Appsolutely Launches New Blockchain “Loyal Economy”, the LoyalPlatform, LoyalCoin and LoyalWallet, To Mend Gaps in Fragmented Rewards Programs
Appsolutely, the blockchain eCommerce leader in loyalty, has publicly unveiled their latest development LoyalPlatform; a consumer loyalty strengthening ecosystem. Launching complementary features such as the new LoyalCoin (LYL) token and LoyalWallet to manage funds, CEO and founder Patrick Palacios is aiming to narrow the vast gap that exists in the $1.68BN market between company rewards programs and consumer activity.
LoyalPlatform’s focal mission is to convert “reward point” values back into commerce to both encourage engagement and assist brands in building stronger consumer relationships.
With the use of this single platform, the hassle of redeeming brand exclusive points will diminish as consumers can freely exchange and redeem coins across channels. LoyalPlatform seeks to utilize the evolutions in Cryptocurrency to offer a solution to fragmented loyalty programs and boost involvement into retail markets.
LoyalPlatform’s functionality will be familiar. A consumer downloads the LoyalWallet application and loads a desired balance. As with current virtual wallets ApplePay or GooglePay, an individual can choose to add fiat currency or load existing token currency balances. Bitcoin, XEM, and Ethereum are all accepted into this new-age marketplace, for the development of LoyalCoin is based on an ERC20 compliant model. As a result, customers can convert currencies to and from LoyalCoin in real time. Once companies attain a bank of LoyalCoin (LYL) tokens, they are enabled to distribute them per company standards with each transaction. LYL tokens earned and balance will be available on the app. Rewards are transferable among branches of Cryptocurrency as well as being able to be cashed out into fiat currency.
How is such instantaneous compatibility feasible? The emerging “Loyal Economy,” as the parent company Appsolutely dubs the LoyalPlatform, is backed by omnichannel, blockchain technology. As made known by the rising popularity of Bitcoin and other Cryptocurrencies, on these interfaces network users can access the transaction ledgers and manipulate them as desired. Each update is an additional encrypted section that is fixed to the end of the “chain” of functions.
The appeal of blockchain lies in the core concept that while transactions are transparent and accessible, the encrypted registry remains highly secure and tamper-resistant. This in itself will allow for trust in brand loyalty without transaction traceability.
With use of ERC20 structure, (an accepted sequence of 6 functions and 2 events that originated in the Ethereum dimensions) despite the evolving market, LoyalCoin (LYL) will remain up to date in value. When compliant like LYL is, the value of a given token can be respectively converted to another form in real time. If you’re unfamiliar to blockchain, no need to ramp up your knowledge to partake in savings. Palacios and the team behind LoyalPlatform have developed IOS and Android compatible applications to grow the community.
A differentiating component of the LoyalPlatform includes both audience base and knowledge. With an existing expertise in the eCommerce realm and audience from the parent company Appsolutely, the ongoing LoyalPlatform Token Generation Event associated with the release of LoyalCoin (LYL) has grossed over $8.6MN in the first month. Inclusive of iconic global names such as Starbucks, FoodMart, and havaianas the development is prepared for success. Other participating partners are available to view on their site at loyalcoin.io.
This new year, the app is available for download. The brand has employed developers to establish updates for common North American devices in addition to brands that are dominant in the Philippines and surrounding Asian countries. Palacios has announced the efforts to abide by North American laws in addition to European regulations to fully globally launch the platform. Come mid-2018, users can expect additional bonuses that have yet to be announced.
For more information on the Token Generation Event (TGE) visit loyalcoin.io.