American Express to Use Blockchain for Loyalty Program

Program will allow merchants to reward customers for purchasing specific items at their stores
24 May 2018   1582

The international payment giant American Express (AmEx), in partnership with the Hyperledger consortium and the online retailer Boxed, integrates distributed ledger technology into its customer loyalty program. This is reported by AP News.

According to AmEx representatives, Hyperledger technology allows merchants to create various reward programs. The latter, in particular, allow to reward American Express cardholders for purchasing goods in partner networks of stores.

Also, the project participants note that the program implemented in partnership with Boxed allows customers to earn five times as many loyalty points as usual. The new technological solution allows commercial firms to increase the involvement of their AmEx cardholder customers by offering products tailored for them, as well as regulating the reward structure.

AmEx partners have the right to independently choose products for which they would like to increase demand through a compensation program. The only exception is firearms, tobacco and alcohol products. American Express, in turn, reserves the right to independently choose the promoted brands.

According to representatives of American Express, a full version of the new blockchain system can be launched in the coming weeks.

Hyperledger Certified China Army Associated Company

American Accenture, Chainyard and IBM and Chinese Beijing PeerSafe Technology and Ant Financial received certificates under HCSP program
19 November 2019   257

Among the first five certified service providers of the Hyperledger blockchain consortium was a company from Beijing, which cooperates with the People’s Liberation Army of China, CoinDesk reports.

According to the Hyperledger Certified Service Provider (HCSP) program launched earlier this month, the consortium certified the American companies Accenture, Chainyard and IBM, as well as the Chinese Beijing PeerSafe Technology and Ant Financial.

Status allows them to provide services to enterprises implementing Hyperledger technologies.

Earlier, Beijing PeerSafe Technology attracted funding from the Shanghai Civil Military Integration Development Fund. This organization invests in dual-use technologies that are used for both civilian and military purposes.

Peersafe claims to be the only Chinese company to receive three state-established qualifications. Among them are permits for the sale to the Ministry of Public Security of the PRC of information protection products and software supplies for central government agencies.