fan economy for a specific group of people. For example, Cardless collects fan information (preferences, age groups……) by providing a credit card solution for clubs. Cardless collect user behavior data for enterprises to earn rebates, service charges, and other commissions to capture traffic and attract customers.

In addition, customer binding of membership points has made certain achievements in the vertical field. For example, Miles supports local drivers to gain points after delivering the goods. Beam Dental encourages users to get and redeem the points by brushing their teeth and buy and sell dental tools. 

Point system for employees

Due to the impact of the epidemic, the profits of most enterprises have been squeezed and their operating models have changed. In this context, a new performance assessing method and incentive method has been established with the help of the blockchain integral system to improve the productivity of employees. For example, employees in Yulife are encouraged to exercise and be awarded points that can be redeemed for products or insurance. ACAD converts employees’ points of sale into rewards points which can be changed into discount coupons. 

In the future, the innovative combination of blockchain and membership integral systems will have a wider range of application scenarios. Through this online meetup, everyone has an in-depth understanding of blockchain and the integral system. OUMI Reading Club will hold more communication activities to discuss the application prospect of blockchain.

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