The Asian countries are one of the most technology advanced countries in the world. They harness the blockchain technology in many ways using it for various problem solving solutions. Many of the big companies are trying hard to put out on the market that will set them on the map as innovators.
Fujitsu the Japanese IT giant has propelled their blockchain-based reward points system in hopes of innovating the retail market. This data storage system tokenizes the traditional retail promotional strategies such as coupons and loyalty points, as the company says will revitalize the local economies with an increasing number of consumers that are willing to buy, and also improve the data analysis methods in the retail industries.
By the official company statement of Fujitsu:
“With this service, users can collect digital points or stamps by reading QR codes located in specific areas with smart devices, and then exchange them for coupons and other benefits that can be used in stores. In addition, collection and usage data for the points, stamps, and coupons, which are recorded on the blockchain distributed ledger, can be linked with user information for analysis.”
In March this year, Fujitsu had tested their tokenized reward system at a Taiwan’s FamilyMart convenience stores. It was aimed at attracting more customers that using communication robots together with blockchain.
The company can see this new system called Fujitsu Intelligent Society Solution Blockchain Asset Service as a helping tool for attracting users to a specific promotional events and influence consumer patterns, particularly when integrated with smart device applications.