Latest news with #pointsystem
Forbes
24-06-2025
- Business
- Forbes
Loyalty Programs Are Broken — Blockchain Is The Solution
Loyalty programs For years, loyalty programs promised sustained customer relationships and revenue. Yet, anyone who's navigated labyrinthine redemption portals or seen points expire knows the truth: traditional loyalty programs are fundamentally broken. The flaws are clear. Engagement rates are shockingly low. A recent Capital One Shopping report indicates that while the average U.S. consumer is enrolled in 19 loyalty programs, active participation is only around 49%. This suggests nearly half of the memberships are dormant, failing their core purpose. Furthermore, industry estimates reveal hundreds of billions in unredeemed loyalty points globally, a stark testament to illiquid loyalty currencies and program inefficiencies. Consumers also face fragmented points systems that restrict redemption to a single brand, or limited, unappealing catalogs. Lack of transparency around point value and expiration breeds mistrust. Centralized systems result in low program interoperability, and high operational costs often erode the very profits they aim to boost. Beyond just active engagement, basic enrollment also presents a mixed picture. According to a recent Prosper Insights & Analytics survey, while overall participation in customer loyalty programs averages about 50% across all generations, there are significant differences. Boomers show the highest participation (approximately 58%), while Gen-Z has the lowest (about 45%). This generational disparity, combined with widespread low active engagement, exposes the limitations of fragmented, legacy systems. Prosper - Customer Loyalty Programs Blockchain: The Solution This is where blockchain technology emerges, not as a fleeting trend, but as a genuine fix for these systemic issues. By decentralizing loyalty programs, blockchain offers unparalleled transparency, flexibility, and security, cultivating an environment where loyalty can truly flourish. Imagine a future where your airline miles seamlessly convert into points for your daily coffee, a streaming service, or even become exchangeable for other digital assets. This is the core promise of blockchain-based loyalty: points become liquid, valuable digital assets that users genuinely use like money. Say goodbye to forgotten or unredeemable points. One of the most compelling aspects is enhanced transparency. Every transaction, from earning to redeeming, is immutably recorded on a distributed ledger. This eliminates doubts about hidden rules or point depreciation. For brands, this drastically reduces fraud, as all transactions are verifiable and tamper-proof. Blockchain's immutability ensures earned loyalty points are secure, fostering unprecedented trust. Crucially, blockchain's architecture can also deliver real-time, transparent data insights for brands without compromising user privacy. Instead of centralized PII storage, blockchain solutions can leverage anonymized or pseudonymized data. This provides aggregate behavioral patterns, allowing brands to understand customer preferences and tailor offers effectively, all while adhering to strict data protection regulations like GDPR. Gabriele Giancola, founder of qiibee, a pioneering blockchain loyalty solution, highlights this dual benefit. "The true value of blockchain for loyalty," Giancola states, "lies in its ability to empower both sides. Consumers gain instant points liquidity and flexibility over their earned value, while brands acquire real-time insights into customer behavior and campaign effectiveness, all within a privacy-preserving framework. It's a shift from fragmented silos to an interconnected, value-driven ecosystem where everyone thrives." Navigating Regulations and Adoption The path to widespread adoption involves addressing regulatory complexities and practical challenges. The evolving landscape for digital assets, particularly regarding their classification, demands meticulous consideration. Companies implementing blockchain loyalty must ensure compliance with relevant financial, consumer protection, and data privacy frameworks across various jurisdictions, often requiring specialized legal guidance. Moreover, mass adoption hinges on user-friendliness. Consumers prioritize seamless, rewarding experiences. This means intuitive interfaces, frictionless earning and redemption, and immediately evident benefits are paramount. Robust, scalable solutions are therefore essential for success. Giancola adds, "For blockchain loyalty to truly go mainstream, it must feel as effortless as a tap of a credit card but deliver value far beyond it. The underlying tech must be invisible; the benefits, undeniable." qiibee: A Real-World Blockchain Solution qiibee is actively bridging this gap. By providing a decentralized, enterprise-grade blockchain infrastructure, qiibee empowers brands to tokenize their loyalty points, transforming them into valuable digital assets. This fundamentally redefines the brand-consumer relationship. Here's how qiibee's blockchain-based solutions tackle common issues: Success Stories: Brands Leading the Charge Several prominent brands are already leveraging blockchain loyalty solutions, demonstrating tangible benefits and paving the way for broader adoption. Consider Miles & More, a leading airline loyalty program. Their exploration of blockchain-based loyalty signals a progressive approach to enhancing flexibility. Similarly, Moda Health has investigated how blockchain can revolutionize health and wellness incentives. These examples, though specific implementation details with qiibee are part of ongoing advancements, underscore a clear trend towards dynamic, blockchain-powered loyalty programs. Furthermore, innovative platforms like Starbucks Odyssey utilize NFTs as a loyalty mechanism, providing unique digital collectibles that unlock exclusive real-world experiences. Similarly, Nike's .SWOOSH platform integrates Web3 