Kelly Robertson
Fujitsu is one of those giant companies that wants to ride the blockchain wave. The company’s latest effort comes in the form of a blockchain-based reward points system that aims to bring innovation in the retail business, which — let’s face it — could use any magic it could get.
Fujitsu Intelligent Society Solution Blockchain Asset Service
The system, called the Fujitsu Intelligent Society Solution Blockchain Asset Service, uses the blockchain-based data storage system that tokenizes such traditional retail promotional strategies as coupons and loyalty points, with the idea to revitalize local economies by increasing consumers’ “willingness to buy,” as well as improving data analysis methods in retail industries.
As Fujitsu has put it:
With this service, users can collect digital points or stamps by reading QR codes located in specific areas with smart devices, and then exchange them for coupons and other benefits that can be used in stores… In addition, collection and usage data for the points, stamps, and coupons, which are recorded on the blockchain distributed ledger, can be linked with user information for analysis.
The system promises to help attract users to specific promotional events and influence consumer patterns, especially when integrated into specific smart device applications. It is available to Fujitsu customers in the form of an API, ensuring for easy implementation.
Speaking of which [implementation], the company has already managed to test tokenized rewards at a branch of Taiwan’s FamilyMart convenience stores. The field trial was designed to attract more customers by using a tech strategy that included communication robots together with blockchain.
Not the first blockchain effort by Fujitsu
Quite the contrary, the Japanese IT giant has long been engaged in the space, working on an enterprise-focused blockchain platform back in August 2017, and partnering with IOTA on a data monetization solution last November.
Fujitsu has also launched an interoperable payments platform called ConnectionChain, which uses smart contract technology to interconnect multiple blockchains for better transaction automation. Such technology, the company claims, provides a reliable and transparent way to handle the currency exchange processing at the boundaries between the blockchains.
In March, Fujitsu opened an international Blockchain Innovation Center in Belgium.
