International Business Machines is working with a Chinese credit card company to to create a blockchain-based system for trading loyalty points.
In a proof-of-concept revealed today, IBM and China UnionPay have developed a platform that allows customers to trade points earned through purchases and other incentivized behavior with one another. It's a concept that can be applied to the exchange of frequent flyer miles, mobile phone bills or gas cards.
He Shuo, director of China UnionPay’s Electronic Payment Research Institute, described the demo in a statement as a “breakthrough” in the electronic payment industry.
http://www.coindesk.com/ibm-china-unionpay-blockchain-loyalty-exchange/