to forge a new dimension of brand interaction and loyalty through virtual products and digital experiences. These instances highlight a growing recognition: genuine loyalty in the digital era demands innovation, transparency, and a true transfer of value and ownership to the consumer. The Future of Loyalty The limitations of traditional loyalty programs are increasingly evident. Blockchain technology offers a robust, secure, and transparent framework to revitalize these programs, transforming them from mere discount schemes into dynamic, interconnected ecosystems of real value. For forward-thinking brands, embracing this shift is not just an option—it's an imperative for cultivating lasting customer relationships. The broken model of yesterday is yielding to the blockchain-powered solution of tomorrow, promising a more engaged, rewarded, and loyal customer base. For users the most compelling aspect, is actually that they points are more liquid and valuable because there is a higher program interoperability, means consumers have more options to earn, spend and convert their points This can be done, but is not the best use case. Storing all transactions related to the loyalty currencies by tokenising points, is actually the most valuable use case This is also how then brands can check in an anonymous way the earning and spending behavior of a certain wallet and understand the consumers better
CTV News
15-06-2025
- Politics
- CTV News
Points-based immigration system favours single PR applicants over married couples, experts say
Canada's points-based immigration system can give a slight boost to applicants who are single. To get an edge, some married permanent residency candidates are saying their spouse won't accompany them to score as many as 40 extra points out of a possible 600. Immigration lawyer Matthew Jeffery says the points system only benefits married applicants if their spouse is well-educated, proficient in English or French, and has the right work experience. 'However, if the spouse does not have these things, it can result in a lower score for the primary applicant,' Jeffery said. 'To avoid losing points as a result of a poorly qualified spouse, an applicant can list their spouse as non-accompanying. This means that they will not immigrate to Canada at the same time as the primary applicant, but will remain in the home country.' Calgary-based immigration consultant Mandeep Lidher describes the practice as fairly common. He says married applicants face a 'systemic disadvantage' under the current points system for skilled workers. 'This structural imbalance incentivizes the lawful use of the non-accompanying spouse option,' Lidher told 'This is a lawful and system-sanctioned pathway for applicants who may otherwise be disadvantaged by their spouse's limited language scores, education, or lack of Canadian work experience.' Instead of applying at the same time, it can therefore be beneficial for only one person to apply for permanent residency, then sponsor their spouse to accompany them later through family reunification channels. 'No, this is not manipulation,' Lidher explained. 'An applicant only breaches the law if they engage in misrepresentation … that is, by withholding their marital status or falsely declaring a spouse as non-accompanying, when they actually intend to immigrate together.' 'To game the system' Ottawa is aware of the practice and has warned some applicants about misrepresenting their situation. Lidher provided a copy of an April 2025 'procedural fairness letter' that was sent to a permanent residency applicant. In it, a Canadian immigration processing officer expressed 'serious concerns' over the married applicant declaring themselves unaccompanied, despite already living in Canada with their foreign spouse. 'It appears that you have decided to include your spouse as 'non-accompanying' to meet the minimum required score because you earn more points if you don't have a spouse or common-law partner or if they are not coming with you to Canada,' the officer wrote. 'It also appears you would not have met the minimum required score if your spouse was included in your application as an accompanying dependent.' Canada's points-based immigration system has become increasingly competitive, especially since Ottawa announced in October that it would reduce permanent residency targets by at least 20 per cent from 500,000 to 395,000 permanent residents in 2025, 380,000 in 2026 and 365,000 in 2027. The minimum number of points needed to be able to apply for permanent residency has been edging upwards. While numbers can fluctuate, the lowest-ranked candidate on June 12 under the Canadian experience stream had a total of 529 points – that's up from the 368-point cutoff recorded four years earlier on June 10, 2021. When someone applies to be considered for permanent residency through the Express Entry online system for skilled workers, profiles are scored through what's known as the Comprehensive Ranking System (CRS), which awards points based on factors like age, education, work experience and language skills. 'Canada's Express Entry system is designed to select skilled immigrants who will thrive, but honesty is paramount,' Toronto-based immigration consultant Kubeir Kamal told 'Declaring a spouse as non-accompanying, if such circumstances exist, is a valid option if done transparently, but actually misrepresenting marital status to game the system risks severe consequences, including application refusal and bans.' In a statement to a spokesperson from Immigration, Refugees and Citizenship Canada said the department is committed to protecting against fraud and misrepresentation. 'Misrepresentation includes providing false information or withholding information,' the IRCC spokesperson said. 'If a spouse is declared as not accompanying while the intent is for the spouse to come with the principal applicant, an officer may find that the applicant misrepresented themselves to get more CRS points.'
