Qiibee: Empowering Consumers and Fostering Symbiotic Relationships

Qiibee is a revolutionary blockchain-based loyalty ecosystem. It enables any company to build a blockchain application for the purpose of cross-brand reward redemption. The platform is already in operation and working with over 900 brands. Consumers gain transparency over their loyalty programs on the ecosystem.

partial image use from the Qiibee white paper

Ever wonder how much a corporation wastes on those often useless coupons attached to your receipt. Even if it is not much, what has driven them to be a regular course of business for all this time. Most loyalty programs fall far short of providing consumers with anything but superficial benefits. That is, until now.

Problems with Traditional Loyalty Systems

So what is the underlying problem with loyalty programs and why do they remain in existence today? As far as finding a fundamental flaw, it can be surmised in a single word, fragmented. Corporations compete for the sale of similar goods. While this sets prices, it limits the potential of distribution channels. Simply put, a large superstore can dictate transportation schedules for the purpose of moving products that have been sitting on its shelves for too long. Its regular consumers have passed these by for a reason. Thus, coerced purchases via loyalty points is not very powerful.

The importance of repeat customers to a business can be compared to a stock or the equipment used for production. Customers who return with their money are a predictable financial asset. For some businesses this is more important than others. Take the airline industry for example. It is not limited by roads, and hence, is instantly flexible in its product (flight route). Airliners move to their consumers. Just one fatal incident, followed by the inevitable bad press, and immediately other airliners are scooping up once loyal passengers along with their repeat income.

What Qiibee Brings to the World

Consumers are rewarded with useless points because the distribution of goods does not match the needs of local stores and their clientele. Any business model incorporating the idea that consumers will buy things they do not need, or desire, is flawed to the core. Qiibee’s approach toward maximizing reward programs encourages better distribution.

While there may be some initial excited over a new loyalty program, they are often dismissed by the general public. And yes, game theory is often involved that inherently encourages participation. However, to take advantage of conventional systems, a consumer would likely need a distribution channel of their own.

By connecting the world’s loyalty programs through Qiibee, consumers can redeem their previously useless rewards at a store which they have never before shopped. Products that would have otherwise remained on shelves would be sold to customers of another establishment, some of whom may even be from competitors. This is quite an intriguing concept. Doesn’t it seem like it could alter the business dynamic?

The Excitement over Frequent Flyer Programs

One industry that absolutely changed business dynamics was aviation. It was able to do this because it removes an important obstacle, roads. Blockchains also remove obstacles. Instead of a financial transactions based on credit ledgers being governed by a few in positions of centralized authority, it exchanges digital assets. Blockchains offers the opportunity for immutable, transparent, and decentralized ledgers. They are permanent and viewable by anyone. Decentralization adds to the empowerment of individuals. This is as much a benefit for consumers as it is for independent businesses. The blockchain is a means for getting what is needed more precisely. Qiibee makes loyalty programs tradeable so that loyalty points have a better chance of being used.

Logistics and Passenger Seat Miles

Not many people know that airliners do not take off unless a flight will be profitable. The concept of passenger seat miles is used to value the costs (fuel, salaries, maintenance, and other liabilities) involved in an individual seat. Frequent flyer rewards can be used to add incentives to filling off peak seating. This was the new logistics model.

Qiibee on Wings

So why would airlines want to risk loyal customers using their rewards on a foreign business network? For one thing, frequent flyer miles are very often held, doing nothing but growing a statistic. Sometimes tickets are purchased even when rewards are available for redemption. Qiibee on wings would encourage passengers to fly on-demand more since they won’t be limited to a single company routing schedule. Better yet, with Qiibee, loyalty points awarded while grocery shopping could be used for air travel and visa versa.

Loyalty is supposed to reward repeat consumption. Qiibee truly does. In supporting the use of loyalty points over holding them, Qiibee also rewards the best companies in a given sector! Amazing how business relationships are symbiotic. The prize winning farmer improves the desirability of the storefront which further improves the life of the consumer.

No longer will loyalty rewards be considered useless. Qiibee could help diminish the wrong type of advertising that attempt to push products. Producers will instead focus on meeting needs because the consumer will be empowered to choose.

Thanks to @OriginalWorks for the opportunity to compete in this contest sponsored by Qiibee. Learn more about the revolutionary loyalty program by reading the Qiibee white paper.

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