Welcome back, readers! Before we seek to understand what Qiibee is, I would like to explain first of all, what is a loyalty program? A loyalty program is a program which aims to reward existing users who buy from a specific brand and entice the users to come back for more by giving them reward points. Qiibee’s objective is to put all the brands who have the loyalty programs on the blockchain. Why Qiibee’s decision to put the loyalty program on the blockchain?

As quoted by Reuters,

Applications built on the qiibee infrastructure benefit from increased data security, lower management costs, no liabilities compared to traditional loyalty models, and no resources needed for the development of smart contracts or the integration of a blockchain.

I think this speaks volumes about the advantages of blockchain compared to other traditional methods of building the loyalty programs.

Use Case of Qiibee

Let me introduce a person named Sejuk. He likes to eat at Burger King and have a Steemit account. While reading the hot posts of Steemit, he stumbled upon a post on Qiibee and start to read it wholeheartedly. What struck him is that Burger King has a joint partnership with Qiibee in having a loyalty program on a blockchain. To add icing to the cake, Qiibee is currently organizing an airdrop event to all its Steemit users and outsiders which means that he can participate in both of the airdrops. For those new to cryptocurrency, an airdrop means free limited cryptocurrencies to users before it is released to the public.

When the Qiibee tokens have a value, Sejuk can exchange it with a Burger King Tokens for some value and redeem it for a free burger for instance. If he gets sick with eating Burger King and has a desire to eat Dunkin Donuts (Qiibee also work with this company), he can exchange the Burger King Tokens with the Dunkin Donuts Tokens to redeem some donuts for free! Sejuk can sell all his tokens on the Qiibee ecosystem for fiat currency like the US or Singapore dollars if he is in need of money. It is noted that all brand tokens are tied to Qiibee tokens (QBX) which means that the brand tokens have a value outside its brand context.

Qiibee App

The Qiibee app will take care of all transactions I had said in the previous paragraph and Sejuk will only need to have a single wallet to access all the loyalty programs present in the app.

This shows the level of interoperability present between the interfaces of the loyalty programs of Burger King and Dunkin Donuts. This is not limited to two companies but can be extended to Subway and Dominos and other companies which Qiibee might work on in the future.

The companies point of view

Of course, the advantage of using the Qiibee ecosystem does not end with the user’s perspective. As shown in the above photo, there are four reasons as to why companies will choose Qiibee as a platform for their loyalty programs. It can also be extended to companies even small ones as the company can build its brand on the Qiibee platform thus reducing the costs needed to maintain its loyalty program. The companies can also take advantage of the developer kit offered by Qiibee and it allows them for easy setup of the loyalty program on the blockchain.

Two Blockchains

Qiibee is currently running on two blockchains; one on Ethereum and the other one on a private blockchain also on Ethereum and they are synchronized. The reason is that Ethereum is not scalable at the moment and splitting the operations into two blockchains will ensure that high transaction speeds can be maintained on the private side.

Conclusion

Gabriele Giancola is the CEO and co-founded Qiibee with his brother Gianluca. With six years of experience in the loyalty sector, I believe Gabriele is the right man to lead the team in the right direction in building Qiibee. He also has an experienced team to back him up.

As we can see in the roadmap, Qiibee is now a working ecosystem with 35 million datasets created, 100 thousand active users, 6 million customer activities, 900 Brand partners. By the end of this year, Qiibee is going to add 15 more brands to the ecosystem thus helping the brands build their own loyalty programs.

With these facts in front of our eyes, I believed qiibee will empower brands to have their own loyalty programs which will be beneficial to both customers and companies.

I referred to the qiibee Website and the qiibee White Paper to write this article. The images used in this article are from the two sources mentioned.

Other references

• qiibee Telegram
• qiibee Medium
• qiibee Twitter
• qiibee Facebook
• qiibee Instagram
• qiibee Linkedin
• qiibee Google Plus

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