Blockchain Will Transform Customer Loyalty Programs

For consumers juggling an array of complicated loyalty programs, blockchain could provide a way to instantly redeem and exchange multiple loyalty point currencies on a single platform. With only one “wallet” for points, consumers would not have to hunt up each program’s options, limitations, and redemption rules. While all loyalty programs are vulnerable to a blockchain revolution, the travel industry is perhaps the most at risk. Early adopters could benefit considerably, allowing companies to rapidly add and maintain loyalty partnerships without adding complexity to their programs. There’s a big opportunity for industry incumbents to capture the value of this technology and shape how it will affect their businesses – but only if they don’t wait too long.