2016/09/28 1:35 PM

SYDNEY — Bitscan, a cryptocurrency merchant directory, has partnered with blockchain platform Waves to bring customer loyalty programs to the blockchain. If successful, the partners say their Incent Loyalty network will make loyalty rewards programs more useful and cost-effective.

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IncentBy utilizing the blockchain, the team says the platform allows merchants of any size to create customer rewards programs without incurring wasteful costs. The platform works by allowing merchants to choose a reward size for their programs, which get pooled with other rewards across the platform’s network. According to the press release, this process protects merchants from “contingent liability.”

BitScan founder and CEO Rob Wilson told press this initiative seemed logical to him. “Loyalty systems as they currently exist are broken,” he said. “We know we can create a better proposition…

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