Blockchain's transformative role in loyalty programs

Loyalty programs stand as crucial tools for businesses in today's competitive landscape. Traditional models, however, grapple with issues such as fraud and scalability. Blockchain technology emerges as a transformative force, promising secure and transparent loyalty systems. Its integration poses challenges - transaction fees raise financial considerations and the decentralization of customer data sparks privacy concerns. Additionally, the technology's complexity may hinder consumer adoption. Meanwhile, loyalty programs stand as pivotal tools in shaping customer relationships, driving brand success and fostering sustained engagement. Delve into the core of their significance through key statistics that illuminate their impact on a global scale but you may ask, why, to those organisations bother offering loyalty programs? The answer is actually very simple - it is easier to sell a product or service to an existing client than it is to a new customer. Indeed, according to Podium.com,“44…