The last few years have seen blockchain technologies grow at an unprecedented rate. While many industry analysts speculate as to the long-term effects of blockchain, no one is certain.
One company, Loyyal, is making a name for itself in the industry by working to apply blockchain technologies to enhance loyalty programs.
Recently, Loyyal announced the launch of version 1.0 of the Loyyal Product Suite, a new packaging of the company’s Blockchain-as-a-service. The product suite introduces a wide range of customer benefits including significant improvements in transaction performance, security, scalability, and network resiliency.
"An advantage of Loyyal's four years in the market, being one of the earliest commercial blockchain applications, is the invaluable real-world feedback we receive from our clients" said Greg Simon, CEO and Founder of Loyyal Corporation. "This release brings even more of the power of this exciting new technology to providers of loyalty and incentive programs, and in turn will accelerate new benefits for their members."
One of the main features to the new product suite is the implementation of Node-to-Node sharing of transactions across Loyyal's network. With this, members of the company can easily transfer points or miles between participating programs.
"This continued evolution of Loyyal's technology and how it leverages the power of Hyperledger Fabric is precisely what we see large scale enterprise clients needing at this time, as blockchain technology continues to becomes a mainstream part of their IT infrastructure," said Brian Behlendorf, Executive Director, Hyperledger. "The loyalty and incentives use case is perfectly suited to the benefits delivered by a scalable, interoperable distributed ledger."
The primary focus of the Loyyal’s new Product Suite is to provide enhancements in security, performance, data resiliency, and network scalability. With these enhancements, they hope to meet the requirements of larger and more security conscious programs.