Loyalty programs are an essential attribute of modern marketing. According to the Loyalty Report 2017, produced by customer engagement agency Bond in collaboration with VISA, loyalty program enrollment has grown by 31% over the last four years.

This marketing tool has proved its efficiency, but the research of this sphere has identified several problems. Customers are involved in dozens of loyalty programs and the variety of point systems, redemption options and bonuses makes it difficult to make full use of the participation.

The estimated amount of unredeemed reward points in the USA alone is about $100 billion. The breakthrough in the loyalty programs management is likely to come from the blockchain sphere. The Lakeba Group is already developing a promising solution in partnership with Mobecom.

The Lakeba Group specializes in commercializing innovation. This multinational company headquartered in Australia is successfully working in the sphere of bridging the gap between the blockchain technology and business.

Giuseppe Porcelli, CEO and Founder of the Lakeba Group, explained the current impact of the innovative technology on the work of the company:

“Blockchain developments guide much of our daily journey, particularly for our growing team of solution architects and blockchain developers. This allows us to regularly navigate new territory in the emerging technology sphere.”

The recent joint-venture of the Lakeba Group with Mobecom may open a whole new era for the loyalty programs.  Mobecom is a global technology company working in the sphere of customer engagement. The company is listed by the Australian Securities Exchange.

The joint venture agreement was concluded to develop a blockchain and cryptocurrency exchange platform for Mobecom’s digital rewards currency airBux. The new project is called AirCrypto Platform.

This platform will become a step forward the current loyalty programs: users of AirCrypto will be able to convert their cryptocurrency in the airBux currency which can be spent on goods and services in-store and in-app across airBux participating merchants. The simplicity of the new platform is not the only attraction for the customers. The first priority markets for the new project are Australia, Singapore and South Africa.

The development of AirCrypto Platform starts in July 2018 and will take about half a year. Lots of projects in the sphere of customer engagement suffer from the limited coverage. That does not seem to be the issue with the project of the Lakeba Group and Mobecom: the initial point is a network of 150,000 payment terminals and 50,000 merchant which gives customers lots of opportunities to make use of their loyalty program.

The role of blockchain in the financial sphere is widely discussed. All of its advantages are clearly applicable to the loyalty programs development. The main issue is the particular realization of the idea. The joint venture of the Lakeba Group and Mobecom is seen as one of the most promising projects of the kind in its region.

The two companies are the experts in their spheres with lots of examples of successful projects and strong customer base. The development of AirCrypto Platform is also strengthened by the participation of blockchain and cryptocurrency legal expert Piper Alderman.

The development of AirCrypto Platform may become a turning point for the future of customer engagement sphere. The benefits of the blockchain technology combined with the expertise in the customer engagement sphere have the potential to create a product that can rewrite the efficacy of loyalty programs.

The post The Lakeba Group Unites Efforts with Mobecom to Create the Loyalty Program of the Future appeared first on CoinSpeaker.

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