LoyaltyX launches new blockchain loyalty project with UNSW

The experimental agency has invited uni students to trial a new program set to to disrupt traditional loyalty programs

Experimental loyalty agency, LoyaltyX, and the University of NSW (UNSW) have partnered on an innovative blockchain loyalty research project, giving students an opportunity to earn ‘Ethercryptocurrency’ at the checkout of participating merchants simply by scanning a barcode in their digital wallet.

As part of the new ‘Unify Rewards’ program that goes live on trial today, UNSW students and staff can earn $5 of ‘Ether’ for every 10 transactions they make across 11 campus retailers, including Boost Juice and IGA.

The program claims to give members access to the Ethereum network-supported cryptocurrency, Ether, with no risk or investment required. The platform solution also leverages loyalty platform technology from Loyaltycorp, data capture technology from PicoLabs, and Honeywell scanners at checkout.

LoyaltyX chief design officer, Philip Shelper, described it as the first major advancement in loyalty program design since the frequent flyer programs launched in the early 1980s – and the potential is massive.

“Consumers are tiring of big loyalty programs that devalue points balances over time to boost their profits,” he said. “Cryptocurrency democratises the program design, with the value of the currency increasing as demand increases. Our project also allows members to own cryptocurrency without having to invest their own money, thus de-risking the experience.”

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,” he added. “Last month, the value of Ether rose by 30 per cent, 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.”

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.   

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu

 

Join the newsletter!

Error: Please check your email address.
Show Comments

Blog Posts

How to become the customer experience custodian

The number one objective enterprises give for embarking on a digital transformation is to improve customer experiences with new engagement models, according to IDC’s 2017 global study.

Fear not: It's only a robot

Every time I pass through the automated border controls at the Sydney airport I walk away with a feeling of exasperation on the one hand and relief on the other. Exasperation, because the face recognition technology inevitably always fails to recognise me. Relief, because we seem to be safely years away from the Orwellian reality of states controlling every aspect of our lives; something the media is keenly warning us against each day.

Dan Kalinski

CEO, iProspect Australia and New Zealand

To DMP or not to DMP?

There are plenty of brands that can benefit from plugging into a data management platform. But should you engage an agency to run one or bring it in-house?

Ben Willee and Richard Taylor

Spinach Advertising

I worked at Momentum when the transformation started way back in 2013 (not 2015 as stated in the article). It was a painfully slow and co...

Jay

How Momentum Energy has transformed its entire business to be customer-led

Read more

Another buzzword thoughtlessly latched onto, without any thought for the implications on the organisations that have to lumber through th...

Tired

Rolling out agile marketing at Deakin

Read more

Useful., also don’t miss out on these 5 features of Adobe Experience Cloud - Visit here > http://www.softcrylic.com/b...

Sunil Joseph

Adobe debuts Advertising Cloud, Experience Cloud

Read more

the systems that run these things are teachable just like a car, theres stuff still yet to come out to bring up the automation grade, b...

Magnus Robert Carl Wootton

Fear not: It's only a robot - Big data delivery - CMO Australia

Read more

Marin Software’s digital marketing solution as a short way of streamlining and finding a scalable solution...

Al Drazhev

How BizCover is boosting search advertising success

Read more

Latest Podcast

More podcasts

Sign in