Fujitsu Launches a Blockchain-Based Reward System for Retail and Hospitality
- Japanese multinational firm Fujitsu announced the launch of Fujitsu Intelligent Society Solution Blockchain Asset Service, a cloud service, blockchain-based reward system for retail and hospitality operators.
- The service enables companies to connect their apps to a blockchain-based system that tracks shoppers’ collection of reward points and use of coupons and benefits, information that is used for consumer analytics and to encourage shoppers’ loyalty.
- Fujitsu has been active in the commercial development of blockchain applications during the past few years, including the opening of a Blockchain Innovation Center in Brussels in March 2018 and a trial of a person-to-person money transfer service using blockchain technology in collaboration with major Japanese banks in October 2017.
On June 6, 2018, Japanese multinational information technology equipment and services company Fujitsu announced the launch of Fujitsu Intelligent Society Solution Blockchain Asset Service, a cloud service, blockchain-based reward system for retail and hospitality operators. The service, which was launched in Japan on the day of the announcement, will be presented at the business technology event Interop Tokyo 2018 held June 13–15.
Through the Blockchain Asset Service, shoppers or tourists can collect digital points or stamps by scanning QR codes with their smartphone devices and exchange them for coupons or other benefits that can be used at specified stores or shopping centers. The shoppers’ activity generated by the reward system is recorded on the blockchain, and this information is used by retailers for consumer analytics.
Diagram of Blockchain Asset Service
According to Fujitsu, retailers or hospitality operators using the Blockchain Asset Service can improve the rate at which they attract shoppers and tourists and increase their willingness to buy, thanks to the reward mechanism. At the same time,operators can inform their strategic decision-making processes, thanks to the analysis of the information on the use of coupons and other benefits by shoppers that are collected and stored on the blockchain.
Fujitsu’s Blockchain Asset Service is available to companies in API forms, which makes it easy for the clients’ development teams to connect it with apps they develop. The service gives companies access to a blockchain technology platform without the need for an internal expertise in the technology.
Fujitsu has been active in the commercial development of blockchain applications during the past few years. In March 2018, Fujitsu opened a Blockchain Innovation Center in Brussels, Belgium, to undertake research with partners and to collaborate on specific projects to explore the technology’s potential. In October 2017, Fujitsu announced an agreement with three major Japanese banks to conduct a joint field trial of a person-to-person money transfer service using blockchain technology. In October 2016, the company announced the development of blockchain-based security technologies to safely and securely handle confidential data between multiple organizations.