Ukrainian startup tokenisation loyalty programs

At a mitap in Kiev, Ukrainian developers announced the launch of a new Bonex blockchain service. The product will allow you to produce branded loyalty tokens and store bonuses from different companies in one application.

In a single network, merchants will be able to tokenize bonuses for customers. The Bonex native token will be the base currency of the platform. The site will also allow real-time audit of loyalty programs.

For customers, Bonex will launch an application resembling a multi-currency wallet with a simplified interface. All tokens of participating companies will be presented in it. This will save users from having to download several programs for each offer of merchants. In addition, users will be able to exchange and sell their coins.

Bonex will start as a centralized project. To implement the idea, the startup chose the Stellar blockchain due to the high speed of processing micropayments. Later, developers will transfer the project to EOS, where they will create a decentralized exchange with smart contracts for transactions with tokens.

According to the roadmap, at the end of November, a startup will present the MVP, and in the second quarter of 2019 – a beta version of the product.

"We want to give users the opportunity to get exactly those tokens and bonuses that they need, " said representatives of the startup.

Earlier, BlockchainJournal reported that American Express is testing the capabilities of the blockchain to manage loyalty programs.

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