Swiss loyalty token protocol qiibee has announced a partnership with Chinese loyalty rewards solution, foodchains, according to Global Banking and Finance Review.
The Swiss company, based in the Crypto Valley city of Zug, known for working with global brands, is to link with foodchains in order to enhance the customer’s overall experience in the Chinese-owned restaurant chain.
As a by-product of the new partnership, blockchain-based cryptocurrency FAN is to become part of a new customer reward system, enabling diners to earn tokens each time they visit a foodchains outlet. A foodchains app will also give customers the opportunity to feedback or write a review, also earning them tokens by simply scanning a QR code.
Foodchains partner restaurants will also be involved in the blockchain project and be able to issue and accept tokens across the entire chain’s network of restaurants, including more than 60 independent Shanghai-based restaurants. Co-founder and CEO of the company Clement Lee explained the new project:
“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 program with near real-time transparency, resulting in cost savings that can be realized in the medium term.”
Another restaurant chain, Wheelys Cafe, a rapidly growing innovative bicycle cafe chain is also joining the network of restaurants. The organic coffee chain which originally launched in 2014 has enabled young people to start their own businesses and now boasts cafes in 73 countries.
From qiibee’s perspective, the partnership with the Chinese restaurant giant is a perfect fit, as the company sees great possibilities by coming in at the beginning of a new venture, as co-founder and CEO Gabriele Giancola explains:
“Foodchains’s business model is a perfect use case of the qiibee infrastructure, whereby a loyalty program is built from scratch… We want to help brands such as foodchains engage with blockchain technology… to make it a better and more seamless experience for both brands and their customers.”
Lee sees the loyalty program going viral in China, adding that the crypto space is “fast and furious”. He sees the partnership as an opportunity to expand the platform globally by drawing on foodchains’s restaurant experience supported by qiibee’s fintech prowess.
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