QIIBEE – Loyalty On The Blockchain

As the success and growth of blockchain-based cryptocurrency have proven, the future will witness a decentralized, efficient, and comprehensive global ecosystem. At this juncture, I would like to present Qiibee, a project banked on creating a loyalty protocol that provides a trustless, secure and provable manner for issuing loyalty tokens backed by a crypto asset across different blockchains.

Loyalty in itself is connected with high customer acquisition costs for the brands. Not only are loyalty programs expensive to set up, but it is difficult to attract new customers by means of a loyalty program. In general, customers are reluctant to sign up for a new loyalty program since the value added is not always immediately apparent and there is a vast amount of programs available.

Moreover, the loyalty landscape is characterized by low levels of engagement and redemption. Most of the time, customers collect the points but rarely redeem them. Against this background, it is difficult for brands to boost the level of activity with their programs.

Qiibee is creating a loyalty protocol that provides a trustless, secure and provable manner for issuing loyalty tokens backed by a crypto asset across different blockchains. The qiibee protocol provides a trustless, secure and provable manner for issuing loyalty tokens backed by a crypto asset across different blockchains. It also guarantees liquidity by allowing easy redemption, tradability and exit options. Qiibee provides an easy-to-connect means to start building loyalty programs on top of the qiibee protocol, an API that brands’s developers can use to easily communicate with the protocol and the blockchain. The alpha version is already live, and we’re always improving the API to deliver a smoother, more straight forward experience.

Our mission is to establish a loyalty ecosystem for hundreds of brands that service thousands of customers.

FEATURES OF QIIBEE PLATFORM

Decentralized loyalty apps

The qiibee wallet is one of the means by which loyal customers can interact with the LoyaltyToken Protocol. The qiibee wallet directly communicates with our API which talks to the protocol.

Software Development Kit (SDK)

The SDK streamlines and facilitates application development running on the LoyaltyToken Protocol, which saves the time, money, and extensive know-how required to build it from scratch. Loyalty program owners can focus on their businesses and their applications, while we support them with our SDK. The bigger the community maintaining and building on the qiibee protocol, the stronger qiibee’s loyalty ecosystem.

Qiibee’s LoyaltyToken Protocol

Our protocol provides a trustless, secure and provable manner for issuing loyalty tokens backed by a crypto asset across different blockchains. It also guarantees liquidity by allowing easy redemption, tradability and exit options.

Real-time information

Check the block explorer to see real-time information about the blockchain where your token lives and the latest transactions.

Analytics

Need some numbers? The dashboard’s analytics section provides all the important information about your LoyaltyToken: how many accounts hold your token, peak times for rewards, etc.

BENEFITS

There are four key benefits when considering the Loyalty Token Protocol from a brand perspective:

Reduced costs and risk.

Given that a brand’s program is built on the qiibee protocol, the set-up costs for a new program are very low. Customers are also responsible for their own wallets, so the risk of a massive data breach is mitigated.

Brands can “Plug & Play” with their loyalty program.

How does it work? In a first step, the brand’s marketing department sets the budget for the loyalty program, which needs to be converted into brand loyalty tokens. The qiibee protocol then creates the brand tokens and sends them to the brand. It is important to highlight that the brand still has full control of the interaction with the customer, for instance over its individual app’s interface. In addition, the brand can also determine exactly how it wants to reward its loyal customers and how it wants to configure the redemption process.

Increased level of engagement a brand can achieve.

It has full flexibility in the construction of its reward and redemption structure. The fluctuation of the brand’s token value in terms of FIAT also positively affects customer engagement, since customers are seemingly interested in the value of the tokens and are thereby incentivized to hold them for a longer period. On top of that, a brand can tap into a large loyalty community of existing customers on the qiibee ecosystem, which makes it easier to boost new loyalty programs and attain a wide customer reach.

Elimination of liabilities on the company’s balance sheet.

Since the tokens that it will give out are tradeable and have a “real” value rather than constituting a promise from the company to be delivered in the future, the tokens will not be accounted for as deferred revenue.

Customer Perspective

When looking at the customer perspective, there are again four key advantages of using qiibee for the collection of loyalty tokens:

Overview of all their loyalty tokens collected from different brands in the qiibee ecosystem. Customers can still use their favorite brands’ loyalty programs and interfaces and later import the collected tokens into one common place.

Transactions with their loyalty tokens. They can trade them with other customers in the ecosystem, send or receive tokens from others and participate in the different brands’ redemption offers.

All brand tokens are cryptocurrencies tied to the qiibee token (QBX), which will be publicly traded. This way, the brand tokens have a real value outside of the brand context.

Cash out. The qiibee ecosystem offers the customer the ability to sell loyalty tokens for FIAT or other cryptocurrencies via third party integrations.

The customers's perspective has four advantages using qiibee for the collection of loyalty tokens. These advantages are;

Transactions with their loyalty tokens.

They can trade them with other customers in the ecosystem, send or receive tokens from others and participate in the different brands’ redemption offers.

All brand tokens are cryptocurrencies tied to the qiibee token (QBX), which will be publicly traded. This way, the brand tokens have a real value outside of the brand context.

Cash out.

The qiibee ecosystem offers the customer the ability to sell loyalty tokens for FIAT or other cryptocurrencies via third party integrations.

TOKEN AND ICO DETAILS

Token : QBX
Price: 1 QBX = 0.071 USD
Platform : Ethereum
Accepting : ETH
Hard cap : 28,000,000 USD

ROAD MAP

2015 - 2016

Our journey started with our own off-chain loyalty app

35m Data sets created
100k Active users
6m Customer activities
900 Brand partners

2017

Made strategic decision to build loyalty on the blockchain based on learnings from off-chain app
Created smart contracts on Ethereum and published white paper

Q1 2018