Partner Highlight | LoyalCoin
Can you tell us about the LoyalCoin story?
LoyalCoin is the flagship project of Appsolutely, a loyalty and rewards solutions provider in the Philippines. With the growth of cryptocurrencies in 2017, our founder Patrick Palacios wanted to create a universal reward token that people can easily earn, redeem and transfer.
How does LoyalCoin work?
LoyalCoin is the medium of exchange and the reward earned whenever people purchase from partner merchants. LoyalCoin can also be redeemed for rewards like air miles and restaurant vouchers.
Why did you decide to use NEM?
Originally, we decided to use ETH as our platform but our previous CTO convinced us about the flexibility and transaction speed of NEM. NEM is easily programable as javascript and C+ developers can easily read the code and create a usable interface. The NEM community also assisted the growth of LoyalCoin as we have co-sponsored multiple events and were given the opportunity to present in events such as Consensus 2018.
What features of the NEM Blockchain/ Catapult are you guys using?
We are using the multi-signatory system to protect our exchange and storage wallets. We are excited for faster throughput and aggregated transactions to reduce fees that Catapult will bring.
What are you currently working on?
We are currently working on our Virtual Currency Exchange License with the Central Bank of the Philippines that will enable us to exchange LoyalCoin and other Cryptocurrencies into fiat currencies.
We are also working on our membership card “Pensionado Card” that allows users to do offline transactions and are granted access to exclusive deals such as a “Buy 1 Get 1 Free” Deal with GongCha Philippines.
How do people sign up/ use it?
You can order the Pensionado Card through Lazada and download our LoyalWallet app in the App Store or Play Store.
Check out Jason Lee’s interview with LoyalCoin Founder and CEO Patrick Palacios below!
About LoyalCoin
LoyalCoin is a blockchain-based customer loyalty rewards point. This means that LoyalCoin is a point you earn from brands that issue it as a form of loyalty reward. What’s different about this point is that it is built on the latest blockchain technology, making it possible to use your points on more than just redeeming rewards and perks from your favourite brands.
Stay connected with LoyalCoin:
Website | Facebook | Twitter | Telegram | Reddit | Instagram
About NEM Foundation
The NEM Foundation is registered in Singapore and is operating globally. It was launched to promote NEM’s blockchain technology worldwide, an out-of-the-box enterprise-grade blockchain platform which launched in March 2015. NEM has industry leading blockchain features that include: multisignature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.
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