At some point, we all have seen how airlines sell their reward miles to passenger and banks for years. Consumer’s purchase the reward miles in an effort to top up their frequent flier accounts. Like the way airlines sell reward miles, Giftz is a network that sells blockchain based crypto-points that can be used by any enterprise. Consumers can acquire the crypto-points and top up their Giftz accounts and Giftz cards. The crypto-points can be redeemed anywhere Visa cash is accepted. The tokenized network for loyalty points are open to consumers, merchants, loyalty token developer and traders.
Problem Giftz seeks to solve
The Giftz plans to solve problems experienced in the loyalty industry. Loyalty programs are out of reach and very expensive for most businesses. Consumers also find it difficult to use loyalty programs because they cannot be redeemed everywhere.
Giftz seeks to offer solutions for the Loyalty industry by introducing a loyalty rewards program for both small and mid-sized enterprises. Merchants can use the managed block coin program solution for its clients. Giftz can also help get liability off balance sheets around the world. It does so by distributing physical tokenized points to customers who receive digital assets in their wallets.
Benefits of Giftz
Giftz believes most loyalty programs will sooner or later move to the blockchain technology. The network is building a true community that supports this. They also see the future where smart contracts allow any loyalty token making it easy for users to create and trade securely on the network.
- Reduce cost: Giftz offers a blockchain based rewards program that reduces system management cost. The system uses smart contracts that help report tracked, secure and transparent transactions.
- Enabling a frictionless system: Through a decentralized, trustless technology solution, Giftz blockchain offers a platform for which users can the ability to access and manage their loyalty points in a frictionless manner.
- Creating unique business opportunities: Giftz is building an interlinked loyalty network and a large rewards program providers with well-developed programs that have unique opportunity to offer value-added services
The Giftz token sale commenced on November 24, 2017, and lasted for approximately 90 days. Approximately 50 million tokens were made available out of which 38 million tokens were held by the network and used for maintenance of itCoin, future merchant sales and liquidity pools.
Giftz is led by CEO and investor John Paukulis, Emilio Dies Barroso, investor and Linda Giambrone, investor and advisor.