Abstract
Large organizations are increasingly attracted to the notion of reward points as a form of loyalty giveaway. However, for current markets, these points can be redeemed only within the organizational domain. No concept of interoperability or exchangeability of these points exists among cross-organization users in a decentralized manner. To address this challenge, this study proposes a solution for exchanging user-earned reward points using blockchain technology. The solution aims at a decentralized peer-to-peer exchange network wherein participants can directly exchange points through web/mobile apps of point-offering organizations. To this end, we propose using Hyperledger Fabric Blockchain and Hyperledger Composer, which will synchronize the initial data from off-chain apps, and after the exchanges are done on-chain, sync the data back to them. This approach extends existing off-chain organization management systems instead of requiring a whole new system both for users and organizations and also optimizes the ever growing blockchain database size.
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Acknowledgments
This work is supported by Natural Science Foundation of China (Grant No. 41572347).
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This work was supported by the National Natural Science Foundation of China [grant number 41572347].
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Pramanik, B.K., Rahman, A.Z.M.S. & Li, M. Blockchain-based reward point exchange systems. Multimed Tools Appl 79, 9785–9798 (2020). https://doi.org/10.1007/s11042-019-08341-2
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DOI: https://doi.org/10.1007/s11042-019-08341-2