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Industry

Retail

Blockchain for Every Industry

Lambda256 supports businesses in every industry to adopt blockchain technology and digital assets.

Retail

Blockchain ensures trust among different entities and enables flexible collaboration between them. To be more specific, you can build a new point system with maximized customer value or guarantee the quality of product with trust and transparency.

Loyalty Program

These days, most people have signed up at least more than three customer loyalty programs. However, these flooding loyalty programs may be a nuisance to some customers. In the case of products with low purchasing frequency, it takes too much time to gather enough amount of points to use for customers to actually feel its utility. Even if a customer collects a considerable amount of points, the points may get expired before the customer finds somewhere to use the point. What if the customer can earn some point by buying the product A, earn some more by using service B or purchasing another product C, and use them altogether?

Warranty

Managing every single warranty document is a hassle for users. Companies that issue product warranties often spend more money on processing and managing product guarantees than actually providing repair service. It takes a lot of time and effort to detect fraudulent claims, identify counterfeit products, and determine the scope of warranty coverage. Besides, companies need to manage various participants, including vendors and sales channels, throughout the warranty management process. Product warranty on blockchain can be an innovative solution. It is much more transparent and reliable when information about the product during the entire lifecycle is written on the blockchain. Businesses can prevent fraudulent claims in a faster, simpler, and more proactive way while drastically reducing costs. Besides, it’s easy to figure out what’s going on with the warranty on the products sold, and what’s causing the problem. Customers will experience more satisfactory service without the risk of losing warranty documents. Also, customers can sell used products with the appreciated value from the remaining warranty period.

Blockchain Loyalty Point Solution

Lambda256 provides blockchain-based loyalty point SaaS. Companies can issue new blockchain-based points or convert existing point systems to loyalty points on the blockchain network. Companies can get access to detailed data on the lifecycle of these points – how points were issued and where they were used.

Businesses can flexibly expand the scope of collaboration with blockchain

Low utilization and customer satisfaction of loyalty programs are also issues to tackle for businesses. Integrating different point systems can be a solution. However, it takes a lot of time and effort to connect different legacy systems, and it’s also hard to completely trust other companies even after they invested a lot of time and money to build the integrated system. With blockchain, we can build zero trust among participants and easily give rewards to customers in a more intuitive way. Getting on board on the blockchain-based loyalty programs, customers can own loyalty points on blockchain network with higher usability and value. They can also easily transfer the points to others, and even convert those to other type of loyalty points. Businesses with loyalty programs can expand partnership and collaboration through consortium blockchain without the need for complex accounting, settlement and system integration with participants.

Lifestyle Consortium

Lambda256 helps companies in highly interrelated industries to form a flexible consortium to integrate their loyalty point systems on a blockchain network. Companies can form a consortium with highly synergistic companies to gain access to new target customers and lock in existing customers. Representative cases are Mil.K Alliance in the travel/leisure industry and HAU Alliance in the healthcare industry. Lambda256 will continuously expand similar consortiums in daily-life-related areas.

Case. Mil.K Alliance

Mil.K Alliance is a project that enables the exchange and integration of different types of loyalty points of customers in the travel/leisure area. Customers can convert points they have into ‘Mil.K coin’ on the Mil.k platform. Until now, Yanolja, Seoul Airport Limousine, Delivery Car, Shinsegae Duty-Free are participating in the alliance.

Case. HAU Alliance

HAU, an alliance led by the pharmaceutical company Chong Kun Dang Holdings, enables leading companies in the healthcare industry to share potential customers, increase customer loyalty through integrated point benefits, and derive customer insights from data.

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