Technology

Loyyal broadens IP portfolio with latest patent in South Korea.

Loyyal, a blockchain based enterprise loyalty solution, now has an Intellectual Property patent in South Korea. The patent is for Distributed Ledger Protocol to Incentivise Transactional and Non-Transactional Commerce.

The Loyyal platform leverages blockchain technology to help companies with large, expensive legacy loyalty platforms to efficiently onboard new earn and redemption partners, streamline reconciliation and settlement processes and simplify data sharing among partners without the need to replace any existing platforms, reducing IT time, effort and costs.

Greg Simon, CEO and Founder of Loyyal comments on their expansion of the global Loyyal IP portfolio:

“We are pleased to secure this strategically important patent grant from the Intellectual Property Office of Korea as a part of Loyyal’s broader, long term global patent strategy. Korea has a strong and growing market for enterprise-use blockchain applications. Specifically, the loyalty application is already live amongst Korean financial institutions. We are excited about the new opportunities and partnerships this opens for Loyyal in Korea, and across Asia.”

Loyyal’s growing list of worldwide patents now covers over eight territories globally, including Japan and Singapore where a pilot with Emirates and Star Alliance is already successfully underway.

More patents in more countries just more firmly establishes Loyyal as the clear and continuing industry leader as they reinvent how loyalty is created, rewarded and managed more efficiently with blockchain.

To read more about how enterprise blockchain loyalty solutions work, and see a visual of the Loyyal tech stack published in the second edition of Blockchain Loyalty follow the link.

Stacey Lyons is the Marketing Director at Loyalty & Reward Co, a leading loyalty management consulting agency based in Sydney. Stacey has years of experience within loyalty, marketing and eCommerce across multiple channels and business models. Most recently, Stacey has been managing the investor, member and retailer communications for blockchain loyalty company EZToken Rewards.

Stacey is a proud pioneer of women in blockchain and regularly contributes to www.blockchainloyalty.io global resource centre for everything blockchain loyalty. Let’s connect! LinkedIn, Twitter

Samsung Galaxy S10 may come with a native cryptocurrency wallet

Even though the cryptocurrency trading market remains in a persistent bear market for the past year, Samsung has indicated it may feature a cryptocurrency wallet in its Galaxy S10 flagship smart phone.

Reports suggest that it will be integrated through Samsung Pay, which is its flagship digital payments platform.

Samsung Pay has more than 10 million users in South Korea alone, who utilise the app to settle day-to-day payments. It dominates the country’s digital payment sector, partly due to its $200 million acquisition of LoopPay which allowed Samsung Pay to use its magnetic secure transmission (MST) technology, an alternative to NFC that is used by Apple Pay and KakaoPay.

Although Samsung has not released an official statement regarding the rumours of a potential crypto wallet launch, it absolutely makes sense:

  • The innovation will support the mainstream adoption of cryptocurrencies, not only in the Korean market, but at a global level.
  • Samsung will boost its appeal to millennial users who perceive cryptocurrencies as an efficient and alternative means of payment method over traditional systems.
  • Cryptocurrency users will benefit from a native app that prioritizes security vs downloading unknown apps from a less trusted source.

Of course, if Samsung Pay is involved, my expectation is that in time, users will be able to not only securely store their crypto, but also seamlessly pay with it at any location where Samsung Pay is accepted. Therefore, industry experts foresee a significant improvement in the infrastructure supporting cryptocurrencies.

Now, that’s big news indeed.

Max Savransky is Loyalty Director of Loyalty & Reward Co, a leading loyalty consulting firm based in Sydney. He has 10 years’ experience within the loyalty industry including roles at Mastercard Loyalty (Pinpoint), Silverneedle (Next & Sage Hotels) and Pureprofile. As Loyalty & CRM Manager at HOYTS, he launched the highly successful partnership with Qantas Frequent Flyer, including a world-first Qantas Points in-store redemption proposition. He is an active cryptocurrency trader.

Max regularly contributes to www.blockchainloyalty.io, a global resource centre for everything blockchain loyalty.