LoyaltyX and University of NSW (UNSW) have partnered to launch a world-first blockchain loyalty research project in Australia, giving students an opportunity to earn Ether cryptocurrency at the checkout of participating merchants simply by scanning a barcode in their digital wallet.
UNSW students and staff can earn $5 of Ether for every ten transactions they make across eleven campus retailers, including Boost Juice and IGA, as part of the Unify Rewards program that goes live on trial today.
Ether is a cryptocurrency supported by the Ethereum network.
The revolutionary program will give members access to the dynamic frontier of cryptocurrency with no risk or investment required. It is the first major advancement in loyalty program design since frequent flyer programs launched in the early 80’s.
LoyaltyX MD Andrew Lowe said the project steps into uncharted territory to disrupt traditional loyalty points programs.
“This is the first time a loyalty program allows members to transact across multiple retailers and earn a popular cryptocurrency which fluctuates based on market forces. Last month, the value of Ether rose by 30%, so we’re excited to see how members respond to this type of loyalty currency vs traditional approaches such as points. We’re confident they’ll find it much more engaging, but the research will give us a more definitive answer,” he said.
UNSW students and staff have been invited to join the project, with registrations now closed. The project runs for the next six weeks, with regular updates posted on the Unify Rewards website, www.unifyrewards.com
The platform solution utilises loyalty platform technology from Loyaltycorp, data capture technology from PicoLabs, and Honeywell scanners at checkout. Consulting for design was provided by Bit Trade and Loyalty & Reward Co.
Research for the project will be conducted by Prof Ron van der Meyden, AProf Salil Kanhere of UNSW’s esteemed School of Computer Science and Engineering and Eric T. K. Lim from UNSW’s School of Business.
More information on Unify Rewards, including the research results from the study, can be found at www.unifyrewards.com
Philip Shelper is Chief Design Office & Co-Founder of LoyaltyX, an experimental loyalty agency and the program operator of Unify Rewards. He is also CEO & Founder of Loyalty & Reward Co, a leading loyalty management consulting agency.
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