Gabriele Giancola, CEO of Qiibee, on Bringing Liquidity to Points, Loyalty Programs Adopting Blockchain, and Web3 Future of Rewards Programs | Ep. 363
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In an exclusive interview with Cryptonews Podcast, Gabriele Giancola, the CEO of Qiibee Foundation, a blockchain-based loyalty ecosystem that helps brands run and connect loyalty programs, discussed the lack of value and liquidity of loyalty points and why this is an issue.
Giancola talked about the benefits blockchain and Web3 bring to the rewards program ecosystem and why they are game changers.
He also argued that rewards will become one of the largest payment currencies.
Speaking about loyalty programs in general, Giancola noted that the biggest issue, which concerns both the users and brands, is the value of these points.
If points have no value, there is no reason for users to participate.
At the same time, various users’ accounts currently have a massive amount of points locked. “We’re talking about the GDP of Switzerland,” Giancola said, “more than $500 billion worth of points worldwide.”
But there aren’t many options to utilize them.
The Qiibee team believes that brands must create more liquidity for loyalty points.
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