Partnership to Scale Customer Loyalty Platform, Southeast Asia Incubator Lunch
Appsolutely, a blockchain omni-channel loyalty solution, has announced its partnership with NEM, the smart asset blockchain, in order to scale Appsolutely’s LoyalPlatform for fast, transferable and secure customer loyalty redemption. Operating at 4,000 transactions per second (TPS), the NEM blockchain high processing speeds that can now be leveraged for transactions involving LoyalCoin (LYL), the currency of the LoyalPlatform. This announcement comes before the launch of the LYC token generation event on the 11th of December, 2017.
Also revealed was the launch of the Appsolutely-NEM Blockchain Center, an incubator, accelerator and co-working space for blockchain start-ups in Southeast Asia. The new centre is designed to build a strong community that enables entrepreneurs to learn how to use blockchain technology to build services that solve business problems worldwide. The flagship location, located in Manila, is planned to open by end of 2017 or early Q1 of 2018. The centre is the first in a planned series of blockchain centres across Southeast Asia.
Patrick Palacios, founder and CEO of Appsolutely, Inc., stated: “The LoyalPlatform is designed to allow consumers to interact with brands across the globe anytime and anywhere, making speed vital to our success from day one. We consider NEM to be the leading player for blockchain solutions that can operate both safely and rapidly enough for the demands of international eCommerce. Therefore, we can’t think of a more ideal partner to bring our vision for a universal loyalty ecosystem to fruition.”
As a result of the partnership, LYL can now be purchased with and exchanged for XEM, the NEM blockchain’s standard currency, in addition to Ethereum (ETH). According to the terms of LYL’s token generation event, 50 LYL = 1 XEM/1 LYL = 0.02 XEM.
Head of NEM Philippines, Emerson Fonseca said: “Appsolutely is putting customer loyalty programs on the blockchain, a secure, tamper-proof database of all transactions, including rewards redemption and similar deals, powered by NEM technology. When a rewards program is on the NEM blockchain, redemption is faster, more secure, and easier to set up. It opens up more features that were previously impossible with traditional rewards. In addition, Appsolutely’s use of the NEM blockchain guarantees that they deliver transactions faster than just about every other rewards solution there, blockchain or otherwise.”
Palacios added: “Locally, we’re witnessing so much potential in blockchain-based projects and the highly motivated people behind them. We’re excited to be establishing an environment where knowledge and support are openly exchanged, and through which this fledgling and increasingly important corner of our tech scene can build its strength.”