blockchain loyalty program
Cryptocurrencies,  Technology

South Korean loyalty program with 23M users turns to blockchain

It’s estimated that Dodo Point is used by half of the country’s population—and now, they have the opportunity to earn crypto by sharing their data via Carry Protocol

A blockchain project that compensates consumers for sharing offline data and viewing ads has teamed up with a major South Korean loyalty program that boasts 23 million users.

Carry Protocol’s goal is to return control of data privacy and monetization rights back to consumers—and the start-up is hoping to achieve widespread adoption.

The company’s data collection feature has now been rolled out to Dodo Point, which claims to be South Korea’s biggest loyalty platform. Estimates suggest that it is used by roughly half of the country’s population.

In a release, Carry Protocol said that consumers who make a purchase with a retailer on the Dodo network can rate the shop afterwards—and those who participate will have the opportunity to win top prizes including AirPod Pro wireless earphones and Starbucks vouchers.

Carry on partnering

The tie-up with Dodo Point follows on from successful collaborations with Pundi X, which offers merchants blockchain-based point-of-sale technology. Carry Protocol also recently struck up a partnership with the social network Bananatok.

“We are very excited to approach millions of monthly Dodo Point users through the campaign,” Carry Protocol said. “We believe the first step to widespread adoption is to strip away complexities associated with blockchain technology so that any average person can use Carry.”

Executives plan to closely monitor usage and engagement metrics during the giveaway promotion, which will run until August 31. From there, Carry Protocol hopes to learn more about how its product fits into the marketplace—and receive inspiration for the features that should be added in future.

A long time coming

The partnership between the Carry Protocol and Dodo Point has been a long time coming—indeed, the collaboration was first touted back in May 2019.

That blog post noted that Dodo Point has enjoyed astronomical growth since it launched, with the offline rewards market leader securing its 20 millionth user before its eighth anniversary.

Dodo Point is owned by Spoqa, and its users have the chance to collect points at brick-and-mortar stores by sharing their phone number. For time-pressed shoppers, this can be much more straightforward than going through the arduous process of becoming a fully fledged member at a store they may not frequent all that often.

Given the fact that this loyalty platform’s key demographic are consumers in their 20s and 30s, you could argue that its user base is the perfect audience for a blockchain- and cryptocurrency-based program. Those who share their data with the Carry Protocol are rewarded in CRE tokens which can be redeemed for merchandise or cashed out via a crypto exchange.

It’s not the only company seeking to put loyalty programs on a blockchain. Loyyal has created a blockchain-as-a-service loyalty program engine, looking to reduce costs and inefficiencies on the back end.

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Connor Sephton is a journalist with an interest in cryptocurrencies, personal finance, and financial inclusion—as well as the challenges the crypto industry faces in achieving mainstream adoption. He owns cryptocurrencies.