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.”
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.