Blockchain technology to Revolutionize the Gift Card Industry

The world is changing at a rapid pace. There’s an increase in demand for digital commerce, and many industries have started the shift towards a digital-first model. This tectonic shift on the way we do buy and consume has now been accelerated more than ever by the coronavirus pandemic.

Two factors are contributing highly towards this trend – fast and reliable internet infrastructure, and the rapid rise of internet-based payments. In fact, it is estimated that by 2021, $4.5 trillion of online sales will be processed annually through e-commerce.

But in this fast-paced environment two industries are still trying to catch up with times – the gift card and loyalty points industry. Both gift cards and loyalty points are huge industries and an important part of retail commerce. But these industries are old, and completely based on trust between different parties.

Blockchain to the rescue

Blockchain is a new technology that revolutionizes payments by maintaining a decentralized ledger. But the applications of Blockchain aren’t just limited to payments but rather any form of data-keeping. This makes blockchain a really disruptive technology in the gift card and loyalty point industry.

Tycoon69 International is one such company working on the application of blockchain in the gift cards and loyalty points industry. The company plans to build a base infrastructure using blockchain so other companies can create their own application on top of Tycoon69 International’s blockchain.

The infrastructure proposed by Tycoon69 International includes integrating a seamless rewards system that gives people the chance to receive promotions, earn cash back, and transact physical goods, such as physical gift cards, digitally in a modern and transparent setting using an open blockchain developed by Tycoon69 – The Tycoon Chain.

Using a decentralized third-party, like Tycoon69 International, e-commerce users will not be dependent on the policies of large brands and can transact with more freedom in a P2P fashion. Stefan Hostettler, Tycoon69 International’s Founder and CEO, is one of the first entrepreneurs to work on blockchain for gift cards.

Funding Tycoon69 International

A project like Tycoon69 International requires a substantial amount of funds and the team has decided to use crowdfunding to fund the company. The company’s coin sale is live and can be accessed by visiting their website.

If you are interested in learning more about Tycoon69 International and want to contribute to the project, visit https://tycoon69int.com/.

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.