Sponsors vs. mentors
Grant McCracken: Value comes from meaning

Making rewards portable, but not too portable

The MobileBridge Momentum Platform is the most developed blockchain loyalty solution I've seen, although it doesn't have a track record yet. Consumers certainly want rewards they can use outside the company that provides them, and we have that now with multi-retailer platforms like Nectar, as well as offerings from American Express Membership Rewards

What struck me about Momentum is that a company using the platform is expected to set up the rules for its own rewards, having the ability to customize their own reward program but still use the underlying platform, and allowing them to evolve their program. It made me wonder... 

Suppose I have a reward program and a segment of my customers are loyal but not using their points. Could I let the points sit for a few months then invite just that group to transfer the points? If I had that much flexibility, it sounds very inviting. 

Chipin: Meet the Boss – Exclusive Interview with Momentum CEO Kees de Vos, 2018-May-21 by Daniel

We use blockchain to make the storage and usage of consumer data more transparent and hand the user control over their own data and how it’s used. At the same time blockchain inherently offers great ledger capability to distribute value in the form of loyalty points, globally and accurately. And in both cases, the security of blockchain offers tremendous benefits. 

Having arrived at this point, it allowed us to expand our proposition to address some real-world frustration around loyalty systems that exist these days, for both end-consumers and the companies that are running them.... 

Consumers have the overriding feeling that they can’t [earn] enough loyalty points in the loyalty programs they have joined over the years. And even if they get to the point where they do have enough points, they find it simply too hard to find the rewards that they really value. Globally around $250Bn worth of loyalty points expire every year and are simply wasted! This is not only frustrating for the consumer; the companies that run these loyalty programs simply don’t get the return on investment that they are looking for.

Using these unused points to actively build more engagement with consumers and make it easier to redeem them across not one, but multiple loyalty systems address a huge issue in the market. The hugely positive response we have received so far seems to suggest we have hit a nerve!... 

Yes, companies will have the tooling to create their own tokens and set their own specifications, such as the token value, the number of tokens created and the ability to exchange with none, some or all other loyalty programs on the platform, for example. The Momentum team or one of our partners will be able to assist in this process, based on our experience.

Once that has been set up, the company branded tokens can be used to earn and redeem rewards within that companies loyalty scheme, transferred to another companies loyalty scheme or exchanged for Momentum Tokens, which can be traded on the open market for Bitcoin, Ether or any other crypto-currency.

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