LoyalCoin


Overview

Token LYL
Opens 12/11/2017
Closes 10/1/2018
Summary LoyalCoin (LYL) replaces traditional customer loyalty programs with a flexible, fully transferable token that can be used to redeem rewards from any participating brand, anytime, anywhere.

Description

Building on our expertise in loyalty and rewards programs, we are launching a new, unified customer loyalty ecosystem that uses blockchain technology as the backbone and the LoyalCoin digital asset as the medium of exchange. With these innovations, we are eliminating the customer loyalty programs’ limitations we currently encounter, such as public confusion about the different mechanics of each loyalty program, difficulties in points exchange, lack of user engagement, and more. Removing these problems will accelerate the formation of a more cohesive, cooperative, and competitive customer loyalty industry. The launch of LoyalCoin will involve commitments from entities who will have the digital asset and use it for consumption, operational, and/or other purposes. Participants in this new ecosystem will drive the new loyalty economy with their activities and financial support for the scaling of our platform. For instance, in the consumption-driven emerging economies in Asia, the spread of a unified, proactive customer loyalty system can usher in more customer retention for companies, who will then boost their top and bottom lines. Mass adoption and economic activity from this dynamic loyalty environment will be the engine that can add value to each LoyalCoin. Simply put, by replacing the limited reward points in the current customer loyalty setup with a blockchain-backed dynamic currency that supports increased participation between customer and brand, we can unlock the full potential of rewards programs and increased value for participants in this revamped loyalty ecosystem. In the succeeding parts of this whitepaper, we will illustrate the roles that our company, the technology, and the digital asset will play in this new ecosystem, as well as the value proposition of LoyalCoin as an important part of building the new loyalty economy we envision.

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