Blockchain

foodchains teams with qiibee for new loyalty programme

Customers who download the foodchains app will earn FAN tokens each time they make a purchase at participating restaurants by scanning a QR code, writing reviews about their dining experience, and other community-related actions.

“Small to medium-sized restaurants often struggle with traditional loyalty programs and reward systems as a result of their limited size and high integration costs. Blockchain technology allows us to streamline the execution and administration of our loyalty programme with near real-time transparency, resulting in cost savings that can be realised in the medium term,” says Clement Lee, Co-founder and CEO of foodchains.

The venture plans to roll-out its programme to Wheelys Cafe, a Y Combinator-backed bicycle cafe chain with more than 900 cafes in 73 countries, as well as to 60-plus independent Shanghai-based restaurants, with beta testing due to begin in India.

“Things are moving at a fast and furious pace in the cryptosphere. We believe that our experience in the restaurant sector and qiibee’s already proven expertise and proof-of-concept will allow us to rapidly deploy the platform on a global scale,” says Lee.

Co-founder and CEO of qiibee, Gabriele Giancola, comments: “foodchains’ business model is a perfect use case of the qiibee infrastructure, whereby a loyalty programme is built from scratch. We want to help brands such as foodchains engage with blockchain technology without the need for cost-intensive integration, and by making the loyalty landscape more efficient and user-friendly, we aim to make it a better and more seamless experience for both brands and their customers.”

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.

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