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Are you tired of traditional loyalty programs with expiration dates and restrictions? Well, we have good news! There&#39;s a new solution in town: Crypto!They offer a more efficient and flexible way to earn and redeem rewards, making loyalty programs more exciting and rewarding for customers while providing a higher level of security and transparency.In this article, we&#39;ll show you how blockchain technology can revolutionize loyalty programs, providing increased security, streamlined reward processing, transparency, and liquidity. Get ready to discover a new world of loyalty rewards with the power of Web3!<h2 id="header-0">How Will Loyalty Programs Work With Crypto?</h2>Integrating cryptocurrencies into loyalty programs can work in several ways, depending on the specific program and companies&#39; goals.Rewards can be given to customers in the form of Bitcoin or Ethereum instead of traditional loyalty points or miles. This approach has been adopted by the fast-food giant Shake Shack. Customers who purchase Shake Shack items using the Cash App with a debit Cash Card get 15% cashback paid out in Bitcoins instead of dollars, which is utterly amazing for those who dream about owning Bitcoin.Another option is to combine the customer loyalty rewards with non-fungible tokens (NFT) collecting and other gamified elements, which are also an important part of the Web3 world. That’s exactly what Starbucks did with their loyalty points program. The well-known coffee chain has recently introduced a brand new Web3 extension to its Starbucks Rewards, which allows customers to participate in interactive Journeys to earn Journey Stamps in the form of Polygon-based NFTs.This new feature also enables users to earn Odyssey Points, which can be used to unlock new benefits and experiences in the future. These perks include virtual classes on how to make espresso martinis, exclusive events, and trips to Starbucks roasteries and coffee farms. They can also be used as simple trading points for buying your next Blackberry Cobbler Frappuccino from the nearest Starbucks.Companies can also create a new loyalty program entirely based on crypto, where customers can earn tokens or other types of coins for their purchases. They can then use these tokens to redeem rewards or other benefits, creating a whole new market of loyalty rewards. That’s exactly what a new blockchain start-up called <a href="https://flyapp.io/" rel="noopener noreferrer nofollow">Fly Air</a> intends to achieve. Their token, FLY, will be integrated into the Fly Air mobile app, which will allow customers to use the FLY token for booking flights and earning rewards. The rewards will be calculated in accordance with how much FLY will the customer spend on flights or any other purchase in their ecosystem.Then, their next step is to integrate with the already existing credit/debit card air miles programs to enable customers to earn rewards from their commercial travel as well, making Fly Air the best option for travelling both privately and commercially.So, for all those who aren’t willing to convert their crypto to fiat in order to pay for some flights and never receive any rewards, Fly Air would be the best option possible, as it wouldn&#39;t require many financial transactions.<h2 id="header-1">What Are The Advantages of Crypto In Loyalty Miles Programs?</h2>Integrating cryptocurrencies into loyalty miles programs offer several benefits for both companies and customers.Firstly, blockchain-powered loyalty programs provide a higher level of security than traditional loyalty programs. By storing customer data and rewards information on a decentralized network, customer information and rewards are protected by advanced encryption and distributed across a network of nodes, making it less vulnerable to cyberattacks and data breaches. Especially when we talk about applications like Fly Air, which are using one of the most secure and protected blockchains in the world Ethereum and its L2s.The same goes for Starbucks and Shake Shack, which are using Polygon and Bitcoin respectively.In addition, with traditional loyalty programs, customers often have to pay currency conversion fees when using their rewards in different countries. This is especially actual when we talk about flight rewards, as they are usually used in different countries.  With Bitcoin, Ethereum or FLY, however, customers can use their rewards across borders without worrying about currency conversion fees. In this case, you won’t need to worry if you have enough money to buy a burger from Burger King, you’ll just pay for it, end of story.The increased efficiency and speed when it comes to processing transactions is also a great advantage over the traditional reward system. Transactions made on blockchains like Polygon and Ethereum can be processed in real time, which reduces the time and effort required to manage and process rewards. Therefore, customers can receive their rewards more quickly, making the program more appealing and increasing customer satisfaction.Most importantly, by implementing blockchain-powered loyalty rewards, businesses like Starbucks and Fly Air can appeal to a major group of people that are only using digital assets. Attracting new customers has always been the primal goal of every company. Hence, the usage of crypto has a positive impact on their revenue and customer loyalty.Finally, using cryptocurrencies in loyalty miles programs can result in cost savings for companies. Digital assets can reduce transaction fees and administrative costs associated with managing traditional loyalty programs. They can also reduce the need for intermediaries in reward redemption, creating a more streamlined process for customers.All these advantages taken into one can only convince us that blockchain-powered loyalty miles programs are not only the best option for those who are solely using crypto but also for those who want a more secure, faster and cheaper way of using and keeping those rewards. This only makes Fly Air look like the best alternative on the market as it takes all these advantages into consideration when developing its blockchain application and its token – FLY.<h2 id="header-2">Closing Thoughts</h2>Cryptocurrencies have the potential to revolutionize loyalty miles programs, providing a more efficient, flexible, and secure system for earning and redeeming rewards. As the adoption of crypto continues to grow, we can expect to see more loyalty miles programs leveraging this technology to create innovative and compelling rewards programs that provide real value to customers.

How to Revolutionise Loyalty Programs with Crypto?

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2023년 2월 17일에 게재된 다른 기사

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