Blockchain-oriented projects are crawling out of the woodwork as we speak. Digitalbits wants to introduce a brand-new loyalty and reward program supported by this innovative technology. It is evidentÂ that current loyalty systems face some big problems whichÂ will not be all that easy to solve.
The Purpose of Digitalbits
Digitalbits wants to make a positive impact on the customer loyalty and rewards industry in the future. The system currently in place lets people collect rewards, yet most ofÂ them go unused because it is not convenient to keep tabs on these things. Retailers are dealing with issues in this regard, and customers are not too happy about missing out on reward-based opportunities.
How Does it all Work?
Solving the problems inherent inÂ current loyalty programs will not be easy. Introducing a decentralized and transparentÂ platform is a positive step in the right direction. Rather than relying on intermediaries to manage the loyalty rewards issued by retailers to customers, the intermediary is removed from the equation altogether.
Indeed, Digitalbits aims to make all loyalty points 100% portable. The platform will be open to anyone and everyone around the world, which will certainly make it rather appealing to a lot of companies. With no costly intermediaries to deal with, the transfer of value from retailers to consumers will become simplified and a lot cheaper.
Powering all of this is the Digitalbits blockchain, which can perform cross-asset transfers of value. Moreover, everyone can create new digital tokens which can be transferred on the network at minimal cost. All of these tokens can be exchanged for all other tokens issued on this blockchain through this ecosystem’s native asset.Â
The Digitalbits Currency
As one would expect, Digitalbits has its own currency, which goes by the name Digitalbits. This asset is used to perform cross-asset transfers of value, allowing users to exchangeÂ various tokens on-chain without the need for intermediaries. It is unclear if additional use cases will come to this currency, but for now,Â its primary use case seems more than sufficient.
The Road Ahead
There doesn’t appear to be any official roadmap for Digitalbits right now. With the developers working hard on building their blockchain infrastructure, it is evident that more news will be announced once there is something worth talking about. When the next cycle of development will occur is a bit unclear as of right now.