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Bitsoko launches bits loyalty program to encourage uptake of blockchain technology in Kenya

Milcah Lukhanyu by Milcah Lukhanyu
4 years ago
in Tech
4 min read
0
Bitcoin is a digital currency

Bitcoin is a digital currency

 Bitsoko, a Kenyan company which seeks to grow the mobile payment platform via integration of the blockchain technology to mobile money in view of supporting nano and micro transactions, has introduced Bits loyalty; a new customer loyalty rewards platform premised on the blockchain.

This will allow small, medium and large scale merchants to reward customers with bits tokens. The tokens aren’t specific to a merchant but can be acquired and redeemed at any participating merchant. The tokens have a fluctuating exchange rate determined by Etherium, the second most valuable cryptocurrency.

“It’s one of the ways of getting cryptocurrency to the masses. People have been asking how they can get bitcoins & it’s alternatives & now with this, they now have an opportunity to do so,” Frank Deya, co-founder Bitsoko told TechMoran. “Bits is the future of customer loyalty rewards.”

Bits is less like a traditional loyalty rewards program on a blockchain and more like a new paradigm entirely for loyalty rewards. It is basically enabling access to cryptocurrency to customers of any merchant store, anywhere.

This is how it works:

Digital Asset

Bits is a digital asset, just like Bitcoin, which is enabled by the blockchain – an open, global, secure, distributed ledger.

Plug-in

Our plug-in allows you to build and manage a powerful loyalty reward program from within your existing platform so you can issue Bits as reward for purchases and accept it in redemption for future purchases.

Mobile App

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Customers receive their rewards in a mobile app that connects their wallet to your products, offers and promotions, which can be purchased in-app, online or in person. Because Bits is a digital asset reward, merchants can outsource infrastructure costs and liabilities to the blockchain, while the consumer is rewarded instantly, with an incentive that has intrinsic value.

READ  Samsung Galaxy J7+ full specifications and price

Bitsoko received $100,000.00 in funding from the Bill & Melinda Gates’ Grand Challenges Explorations which funds individuals exploring ways to solve persistent global health…

 

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Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

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