ChronoBank partners with Invigor on blockchain loyalty token
Chronobank will partner with the company to release ‘Infinity’ points that will be used to reward consumers and track their purchasing journey.
AsChronoBank continues to iterate its powerful ChronoMint token management software and Labour-hire marketplace, the company is pleased to announce that it has sealed a joint venture partnership with a major data intelligence business. Invigor will use ChronoBank’s unique infrastructure to host their Infinity reward token, which will be earned from purchases and services and that will trade on exchanges for loyalty points used in many different retail and service environments. “Data analytics into dollars”
Invigor Group is an Australian Stock Exchange (ASX) listed comany. Invigor Group B2B data intelligence and solutions company serving the retail and service industries. Its software and data ecosystem enables businesses to gain a more comprehensive and rounded view of their customers and competitors in order to engage with them better — increasing long-term profitability by leveraging data and predictive technologies.
Gary Cohen
“Businesses’ power to effectively manage data is limited by the thousands of loyalty and points issuance programs available in the market. Invigor’s unique Loyalty solutions turn data into recommendations, which enables retailers and service providers to engage customers in a personalised way to increase spend, frequency and lifetime value,” — Gary Cohen, CEO at Invigor Group.
Key to the offering is the use of blockchain technology to create a token that will be traded between businesses and consumers, and that will offer greater value than the individual loyalty points that presently characterise a fragmented and ineffective system. “The rollout of the Infinity digital token in Australia but also in some international markets will present an exciting market opportunity for the Company.” Secure, straightforward token operations
To begin with, the partnership will seek to work with the retail and services industries — since these are key target areas for both Invigor and ChronoBank. ChronoBank’s technology has the potential to accelerate the adoption of Infinity on a global scale — including in markets where loyalty points are not yet widely used.
Sergei Sergienko, CEO at Chronobank
“This is an ideal use case for our software. One of the purposes of the token creation functionality we’ve built into ChronoMint is precisely to enable the launch of loyalty currency tokens. The idea of issuing these against services provided on LaborX as part of an engagement strategy, and trading them on TimeX for other loyalty tokens and cryptocurrencies, is exactly the kind of approach we always intended. We’re very pleased to see such an initiative driven forwards by Invigor and look forward to their success in this growing sector,” — Sergei Sergienko, CEO at Chronobank. About Invigor Group
Invigor Group (ASX: IVO) is a B2B data intelligence and solutions company that turns data analytics into dollars for the retail and service industries. Invigor’s innovation in owned retail platforms and unique cross-channel data ecosystem allows businesses to have a holistic view of their customers and competitive landscape to not only understand, but effectively engage with today’s physical and digital consumers. Combined with proprietary data and predictive engines, Invigor Group provides strategic insights and recommendations that empower businesses to successfully influence future customer strategy and increase long-term profitability.
For more information, please visit https://www.invigorgroup.com.
IVO Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
