Pureprofile partners with local Australian blockchain company Brontech
The vision of Pureprofile (back in the Paul Chan days) was to give the power of individual data back to the person who owned said data, instead of the multitude of online companies that collected and then sold it; the underlying essence of blockchain loyalty and blockchain marketing.
The company aimed to develop its platform to facilitate the collection of PII via surveys and store this data against the individual consumer profile, with the end goal being to allow brands to market directly to consumers who had expressed an interest in their products or services or showed intent to buy.
This concept was conceived by Paul in the early 2000’s, well ahead of market readiness for such a program, which was why it was challenging to gain traction to make this a reality.
The 2015 IPO had the share price at 50c; since then, the shares have lost about 80% of their value (currently sitting at 11c) due to numerous factors, one of which, IMO, was the inability to effectively deliver to their vision.
Fast forward to 2018; with blockchain now making that two-way exchange between brand and consumer much simpler, Pureprofile, with Nic Jones at the helm, has taken steps to establish partnerships with a view to building on this vision and restoring investor confidence.
Their position is that their new partner Brontech (Bron Rewards), an Australian based blockchain data company, should help facilitate even more meaningful rewards to their combined consumer bases, via richer data sets that advertisers and brands can access (at a cost).
The question is, how quickly can they gain more traction in terms of getting a critical mass of brands and advertisers targeting consumers via blockchain marketing (who already have established rich profiles) on a regular basis.
We like to see companies do well, so let’s hope the future is bright.
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.