About iCashRewards Loyalty Program
The iCashRewards Loyalty Program ("iCash") is supported by a powerful infrastructure for tokenization development and traditional loyalty rewards. It also promotes the application and evolution of blockchain loyalty to the global tokenized industry.
iCash will reward users with iCash Loyalty Points, which will be tokenized on the Ethereum Blockchain Network with a constant supply of 300 million in 2019. iCash will be launched on the cryptocurrency ecosystem of iBOFi, XPass and XPOS, powered by IOST, Digital One Asset Foundation, iBank Digital Asset, Pundi X, Cao Jun Art Institute and ZOS Blockchain.
The iCashRewards Loyalty Program (“iCash”) is governed by Digital One Asset Foundation(“Digital One Foundation”) which is an independent, not-for-profit membership organization incorporated in Singapore.
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Background on Blockchain Loyalty
Loyalty reward programs exist in many industries from airlines, grocery stores and coffee shops. Its main purpose is to build customer loyalty and generate repeat business. According to Philip Shelper*, author of “Blockchain Loyalty: Disrupting Loyalty and Reinventing Marketing Using Cryptocurrencies”, there are six elements that exhibit in a successful loyalty program: simple, emotional, valuable, surprising, differentiated and developing.
It must be easy for user to join, understand and engage in a loyalty program.
Personalized service and social inclusion invokes emotional response from users.
Popularity and incentives increase the perceived value of a loyalty program.
Unexpected and delightful small wins increase the satisfaction of users, which increases the loyalty of users to the brand.
The current market gives crypto tokens a momentum to stand out and differ from other loyalty programs.
Using trials and user feedback will keep the loyalty program continuously engaging and enhanced for users.
*Philip Shelper has over 12 years’ experience within the loyalty industry, including roles at Qantas Frequent Flyer and Vodafone, as well as running his own loyalty management consultancy, Loyalty & Reward Co, which he established in 2013. Loyalty & Reward Co focuses on loyalty program design and implementation for major companies globally. Phil is a member of over 140 loyalty programs, and a researcher of loyalty psychology and loyalty history, all ow which he uses to understand the essential dynamics of what makes a successful loyalty program. He is an active cryptocurrency trader and presents regularly on blockchain loyalty at conferences and meet-ups around the world. Phil is always interested to share knowledge about blockchain loyalty, and regularly does so via www.blockchainloyalty.io, a global blockchain loyalty resource centre.
Benefits of Blockchain Loyalty
While cryptocurrency has been around for over 10 years, it is still exciting to many new users who do not own any or only owns one type of cryptocurrency. The introduction of a loyalty program that rewards users with various cryptocurrencies exposes users to a fun and exciting market. Rather than receiving points, users are receiving actual currency with value that has a chance to grow. Their exposure to different cryptocurrencies without actually “purchasing” it allows them to experiment and try out the crypto market more than they previously would do.
Blockchain Loyalty Company
Similar to airlines, blockchain loyalty companies also find retailers and partners to accept and distribute their loyalty cryptocurrency. Retailers often accept loyalty cryptocurrency as payment or provide discount if a user is a member of a certain blockchain loyalty program.