Future innovation in the world of blockchain technology lies just ahead, as more and more companies see the value of initiatives such as the Linux Foundation Hyperledger project. This collaborative effort to bring more use cases to the exciting world of blockchain technology welcomes Ribbit.me as their latest partner. This loyalty solutions startup will bring their expertise and development team to The Linux Foundation, which will spur future innovation in the distributed ledger industry.
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Hyperledger Project Welcomes Blockchain Startup
One thing consumers and shoppers all over the world seem to value are loyalty programs. The concept of this idea is very simple to explain: shop at your favorite store and get rewarded with points based on the amount you spent. This is a very simple way to improving customer loyalty while giving consumers the feeling they are being rewarded for spending money.
But there is one major problem with current loyalty programs: customers forget to spend their points for additional discounts and savings. Every individual store or chain has their own loyalty program with its own card, and consumers are struggling to keep up with which card has what balance. In the end, a lot of points – worth a lot of money – are unused, as they do not roll over to the next year in most cases.
Ribbit.me is one of the very few companies trying to tackle this problem by using the blockchain. Transparent reward systems which can be publicly verified without a card seem to be the way forward. Additionally, any company can integrate Ribbit.me into their platform, as the company offers their services to anyone and everyone.
Ribbit.me CEO Greg Simon stated:
“Ribbit.me is very excited to be part of such a prestigious and high-profile project as The Linux Foundation. It’s like a dream come true to be able to contribute to the Hyperledger project and to work with the level of players within the Foundation. We have much to offer, and believe that we will make our mark in contributing to the furthering of blockchain technology utility.”
Now that Ribbit.me joined The Linux Foundation’s Hyperledger Project; developers can start looking for ways to create more use cases for blockchain-based loyalty programs. By contributing their code and expertise to the Hyperledger Project, Ribbit.me will become a major player in the development of distributed ledger technology.
In fact, the company’s platform makes use of the Abstracted Value Consensus Protocol, based on smart contract technology. Such a solution could be invaluable for enterprise users and service providers looking to explore the world of blockchain technology.
Source; Press Release via Email
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