|Crypto To Go: Lattesso Launches Blockchain-based Loyalty Programme|
|Blockchain technology is finding its way into our everyday lives. The Swiss coffee beverage provider Lattesso is today presenting the first crypto token to be made available in the retail sector. From the end of May, Lattesso beverages will be delivered with a virtual coin. The coins are stored on a blockchain and can be collected, exchanged and redeemed with a user-friendly web app without the need for any technical knowledge.
Zug (Switzerland), 26 April 2018 – The conference participants at the Blockchain Summit in Zug were left astonished this morning. The coffee beverage that they were given at the entrance not only provided them with a much-needed caffeine boost, but also saw the balance of the blockchain enthusiasts’ virtual wallets increase. “We are delighted that we have been able to present this world first in Zug’s Crypto Valley, the global blockchain hot spot”, says Erich Kienle, CEO of the Swiss coffee beverage provider Lattesso.
Benefits of blockchain now available for the first time to the population at large
While most people have become familiar with terms such as blockchain and cryptocurrency thanks to the boom last autumn and winter, few have been able to take advantage of their practical benefits and there has been no impact on their everyday lives. This is now set to change: with the first broad-based loyalty programme on a blockchain, Lattesso wants to make the benefits of virtual coins available to the population at large.
From the end of May, Lattesso cups will be delivered with a code that allows consumers to acquire Lattessocoins free of charge. Coins can be collected via a user-friendly web app and are stored on the blockchain in the background without the user having to deal with any of the technical aspects involved.
The key benefit of the blockchain first becomes apparent in an everyday situation: in contrast to other loyalty programmes, the Lattessocoins are stored on a tamper-proof and open blockchain system. Coins thus belong to users independently of a company, meaning that they can exchange their virtual coins for offers or money as they wish. Expiry dates, conditions and restrictions are a thing of the past.
Diverse usage options
Just like with a traditional loyalty programme, it will soon be possible to exchange Lattessocoins for free coffee. Thanks to the blockchain, however, there are many more possibilities for consumers: Lattessocoins are based on the qiibee system, a specialised platform for loyalty programmes on the established Ethereum blockchain. The coins of all qiibee partners can be exchanged for one another, meaning that Lattesso customers cannot only redeem their loyalty points for coffee, but can in future also benefit from a large number of additional offers.
“Even though the current offer may not yet appear enormous, our new campaign represents pioneering work”, says Kienle. And further exciting partners are set to join the loyalty network by autumn. “It will therefore pay off to collect Lattessocoins from the very beginning”, adds Kienle.
Thanks to the open blockchain system, consumers will also be able to exchange their coins for cash. Cryptocurrencies and crypto tokens, which also include Lattessocoins, can be traded freely. The price is determined by demand, as was clearly demonstrated last autumn with the example of Bitcoin: the value of the virtual currency registered a twenty-fold increase within a year. Who knows if the Lattessocoin will soon experience something similar? “I will definitely be putting some of my collected coins to one side and waiting to see what happens”, reveals Kienle with a twinkle in his eye.
Lattesso will first be available in Switzerland at, among others, Coop, Manor, Lidl, avec, k Kiosk, Volg and various petrol stations.
Access to the web app:
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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.