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"SKYBUYS WORLD" LOYALTY PROGRAM
SkyBuys connects online and offline worlds for Luxury Goods and Brands in Duty Free and Travel Retail. With its partners in the global travel ecosystem (airlines, airports, concessionaires, travel agents and other travel retail merchants and payments cards) SkyBuys is launching a global rewards program developed on a cryptographic based utility token. Register below for updates.
DEVELOPED ON BLOCKCHAIN
The SkyBuys World program is being developed on a cryptographic based utility token built using Distributed Ledger Technology (DLT, Blockchain) that provides a single, global solution for online-to-offline (O2O), duty free shopping and travel retail commerce experience.
We have chosen the Stellar DLT protocol platform as the underlying technology, as it was designed specifically for frictionless global payments.
SkyBuys will be the first organisation in the international travel world to have a commerce platform that touches all aspects of the travel journey and includes all groups in the ecosystem with an emphasis on online discovery though the SkyBuys App and offline purchase via a network of global concessionaires, travel retail groups and payments cards.
SkyBuys global partners
The SkyBuys platform has already attracted some of the most advanced global organisations and we have several airlines, concessionaires, travel retail groups under NDA or at MoU, along with some very forward thinking innovative luxury goods and food and beverages conglomerates that all contribute to the global travel ecosystem.
Building on this base, the SkyBuys World rewards program will offer benefits for the consumer and luxury goods marketers while utilising all the other players in the travel retail journey, including payment card schemes, banks, payment service providers, airline loyalty schemes and airline marketing affiliations as well as the luxury brands.
Where the SkyBuys’ solution is different is that our technology platform is based on a focus at SKU (Stock Keeping Unit) level and does not just use merchant and spend level data. So where current payment card schemes can only offer rewards at a merchant level, SkyBuys - through the basis of its exclusive licence of this SKU-focused patented method - can link incentives and rewards at a product level.
SkyBuys World Token
By utilising Blockchain, SkyBuys rewards program and the SkyBuys World Token will decentralise stored value, accumulated via a loyalty program or schemes, into a central transferable unit. In doing so, not only we offer advantages to a loyalty scheme participant (because the reward can be redeemed in multiple markets), but also to the organisation distributing the reward units, or points, via their proprietary loyalty scheme (as rewards are now redeemable globally).
The decentralised SkyBuys World Token platform will be able to aggregate reward points across multiple loyalty schemes and also alleviate reward points from one scheme to another, satisfying both sides of the market.
And therefore any customers of a SkyBuys global travel retail partner will have the option to combine reward points from multiple loyalty schemes into one unit and use at that single scheme; the SkyBuys World Token. Customers who receive or purchase SkyBuys World Tokens will be able to use these to exchange for loyalty points or even goods and services. They can also resell them at any time on the exchanges offering the SkyBuys World Token.
The SkyBuys World Token will make transfer and conversion of foreign fiat currency much easier and at lower cost. In the future, with a debit card supporting the SkyBuys World Token, tourists and travellers shopping for duty free or any travel retail can shop by using SkyBuys World Tokens or cash out local fiat currency, on an exchange, or even at an ATM.
Most importantly, our concept will also allow our airline partners to better manage the financial accounting of their frequent flyer rewards programs as this is a major concern for many airlines (carrying this liability on their balance sheets).
The SkyBuys decentralised loyalty platform is being developed on the Stellar Blockchain platform.
Stellar is an open-source protocol forming a global value exchange network. On a high level Stellar connects banks, payments systems and people around the world – basically an infrastructure for payments—designed from the outset to make it easier for financial institutions to issue tokens representing fiat currencies.