qiibee are a blockchain loyalty platform which allows retail merchants to create their own branded token to provide to members as a reward. Members can redeem the token with the same retailer or convert into another token to redeem at a different participating retailer. They can also sell on an exchange for cash or other cryptocurrencies. Underpinning the transactions is their own ERC-20 token, QBX.
The approach is similar to DigitalBits, Momentum Protocol and GatCoin. To succeed, this model requires scale, which means many large merchants running their loyalty program on the platform and successfully attracting lots of engaged members to generate lots of transactions. GatCoin appears to have failed in their quest, with their token price dropping from 8c to 0.1c after a $14m ICO raise in January 2018. DigitalBits and Momentum Protocol are working hard to build their respective merchant networks.
qiibee appears to be making progress. According to their website, they currently have three large merchants using their platform:
- Lattesso, the second largest cold coffee producer in Switzerland, which has sold 2m coffees to members in seven European countries, with 12k wallets created
- Sausalitos, the largest cocktail producer in Germany operating 44 restaurants
- Geschenkt, a campaign run by KKiosk and press&books at over 750 POS with 650k daily customers
qiibee appear to have made the implementation and integration experience super-seamless for merchants, with one merchant quoted as saying, ‘qiibee makes it possible to run an entire campaign including the creation of the Geschenkt Coin with next to no lead time.’
This may be as a result of the strategic partnership they’ve established with a network of key agencies which allows for the design, development and marketing of the blockchain loyalty program for new merchants.
While they still have a long way to go, qiibee appear to be well-positioned for growth, although exchange trading of QBX appear very low.
Philip Shelper is a loyalty management consultant based in Sydney, Australia who obsesses about everything to do with loyalty and rewards. His company Loyalty & Reward Co are a leading loyalty consulting firm.
Phil is the author of Blockchain Loyalty: Disrupting loyalty and reinventing marketing using cryptocurrencies. Buy the book.
www.blockchainloyalty.io is a global resource centre for everything blockchain loyalty.