Blockchain Loyalty Program
Hello! I am a twenty year service-industry veteran. I have worked for casinos, bars, and restaurants from bartender to general manager. One thing that all of these business have in common is a demand for customers. In order to be successful, today's businesses must compete on so many levels, and retaining customers is key to a business' success.
To that end, I am creating a loyalty program that will operate solely on blockchain technology. Using IoT, bars, restaurants, or just about any retail outlet currently using or thinking of creating a customer loyalty program would be using blockchain technology. My initial focus will be on bars in my hometown of Louisville, Kentucky.
The goal of the project is to benefit both the business using the loyalty program and the potential customer. Each participating business will be a node that customers can mine for tokens that will be created and regulated by the businesses the tokens are used in as well as by supply and demand driven by the customer. Mining for these tokens would occur in the form of a customer purchasing a product (a beer, for example) with traditional funds or using the tokens they have earned or mined while visiting the establishment. Patrons are rewarded each time they visit an establishment, and they are further rewarded based on the purchases they make at the establishment.
From a social aspect, users of the program would be able to track, share, and earn rewards for accomplishing milestones within a business, or they can just check in and share their experience with others on the platform.
Businesses would be able to incentivize potential customers with this system in many ways, including running specials paid for exclusively by or discounted by using the currency created and earned at each establishment. Coin values would fluctuate and a market would be created that currently does not exist.
From there, businesses would be able to create new and exciting content using the platform. The possibilities are endless. Creating a loyalty program for bars in Louisville is just the beginning.