Capgemini and ascribe Team up to Bring Blockchain to Loyalty and Rewards Systems for Financial Services Clients

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Capgemini, has announced an alliance with Berlin startup ascribe to develop a Blockchain database solution built on BigchainDB, for a rewards and loyalty system for consumer banking that tracks processed transactions in real-time. The Blockchain database will enable banks to offer consumers the ability to combine loyalty points from various programs and use them in real-time for redemption.

“The world wants prototypes and use cases for Blockchain technologies,” said Bruce Pon, CEO of BigchainDB, part of ascribe. “Working with Capgemini, we’re going to develop multiple proof-of-concepts that are immediately applicable to the real-world.”

As part of the alliance, Capgemini will bring together its extensive financial services, consulting and digital technology expertise in BigchainDB to design and develop a loyalty and rewards system. The Blockchain database solution will help banks to have flexibility on offering a robust reward system that is cost-efficient, and secure, while providing consumers the ability to use rewards across multiple merchants.

This news follows Capgemini‘s recently announced expansion of its Blockchain practice, to develop innovative digital frameworks and prototypes and build a world-class Blockchain ecosystem. The company is collaborating with some of the world’s leading financial services organizations to help them embrace Blockchain technology. The ascribe alliance enables Capgemini to execute demonstrations for its retail banking clients and deliver on this vision.

“The potential of Blockchain technology to enable a better customer experience is considerable and Capgemini and ascribe are excited to be part of this transformation,” said Sankar Krishnan, Vice President, Financial Services, Capgemini. “For loyalty rewards programs, a Blockchain-based solution could enable a real-time, localized view of data for both merchants and consumers, providing opportunities for new rewards programs for consumers as well as the potential for improved management of assets and resources for merchants.”

To learn more about Capgemini’s Blockchain practice and capabilities, visit www.capgemini.com/Blockchain

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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