IT Giant Fujitsu Launches Blockchain Based Rewards System

Japanese IT giant Fujitsu published a press release today, on June 6, revealing the launch of a blockchain-based reward points system, which is aimed at innovating the retail industry. This is a blockchain-based data storage system, which will tokenize traditional retail promotional strategies. It will include coupons and loyalty points. According to the company the new system will “revitalize local economies by increasing consumers’ willingness to buy as well as improving data analysis methods in retail industries”.

With this service, users can collect digital points or stamps by reading QR codes located in specific areas with smart devices, and then exchange them for coupons and other benefits that can be used in stores… In addition, collection and usage data for the points, stamps, and coupons, which are recorded on the blockchain distributed ledger, can be linked with user information for analysis”, stated the official announcement by Fujitsu.

The company also expressed their strong belief that the new system will help attracting more users to specific promotional events. It will be also possible to influence consumer patterns when those are integrated into specific smart device applications.

The customers can now use the system in the form of an API. This means that no knowledge of a new ICT environment which specific to blockchain will be required from the customers.

Earlier in March, 2018, Fujitsu tested its new tokenized rewards system at Taiwan’s FamilyMart convenience stores. The project aimed to attract more customers by using the tech strategy which was based on blockchain technology.

This however is not the first interaction of the company with commercialized blockchain platforms. Back in August 2017 Fujitsu worked on enterprise-focused blockchain platform followed by further important partnership with IOTA. Earlier in March this year, Fujitsu also founded an international Blockchain Innovation Center in Brussels.

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