Smartphone penetration in Indonesia is increasingly widespread. It helped encourage many companies make loyalty program, either in the form of shopping or virtual gift points via mobile applications. The result is felt to be effective to maintain customer loyalty. Nevertheless the principle of technology is still very traditional, centralistic and less transparent. Based in Singapore, Vexanium by Indonesians wants to change that principle in a different way by utilizing blockchain technology.

E-commerce market share in Asia is very large, especially in Southeast Asia, such as Indonesia, Thailand and Vietnam. It's over billions of dollars each year and it's growing fast. Coupon and gift card are increasing sales results. However, the e-commerce market faces many difficulties, such as the swelling of promotional costs, the low rate of coupon liquidity, both on the merchant and consumer side.

"By using the Vexanium platform, companies can create points in loyalty program applications in the form of digital tokens made with our Achain blockchain technology. In this case Digital tokens can be determined how many units are issued within a certain time range. Thus, there is a limit on the number of tokens or points issued. It is important to confirm the value of the program and include the value made by companies / merchants." - said Danny Baskara, the Founder and CEO of Vexanium, and also he is former CEO of E-Voucher Indonesia.

Danny said, the blockchain-based digital token does not mean that point can be sold in the market as "digital asset". Point can only be used in Vexanium application or other loyalty program applications to redeem for certain products. The point is transparent and it can be monitored by all the participants, "because this is the advantage of using smart contract."

"For companies who want to leverage Vexanium platform to create digital tokens on the applications, they can use Vexanium tokens - VEX to make transaction and pay for fees, etc. It's an ecosystem." said Danny.

In terms of sales campaigns and loyalty campaigns with the Vexanium ecosystem, companies simply deposit a number of VEX tokens into the platform. These tokens can be distributed to the VEX community as a bonus or airdrop to customers.

"So these kind of incentives and rewards to customers will have very good CPA (Cost Per Acquisition). The tokens can also be converted into coupons or points that can be used in the company apps, "said Danny. He and Vexanium have already landed a few partnership deals with company like Tokenomy and etc.

Courtesy to KAVINDHRA NARARYA from EdukasiBitcoin

Original link: https://edukasibitcoin.com/vexanium-bikin-loyalty-program-jadi-lebih-efisien-dan-transparan/