coincentral-main-menu-search-eyeglass
Hamburger X.

American Express to Add Blockchain to Membership Rewards Program

american express

American Express to Add Blockchain to Membership Rewards Program

On Wednesday, American Express announced a blockchain application to its Membership Rewards program.

Using Hyperledger’s blockchain technology, merchants will be tailor customized offers using Membership Rewards points on their own platform with the goal of increasing engagement and usage rates with their customers. The pilot trial with Boxed will let members earn up to 5x the normal number of points on certain products, according to the press release.

This is a notable application of blockchain, as American Express’ Membership Rewards is one of the company’s most notable and strongest assets and exists in 21 countries.

The blockchain implementation is designed to keep all merchant and user data private, anonymized, and secure. It will also help increase transparency of what merchants are offering for American Express, as well as decreasing the onboarding time for new partners down from the months to “a matter of weeks”.

While many don’t immediately think of American Express as exploring and innovating within the blockchain realm, it’s worth noting that the company joined the Linex Foundation-led Hyperledger in January 2017. Additionally, American Express invested in Abra’s $12m Series A round in September 2015.

NEWSLETTER

Newsletter (Sidebar)

  • This field is for validation purposes and should be left unchanged.

RELATED ARTICLES

Spending BTC

Forget HODLing, Is Spending the Only Way to Revive Bitcoin?

While HODLing has been hailed as how to revive bitcoin, the only way the digital currency can...

Read More
bitcoin social wallet

How Social Wallets Will Change The Cryptocurrency Industry

In the past year, the mainstream world has embraced the idea of the blockchain and crypto-based transactions,...

Read More
this week in cryptocurrency december 14 2018

This Week in Cryptocurrency: December 14, 2018

This week in crypto: U.S. bills start moving, the CFTC looks for teachers, and Dash dines on...

Read More

NEXT ARTICLE

Getting Started Gold Bars.

NEXT ARTICLE

Forget HODLing, Is Spending the Only Way to Revive Bitcoin?

While HODLing has been hailed as how to revive bitcoin, the only way the digital currency can gain intrinsic value is by spending it.

ABOUT THE AUTHOR

Getting Started Gold Bars.

ABOUT THE AUTHOR

Alex is the Editor-in-Chief of CoinCentral. Alex also advises blockchain startups, enterprise organizations, and ICOs on content strategy, marketing, and business development. He also regrets not buying more Bitcoin back in 2012, just like you.