Consulting, technology and outsourcing services provider, ascr has announced an alliance with ascribe GmbH to develop a blockchain database solution built on BigchainDB, for a rewards and loyalty system for consumer banking that tracks processed transactions in real-time. The blockchain database will enable banks to offer consumers the ability to combine loyalty points from various programs and use them in real-time for redemption.
As part of the alliance, Capgemini will coordinate its financial services, consulting and digital technology expertise in BigchainDB to design and develop a loyalty and rewards system. The blockchain database solution will provide flexibility on offering a reward system that is cost-efficient and secure, while providing consumers the ability to use rewards across multiple merchants.
Bruce Pon, CEO of BigchainDB, commented:
“The world wants prototypes and use cases for blockchain technologies. Working with Capgemini, we’re going to develop multiple proof-of-concepts that are immediately applicable to the real-world.”
Previously, Capgemini‘s has also announced the expansion of its blockchain practice, to develop digital frameworks and prototypes and build a blockchain ecosystem. The company is collaborating with some of the world’s prominent financial services organizations to help them leverage blockchain technology. The ascribe alliance enables Capgemini to execute demonstrations for its retail banking clients and deliver on this goal.
Sankar Krishnan, Vice President, Financial Services at Capgemini, remarked:
“The potential of blockchain technology to enable a better customer experience is considerable and Capgemini and ascribe are excited to be part of this transformation. For loyalty rewards programs, a blockchain-based solution could enable a real-time, localized view of data for both merchants and consumers, providing opportunities for new rewards programs for consumers as well as the potential for improved management of assets and resources for merchants.”