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Qiibee is getting access to Italy's most renowned brands

21.08.2018 15:56

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The Zug based blockchain startup qiibee has won Italy’s retail association, Confimprese, as its partner. Confimprese’s members include fast food giant KFC, coffee maker Lavazza, and the largest publishing house in Italy, Mondadori as well as Disney and Agip. Qiibee’s loyalty services have already been offered to Confimprese’s 300 members, with negotiations ongoing.

Confimprese is the leading Italian Retail Association, made up of modern trade companies with franchising and direct networks. The association has over 300 commercial brands. The association counts over 30,000 points of sale, 600,000 operators, and its member companies account for 16% of total retail turnover.

The association is aiming to boost and further develop the retail industry in Italy with the help of the Zug startup qiibee. The startup - with offices in Israel, USA and Indonesia - helps brands around the world run their loyalty programs on the blockchain.

It offers a qiibee Protocol, which enables businesses to issue real valued loyalty tokens that can be combined and traded. Reward and redemption transactions are stored on the blockchain and remove the central data authority. The protocol not only enhances security, it also allows customers to earn real value by enabling them to sell their loyalty tokens for other cryptocurrencies or fiat”.

The Swiss start-up and the Italian association have signed a partnership agreement allowing qiibee to offer its services to Confimprese’s members. Negotiations wit potential customers are already ongoing.

“Having worked in the retail industry for more than 20 years, I have witnessed industry challenges, opportunities, and trends that go hand-in-hand with running a business. What qiibee are doing is revolutionary, and I am convinced that this is the type of development that is necessary for the next generation of retail companies in Italy to evolve,” said Mario Resca, President of Confimprese.

“Within the qiibee ecosystem, customers will always have full control of, and transparency about, their loyalty programs and tokens. We want to offer Confimprese and its member brands the possibility of engaging with blockchain technology without the need for cost-intensive integration for brands or an upfront investment for customers,” said Gabriele Giancola Co-founder and CEO of qiibee.

(Press release/ran)

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