link147 link148 link149 link150 link151 link152 link153 link154 link155 link156 link157 link158 link159 link160 link161 link162 link163 link164 link165 link166 link167 link168 link169 link170 link171 link172 link173 link174 link175 link176 link177 link178 link179 link180 link181 link182 link183 link184 link185 link186 link187 link188 link189 link190 link191 link192 link193 link194 link195 link196 link197 link198 link199 link200 link201 link202 link203 link204 link205 link206 link207 link208 link209 link210 link211 link212 link213 link214 link215 link216 link217 link218 link219 link220 link221 link222 link223 link224 link225 link226 link227 link228 link229 link230 link231 link232 link233 link234 link235 link236 link237 link238 link239 link240 link241 link242 link243 link244 link245 link246 link247 link248 link249 link250 link251 link252 link253 link254 link255 link256 link257 link258 link259 link260 link261 link262 link263 link264 link265 link266 link267 link268 link269 link270 link271 link272 link273 link274 link275 link276 link277 link278 link279 link280 link281 link282 link283 link284 link285 link286 link287 link288 link289 link290 link291 link292 link293

Bitcoin Blockchain to Help Collect Customers & Activate Consumption in Japan

Bitcoin Blockchain to Help Collect Customers & Activate Consumption in Japan

  

Bitcoin Blockchain to Help Collect Customers & Activate Consumption in Japan

Loyalty schemes are regular marketing tools used by businesses to retain customers. However, when the system of collecting benefits is complicated and is not well-thought-through, the customer is left unsatisfied. In Japan, many credit card companies are giving loyalty award points to the end-users as an incentive to use their cards. End-users can exchange the loyalty points for services or products they want.

The main drawback is that they need to go through complex steps on a website or call an operator. As a result, the liquidity of the loyalty point is quite low. This observation has brought Digital Garage to the idea of creating a new marketing solution that will simplify the monetization of loyalty points. And here is where the adaptation of the Blockchain worked perfectly to realize the idea.

Blockchain and digital currencies as a solution

According to Taro Watanabe, operating officer at Digital Garage, the company is building a real-time exchange system that enables end-users to use the loyalty points just like a currency based on the Blockchain technology in conjunction with Blockstream and one of three major credit card companies as well as their business partner Credit Saison.

Thus, end-users can instantly exchange their loyalty points into other digital value which can be used at any location. The same system can be used for regional currencies. It means that the Blockchain-based Digital Garage product can work globally and potentially everywhere digital currencies exist and are accepted.

  

A solution that DG Lab will implement with Blockchain

Digital Garage also has plans to develop a system that will release machine automated contracts — i.e. help the execution of contracts based on the regulations and business practices in Japan based on the Blockchain technology. As for loyalty support service, they intend to partner with major credit card companies, local governments as well as local shopping districts so that they will encourage their customers to use their exchange service which runs on top of Digital Garage platform.

Users can exchange loyalty points and/or local currencies for a service and/or a product at their choice in real-time which is not provided so far in Japan. In addition to that, they are already providing many payment methods provided by third-parties including Alipay, PayPal or other standard payment systems.

Bitcoin is the most secure digital currency

Digital Garage is confident that Bitcoin is the most secure digital currency at this point since it is based on the Blockchain technology which has yet to be tampered with since its invention. Taro Watanabe believes that public Blockchain technology based on Bitcoin will bring fundamental change to the financial business model.

He says to Cointelegraph:

“Public Blockchain technology based on Bitcoin has a strong capability for security and stability; we believe the current situation is a transitional period that needs more scaling in functionality. Bitcoin Core’s open source community is challenging this and proceeding with the development of the scaling function for uses other than virtual currency.”

In fact, Digital Garage has all the cards at hand to be a trigger in the development of Bitcoin usage and boost Blockchain in Japan. They plan to contribute to the Bitcoin Core open source community, expand the developer community first in Japan and then promote the idea of Blockchain as a social infrastructure through development and education.

Chuck Reynolds
Contributor

Alan Zibluk Markethive Founding Member