Initial Research Results

With the completion of the Unify Rewards blockchain loyalty research project, participants were surveyed to measure how they found earning a cryptocurrency vs points as part of a loyalty program.

A full research paper is being written by the University of NSW and will be released in January 2018, but here are some of the interim results:

• Participants reported that Unify Rewards was more influential than their favourite loyalty program in motivating them to spend money with participating retailers
• Nearly 60% of participants spent more money that normal on Campus during the trial period
• 86% found earning a cryptocurrency more appealing than points as part of a loyalty program
• 80% will continue to find out more about cryptocurrencies as a result of the trial

The results indicate cryptocurrencies indeed do have the potential to be a viable and attractive substitute for points as part of loyalty programs. Interestingly, loyalty programs also have the ability to act as a mainstream conduit for introducing the mass market to cryptocurrencies by making access easy and earning low-risk (vs investing one’s own money).

A video detailing participants view on Unify Rewards was created to further promote the research:

Unify Rewards is supported by partners including Pico, Loyalty Corp, Honeywell, Loyalty & Reward Co and BitTrade.

Philip Shelper is Chief Design Officer & Co-Founder of LoyaltyX, an experimental loyalty agency and the program operator of Unify Rewards. He is also CEO & Founder of Loyalty & Reward Co, a leading loyalty management consulting agency.

Let’s connect! https://au.linkedin.com/in/philipshelper