https://imgur.com/NT7aZPUAsset Token is the world’s first transferable rewards points ERC20-compliant token on the
Ethereum Network designed to enable financial institutions to quickly, easily and securely
manage loyalty programs. There are many advantages for both consumers and financial
institutions to adopt blockchain technology in a rewards points system, which we discuss in
depth in this document.
The most important benefit—for both consumers and financial institutions alike—is control and
freedom, which are really two sides of the same coin. That is: Asset Token provides all
participating parties with more control over how they accumulate, store and use a rewards
point program built on blockchain technology. And ultimately, this will provide both parties
with more freedom.
The rewards points industry is sizeable, but also wrought with various challenges, flaws, and
issues. By implementing a program based on blockchain, Asset Token is seeking to revolutionize
this industry and create a self-sustaining ecosystem that will grow in value for all participants
over time.
Why Rewards?The world of commercial banking is extremely competitive, and rewards points programs have
become a widespread methodology for attracting and retaining customers. Indeed, there are
more than 2.6 billion loyalty programs in the U.S., used by banks and credit card companies, but
also airlines, retailers, restaurants, and many, many other business sectors and consumers
appear to love these programs. Research conducted by the Deloitte Center for Financial
Services found that 80% of their survey respondents said that they are more likely to use a bank
that offers rewards; among the highly coveted millennial demographic 89% said the same thing.
Why blockchain technology?Blockchain technology is now quietly transforming how our society works. We say quietly
because, even though there has been a lot of media attention around blockchain technology,
specifically around Bitcoin, the technology still hasn’t reached a critical mass of users.
Nonetheless, a wide array of businesses and institutions are starting to adopt blockchain,
develop such disparate uses for it such as cryptocurrencies (the most widely known), but also
identity management, retail, trading virtual goods, real estate, electricity trading, and many
more.
It is likely that in the near future, consumers will be as comfortable using virtual wallets
as they are using their paper wallets and credit cards today.
All of the benefits of and challenges to rewards programs discussed above highlight the
opportunity to use blockchain technology to transform these programs. Financial institutions,
consumers, merchants, and others, can benefit from transparency, transferability, and security
that only blockchain technology offers.
Our Solution: Asset TokenAsset Token is the world’s first transferable rewards points ERC20-compliant token on the
Ethereum Network designed to enable financial institutions to quickly, easily and securely
manage loyalty programs. Asset Token provides a frictionless experience towards deploying a
secure and transparent rewards/loyalty program using the power of blockchain technology.
https://www.assettoken.io/
