Blockchain-based loyalty system: feasibility testing

A loyalty program brings benefits to both companies and customers. In this paper, we consider the use of loyalty program integration in blockchain technology, one of the most promising advanced technologies, where trust is of prime significance and customer identification will no longer require a physical certificate. Based on the essential characteristics of the loyalty program, 4 possible approaches that integrate into a blockchain platform are identified. An analysis through several observations helps to determine the most suitable one to create a loyalty program that benefits all stakeholders. The performance of the proposed system related to the most suitable approach is evaluated according to the criteria that consider the feasibility of practical usability.