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 through the use of the best American Express card available to the customer at the time. 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

What is Tether? Is the USDT Stablecoin Legit?

Tether is a cryptocurrency pegged to traditional fiat currencies and backed 1:1 by reserves...

Read More
blockchain in hr

Blockchain in HR Will Make Employing People Easier for Businesses

Back office functions are set to be transformed by emerging technologies. Find out how...

Read More
Bitcoin taxes

Understanding Cryptocurrency Taxes: How to Calculate Your Bitcoin Taxes 101

You made big money trading Bitcoin but you don't know how to calculate your...

Read More

NEXT ARTICLE

Getting Started Gold Bars.

NEXT ARTICLE

What is Tether? Is the USDT Stablecoin Legit?

Tether is a cryptocurrency pegged to traditional fiat currencies and backed 1:1 by reserves of these traditional currencies held in accounts by Tether.

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.