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Tuesday, October 19, 2021
Home News Capgemini and ascribe Team up to Bring Blockchain to Loyalty and Rewards...

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

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

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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