PRESS RELEASE: Chinese Loyalty Rewards Solution foodchains Announces Partnership with Swiss Loyalty Ecosystem qiibeeJuly 19, 2018
qiibee to power foodchains’ gamification-based rewards system and bring loyalty on the blockchain to China
Zug, Switzerland — July 18, 2018 — qiibee, the Swiss loyalty token protocol which helps brands around the world run their loyalty programs on the blockchain, has announced a partnership with Chinese restaurant loyalty rewards program foodchains, creating a blockchain-based cryptocurrency in the process.
Customers who download the foodchains app will earn FAN tokens each time they make a purchase at participating foodchains restaurants simply by scanning a QR code, writing reviews about their dining experience, and other community-related actions.
“Small to medium-sized restaurants often struggle with traditional loyalty programs and reward systems as a result of their limited size and high integration costs. Blockchain technology allows us to streamline the execution and administration of our loyalty program with near real-time transparency, resulting in cost savings that can be realized in the medium term,” said Clement Lee, Co-founder and CEO of foodchains.
Partner restaurants will be issuing and accepting FAN tokens, which are interchangeable across all participating locations on foodchains’ network.
foodchains plans to roll out its tokenized loyalty rewards program to Wheelys Cafe, a Y Combinator-backed bicycle cafe chain with more than 900 cafes in 73 countries, as well as to more than 60 independent Shanghai-based restaurants, with beta testing due to begin in India.
foodchains foresees a long-term collaboration with qiibee, with Lee aiming to achieve “viral adoption” of the loyalty program in China.
“Things are moving at a fast and furious pace in the cryptosphere. We believe that our experience in the restaurant sector and qiibee’s already proven expertise and proof-of-concept will allow us to rapidly deploy the platform on a global scale,” he continued.
Co-founder and CEO of qiibee, Gabriele Giancola, said: “foodchains’ business model is a perfect use case of the qiibee infrastructure, whereby a loyalty program is built from scratch. We want to help brands such as foodchains engage with blockchain technology without the need for cost-intensive integration, and by making the loyalty landscape more efficient and user-friendly, we aim to make it a better and more seamless experience for both brands and their customers.”
foodchains’ loyalty program is due to be rolled out in early 2019.
qiibee, the Swiss loyalty token protocol, helps brands around the world run their loyalty programs on the blockchain. Founded in 2015 by Gabriele Giancola and Gianluca Giancola, qiibee builds on strong expertise, existing partnerships, and in-depth knowledge of the loyalty sector.
qiibee’s blockchain plug-and-play solution supports businesses, giving them full flexibility to create their own loyalty programs on qiibee’s protocol.
For more information, visit https://qiibee.com
Founded in June 2018 by Clement Lee and Gene Shen, foodchains is a B2B2C loyalty rewards solution that uses blockchain and smart contract technology. The platform allows restaurants to offer foodchains tokens (FAN) for customers’ purchases and rewards. Customers can redeem rewards from participating foodchains restaurants using the foodchains mobile app, which includes a digital wallet for storing tokens and a restaurant discovery tool.
An extension of freshchefs, the Shanghai-based online catering company, the team behind foodchains has a proven track record in developing successful restaurant concepts, with Lee having co-founded the largest restaurant delivery company in the US, Ez2get.com, which has a revenue of more than $100m.
For more information, visit https://food-chains.io