Blockchain enables a decentralized transparent ledger distributed among nodes that record and validate transactions.

Blockchain facilitates:

•Unique opportunity to bring together multiple entities/brands for a seamless-and-scalable reward program

•Redemption flexibility with flexible reward structures

•Cost efficiency in build and operation

•Brand-owners decide HealthCoins redemption options. From the consumer’s perspective, the ability to manage HealthCoins is frictionless

•Near real-time record and accessibility of purchase-patterns

•Trusted record of engagement through an immutable, traceable and irreversible, time-stamped record of transactions

Consumer loyalty programs represent strategic investments for organizations but often don’t realize full potential due to low consumer retention-redemption, time-delay and high cost.

Blockchain technology for MyHealthCoin helps GSK gain efficiency, reduce costs and build a secure-scalable platform for consumer loyalty.

As per regulatory requirements, acceptance for record and specific-limited use of consumer-data is requested during registration and data stored is not user-specific.

Budget: approximately USD150,000 for app development, enhancements and launch campaign

•83% Singaporean consumers value flexible reward redemption to be able to choose among several types of rewards. Monetary incentives rank as most valued loyalty program benefit. 69% of the loyalty program members prefer to participate in a loyalty program if a mobile app is available.

(source:https://www.nielsen.com/content/dam/nielsenglobal/de/docs/Nielsen%20Global%20Retail%20Loyalty-Sentiment%20Report%20FINAL.pdf)

•Moreover, multiple consumer engagement programs work in silos with lack of consistency resulting in delayed redemptions and reduced engagement rate.

•The idea was to create a secure holistic omni-channel redemption experience for consumers by collaborating with retail and e-commerce partners to recruit, engage and retain consumers, both offline and online.

•Adaptation of blockchain technology best practices ensures a secure and immutable record of purchase/behavior insights of consumers and aids to create a scalable loyalty network that can accommodate multiple brands across geographies. The consumers enjoy gamification experience while exchanging HealthCoins for referrals, among friends and against product samples and attractive discounts.

Long Term Outcomes

Increase Consumer Lifetime Value through Consumer Loyalty and Advocacy by:

? Influencing consumers to move to subscription model for regular-repeat purchases

? Cross-selling complimentary products by providing personalized offers and samples

? Beta launch for products with select consumers

MyHealthCoin enables personalized one-to-one Digital Engagement with consumers for product launches, promotions, feedback and company updates

MyHealthCoin App urges consumers to record certain personal and purchase data, providing GSK first-party consumer data that helps understand consumers and their purchase behavior

Program is scalable to include multiple entities & brands across geographies

Results

o 4.3+ Rating on iOs and Android

o App trending #1 in health & fitness category on Play store – within 1st week of the launch campaign

o 4million+ impressions within initial week of the launch campaign on Google Ads

o Being globally showcased within GSK

Investment Received – Over USD 230,000

Blockchain powered consumer loyalty helps to implement unique, yet economical, secure token (HealthCoin), which can be used instantly across various channels through a decentralized collaborative network. Blockchain helps create a digital mobile wallet comprising of identities that store value in form of loyalty tokens, i.e. HealthCoins in this case.

Consumers can earn HealthCoins on multiple instances such as download and registration, promotional QR Code scan various touchpoints, clicks on digital advertisements, invitation or transfer to friends.

Consumers can redeem HealthCoins on-the-go at retail outlets as well as e-commerce platforms for promotions, product samples and exchange HealthCoins with friends too.

Post redemption, the token is transferred to the respective affiliates/partners, so that they can validate the transaction from the blockchain. The token standard used is ERC721, which is non-fungible; hence, each HealthCoin is distinguishable.

Consumers can track the number of HealthCoins available with them as well as the number available in the market for any particular product promotion and thus, have better visibility and control.

GSK gets first party consumer data, which can be utilized to channel personalized promotions through preferred retail partners.

The ionic 3 framework enables MyHealthCoin App’s functionality as a hybrid app for both iOS and Android.