| Summary: | A blockchain is a distributed and immutable ledger that stores records of transactions. No one can alter a transaction after it’s been recorded on the blockchain. By using a public blockchain, users can view all transactions occurring on the network. This makes the blockchain an ideal platform to build a gamified reward system. Currently, many retail companies use a reward system to award points to their customers who make frequent purchases (i.e., Starbucks, Singapore Airlines etc.). These points can be exchanged for rewards within the brand to increase the customer base and retain existing customers. However, there is a lack of transparency, immutability, and flexibility in such a reward system. Users cannot tell if points have been distributed fairly, how they fare against other users and points can only be used within the brand itself.
The objective of this project is to create a gamified reward system on a public blockchain to rectify the issues in the current reward system. Blockchain is immutable and prevents malicious parties from attempting to cheat the reward system. The transparency of a public blockchain prevents unfair distribution of points and fosters competition amongst players. Blockchain allows the creation of points in the form of cryptocurrency which can be used to trade for other forms of rewards outside of the brand.
We have developed a web application that can allow users to purchase products online and verify the user’s purchase using signature cryptography. The verified user is then allowed to claim their tokens and unlock reward vouchers in the form of Non-Fungible Tokens (NFT). NFTs ensure that each voucher is unique and cannot be duplicated, allowing users to securely exchange for rewards instore.
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