Business Daily Media

Men's Weekly

.

Loyyal Broadens IP Portfolio With Latest South Korea Patent Award

  • Written by ACN Newswire
image
SAN FRANCISCO, CA, June 25, 2019 - (ACN Newswire) - Loyyal, the industry leader in bringing blockchain technologies to today's loyalty and incentive programs, announced the award by the Korea Intellectual Property Office of Patent number 10-1955833, for Distributed Ledger Protocol to Incentivize Transactional and Non-Transactional Commerce. This latest addition to Loyyal's growing portfolio of intellectual property covers incentive and loyalty program implementation methods using distributed ledger protocol systems including blockchain technologies, to incentivize transactional and non-transactional behavior.

This same intellectual property along with other associated patents at various stages of approval in over eight territories globally, including patent grants awarded in Japan and Singapore, provides Loyyal's clients in Travel & Hospitality, Financial Services, and other sectors the assurances needed to expand deployment of the industry's first enterprise-grade blockchain solution for loyalty and incentive programs. By enhancing their programs' liquidity and interoperability via Loyyal's technologies, these market leaders help unlock a portion of the hundreds of billions of dollars in value locked up in member balances today. Key to this particular patent issued is the recognition that the tokenization and management of loyalty program incentives - traditionally points, miles, or "stars" - need not only be for typical behaviors such as purchases; it includes non-transactional behaviors as well, such as reaching a goal or visiting a particular location.

"We are pleased to secure this strategically important patent grant from the Intellectual Property Office of Korea as a part of Loyyal's broader, long term global patent strategy," said Greg Simon, CEO and Founder. "Korea has a strong and growing market for enterprise-use blockchain applications. Specifically, the loyalty application is already live amongst Korean financial institutions. We are excited about the new opportunities and partnerships this opens for Loyyal in Korea, and across Asia."

About LoyyalLoyyal, the Internet of Loyalty(TM), is reinventing how loyalty is created, rewarded, and managed. Using proprietary blockchain and smart contract technology, Loyyal's interoperable loyalty and rewards platform brings a host of benefits to a highly fragmented industry and offers brands an innovative way to unlock the billions of dollars in value held captive in legacy loyalty programs today. For information about Loyyal, please visit www.loyyal.com or email [email protected]. [1][2]

Topic: New market for productSectors: Cards/Payments, Retail/eCommerce, Travel & Tourism, FinTech/Chains[3][4][5][6] http://www.acnnewswire.com From the Asia Corporate News Network

Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

References

  1. ^ www.loyyal.com (www.loyyal.com)
  2. ^ [email protected] (www.acnnewswire.com)
  3. ^ Cards/Payments (www.acnnewswire.com)
  4. ^ Retail/eCommerce (www.acnnewswire.com)
  5. ^ Travel & Tourism (www.acnnewswire.com)
  6. ^ FinTech/Chains (www.acnnewswire.com)

Read more http://www.acnnewswire.com/press-release/english/52593/

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Sell by LayBy