Bitcoin Forum

What is a Reward Program Cryptocurrency?

In the old days, you see restaurants provide dining points for their loyal customer base, airlines offer travel miles to their customers, gas station offer reward points to their customers.

But one big problem arise out of their reward programs.

Most of their customers do not cash them in or use them. Does it mean, that their corporate greed CEOs are rubbing their fingers together and wishing their customers to not cash them in? Some small business owners actually wish that their customers do no cash them in.

However, big business have bigger vision. They do want their customers to cash in their reward points or transfer those reward points to their friends, ect... It's a form of referral system in disguised. Those companies hope that their friends will use their services later on. They are building a brand in their friends' subconscious minds. But what if their customers just want to cash those points in for money so they can pay other expenses such as bills.

The solution is called Cryptocurrency Reward Program.

- Their customers can now trade those reward program cryptocurrency on an exchange for bitcoins, or other coins.
- They can cash them out into a desktop wallet and give to their friends, family members to use.

You will soon see a list of smart big businesses create their own cryptocurrency to use for that purpose.


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Feel free to comments below or list any companies you know that are currently taking advantage of this smart solution.

BitMiles (BTMi) is an example of a cryptocurrency reward program.

https://bitcointalk.org/index.php?topic=892298.0

Is it supported by any major airlines?

I think  a reward points program must have some features like in this Magento Reward Points (http://"http://www.magentocommerce.com/magento-connect/reward-points-9640.html") Extenion