How qiibee’s technology works

Have you ever wondered what is needed to run loyalty programs within the qiibee ecosystem? Then today’s your lucky day! We want to show you exactly how we make loyalty on the blockchain happen. Before we deep-dive into the workings of our tech, let’s start off with the basics: Our technology is comprised of 4 main components:

• The decentralized loyalty apps (DAPPs)
• Our Software Development Kit (SDK)
• The LoyaltyToken Protocol
• And our so-called Blockchain Plug&Play feature for brands.

Wonder what they are all about?

The DAPPs are the decentralized apps, brands can develop for their customers. On these apps, customers can conveniently track their loyalty tokens or even send and receive them from others. For this, the brands’ developers can easily connect to our API to create their app, but we’ll get to that later. Another important feature here is the qiibee wallet, which directly communicates with our aforementioned API, which in turn communicates with our protocol. We can describe the wallet as a “gateway” for customers to experience the entire qiibee ecosystem.

To support the brands in joining our ecosystem, we offer a Software Development Kit (SDK), which basically streamlines the token creation process. The API acts as the main component of our SDK and, more importantly, it connects the DAPPs and our LoyaltyToken Protocol. Apart from the API, our SDK features a dashboard, which is an application that wraps up all the functions available on the API and offers an interactive means to work with the API — think of it as the visual implementation of the API. On top of that, we offer documentation, tutorials and a support center for additional help to make the process a breeze.

Our protocol is crucial as it enables the communication between the public Ethereum chain and the loyalty blockchains. This is essential, as it allows for the brands to set up and run their loyalty programs on our ecosystem. Our protocol provides a secure and tamper-proof way of issuing loyalty tokens, which are backed by a digital asset, our QBX. It also provides liquidity by allowing easy redemption, tradability and exit options.

The Blockchain Plug&Play feature enables brands to set up their programs and launch their tokens with complete creative freedom over the configuration of the interaction with its customers — the brands can determine exactly how they want to reward customers and how to design the redemption process.

We have already briefly touched the topic of our blockchain infrastructure, which is made up of a public Ethereum chain and the loyalty blockchains.Our first loyalty blockchain implementation is an Ethereum-based private blockchain, which provides and ensures high-speed transactions for low fees. However, we are already working on migrating the private onto a public permissioned blockchain, which will have a Proof-of-Authority consensus algorithm (until there is a stable version of the Proof-of-Stake).

We know, we know, that has been a lot of tech talk but we hope you guys enjoyed our little excursion into qiibee’s tech set-up.

Feel free to hit us up if there are any burning questions to be answered! :)

Disclaimer: All of the information presented in this blog post is tentative and is subject to change at any time. None of the information herein should be construed as legal, accounting, or investment advice of any kind. This blog post does not represent a solicitation for investment, nor does it represent an offering or sale, public or private, of any kind of financial instrument, security or otherwise, in any jurisdiction. This blog post is provided as-is, for informational purposes only, with the intention of describing a prospective software system.