Blockchain-based Reward Systems Are Here

Combining the worlds of digital currency and rewards are a great way to push mainstream adoption in the right direction.  HolyTransaction, a powerful platform known for its payment processing capabilities for various digital currencies, will be able to store RibbitRewards points in the very near future.  Blockchain-based rewards programs are one step closer to realization.

HolyTransaction and RibbitRewards Team UpHolyTransaction

There has never been a more exciting time to be involved with Bitcoin and blockchain technology than right now.  Being able to integrate rewards platform RibbitRewards with HolyTransaction’s API and platform is an exciting development for the digital currency community.  After all, the one thing digital currency seems to be lacking is rewards for customers who pay in Bitcoin or alternative coins.

HolyTransaction and Ribbit.me have been interacting with one another since 2014, and it has taken nearly a full year before an official partnership was agreed upon.  Forming a professional coalition takes time, and both parties look at this joint venture for the long-term, as they want to keep working together for many years to come.

RibbitRewards was the first-ever rewards platform that used blockchain technology.  In doing so, companies could easily recognize the loyalty of their customers by awarding points.  This entire principle is comparable to how Loyalty programs work but transformed into a digital form.

It is important to note that not all of the points generated through RibbitRewards are distributed among active and loyal customers.  A percentage of all points are donated to charitable organizations on a regular basis.  The partnership with HolyTransaction brings additional functionality to RibbitRewards, as they can now be exchanged to Bitcoin, Litecoin, Dogecoin, DASH, Blackcoin and Mastercoin.

Ribbit.me has been extensively using the HolyTransaction API over the last year, both in terms of payment processing and invoice generation.  Due to this partnership, Ribbit.me users can get a HolyTransaction account without hassle, and make life significantly easier for those users who already have a HolyTransaction account.

Last but not last, RibbitRewards users will be able to store, trade and sell their points through the HolyTransaction platform.  Overall, the user experience across both platformRibbitRewwardss will be improved, and future exciting experiences will be developed in the near future.  Additionally, blockchain technology adoption can only benefit from such partnerships.

The Future of Blockchain-based Reward Platforms

It is only a matter of time until blockchain-based reward systems become a mainstream trend in the Bitcoin ecosystem.  Customers need to be incentivized to spend Bitcoins, rather than to pay the exact same price as customers using credit cards would.  Merchants save on transaction fees, and part of that cost-cutting measure should reflect on the price paid by the consumer.

It will be interesting to see what HolyTransaction and RibbitRewards will come up with in the next few months and years.  Other companies will be exploring the space of blockchain-based reward systems as well, all of which can only be beneficial to the Bitcoin consumer.

Source: Press Release via Email

Images courtesy of HolyTransaction, RibbitRewards, Shutterstock