EZToken Rewards features in new book on Blockchain Loyalty

EZToken Rewards is proud to announce our program has been featured in the new book ‘Blockchain Loyalty: Disrupting loyalty and reinventing marketing using cryptocurrencies’ by Philip Shelper.

This is the first ever book on blockchain loyalty. It features an interview with Hoa Nguyen, the founder of EZToken Rewards, and rates EZToken Rewards as the most promising blockchain loyalty program in the world when compared against other programs.

Further support for EZToken Rewards has been provided on www.blockchainloyalty.io a global resource centre for blockchain loyalty.

Excerpts from the book about EZToken Rewards include:

EZPos Holdings, the owner of EZToken, has conducted research which determined that traditional solutions for customer loyalty programs are regressing due to a lack of user engagement and low customer incentives. They see the problems including low redemption rates, non-real time rewarding, high operational costs, account inactivity and low client retention.

EZPos is attempting to solve these issues by allowing members to earn at multiple retailers and consolidate their earnings into a single digital wallet. They then have full control over how they use their EZToken cryptotokens; redeem at the same retailer, other participating retailers or trade on EZToken’s own trading exchange.

EZPos cites their unique selling proposition as their dominant position in the Asian market where they have a network of over 12,000 retailers using their POS system, of which one third are already utilising their existing points-based functionality. If they convert most of these to EZToken, they will be in a strong position to build a very solid coalition blockchain loyalty program.

In late 2017 and early 2018, the EZToken ICO raised US$12 million, with the last round of their ICO raising $6 million in just 41 seconds.

I spoke with Hoa Nguyen, CEO of EZPos, soon after the successful completion of their ICO. Hoa is a second-generation retailer; his father owned a retail store which introduced him to the trade. Hoa founded two retail stores in Hanoi in 2009 but both failed to achieve profitability. Despite this, Hoa gained significant experience as a retailer and began to understand the problems that retailers face while creating a loyalty program to attract more customers. Hoa’s key insight was that the loyalty providers need to control the retailer’s POS if they want to successfully implement loyalty services. Inspired by this, Hoa closed his store and used his remaining savings to build his own Point of Sale software with a SaaS business model.

With an engineering degree in applied mathematics from Ecole Polytechnique, France, Hoa was quick to see the potential of blockchain. ‘It helped me understand the beautiful mathematic foundation in blockchain technology,’ he said. He had been studying peer to peer networks since 2004 and realised that by running a cryptocurrency over the top of his POS business he could transform the business into a two sided market (like Uber, Airbnb) in which one side is retailers and the other side is consumers.

Hoa strongly believes cryptocurrencies and tokens will replace points and miles as the dominant loyalty currency. His vision is a large, global network of retailers who reward members with EZToken, but all sell and accept major cryptocurrencies such as Bitcoin and Ether, thereby facilitating the mainstream adoption of cryptocurrency usage.

In comparing EZToken Rewards to other blockchain loyalty programs, the book says:

If EZToken are able to successfully convert a sizeable proportion of their existing retailer network to EZToken they’ll achieve a fantastic result. EZToken also intend to reward retail partners with cryptotokens. This may be an acquisition bonus for signing up new members or a simple join bonus for coming on board the program, and will certainly support their rapid expansion.

‘Blockchain Loyalty: Disrupting loyalty and reinventing marketing using cryptocurrencies’ by Philip Shelper can be purchased online and at all good bookstores. Click here for details

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