Qiibee decentralises loyalty platforms

After changing their business model, qiibee was relaunched in 2015 to consolidate the loyalty market by centralizing an array of brands and merchants on one application which let customers earn and spend one single loyalty currency. The platform also rewarded users for activities such as engaging with brand-related-user-generated content. Launched in late 2016, the prototype  attracted 75,000 users and accumulated over 6 million interactions through its work with more than 900 local, national, and international brands; such as Subway, Burger King, and the Swiss Federal Railway.

Qiibee Co-Founder and CEO, Gabriele Giancola said: "The current loyalty system market faces major challenges, from high fragmentation and operational inefficiencies to concerns with centralization and data ownership. By creating a loyalty platform and a developer interface, we not only provide organizations and brands with the opportunity to tokenize their own applications but revolutionize the outdated market”.

The startup is now changing its course from providing modern day loyalty systems to cryptocurrency. qiibee is focusing on creating a decentralized, Ethereum infrastructure-based loyalty ecosystem by providing a loyalty platform and developer interface on which every loyalty application can be tokenized. This allows qiibee to bridge the gap between modern day loyalty systems and the cryptocurrency industry.

Applications built on the qiibee infrastructure benefit from increased data security, lower management costs, no liabilities compared to traditional loyalty models, and no resources needed for the development of smart contracts or the integration of a blockchain. qiibee users are exempt from a central data authority, receiving tokens with a real value instead of the traditional point system which provides users with the freedom to exchange these tokens within the qiibee ecosystem.

"We knew that the new solution for the loyalty market needed to be customisable for every company, decentralize all the data, have a real value instead of a point and connect all these loyalty programs and applications. This is why right now we are creating qiibee, a decentralized, blockchain-based loyalty ecosystem where all the data is decentralized on the blockchain. By accessing our developer kit and platform every company can easily decentralize and tokenize their loyalty program and in turn the whole ecosystem gets connected by the qiibee wallet, where customers can store all loyalty tokens earned and can exchange them with each other", added Giancola.

Token Generation Event 
Qiibee is now in the preparing to launch Token Generation Event (TGE) scheduled for later this year. The event will allow the startup to reach the full-potential of its project. The funds raised will be used to further develop their platform to enable program owners, companies, and developers to create their own customized loyalty program using the qiibee developer kit.

“The funds secured through our token generation event will fuel the creation and the development of our loyalty ecosystem, further assisting us in our mission to help program owners, companies, and developers to create their own customized loyalty program using the qiibee developer kit. With the potential to entirely disrupt the $300 billion loyalty market, we are opening up the crypto community to millions of mainstream users," concluded Giancola.

Last week, qibee received the public award at d10e Davos, a leading conference on decentralization, which was held for the first time Switzerland.

(RAN)