Connecting Consumers and Brands with Blockchain: Sandblock Aims to Disrupt Loyalty Programs
| Updatedby Eugenia Kovaliova · 3 min read
Brands and customers connected with cryptocurrencies and the underlying blockchain technology will soon be united in the first worldwide consortium Sandblock.
Brands often invest a lot of money in retaining and attracting new customers. While customers are also receptive to such techniques, the problem comes with the issue of customer information being held and shared by companies creating serious privacy concerns. This threat to the consumer privacy and data protection becomes a thorn on the brands’ side because, on the one side, they don’t want to spoil their reputation, and on the other side, they are unable to do their job effectively unless they turn to these conventional means.
Blockchain with incredible capability to handle data privately sounds as a perfect solution here. Sandblock is a new autonomous consortium that uses a decentralized protocol to connect brands and customers. This will help keep data safe and provide users with freedom to share it as they wish.
The platform is based on the Ethereum blockchain and is populated by the native Satisfaction token (SAT). The Sandblock platform is an attempt to provide a level playing field for all brands by breaking the monopoly of big brands and getting rid of their exclusive access to customer data, which is currently kept illegally without any information of the relevant parties. Satisfaction’s decentralized protocol allows brands access to user information within the universally agreed data privacy concepts.
In order to reach out to the crypto community who are perhaps the most concerned group regarding privacy issues, the Sandblock developers have come up with a two pronged approach for their own name recognition.
Firstly, they are releasing a mobile application dedicated to all crypto community, whether or not are they interested in the new startup. The new mobile app can become a more effective method of crypto asset management. It allows trading and direct earning from all favorite shops. The application is already in alpha testing mode and a public beta will soon be released.
Next is Sandblock’s blockchain-based ecosystem. The platform converts all brand related aways into tradable crypto-assets and thus creates a rewards program working for people around the world, not just a specific country. The transaction fees are quite low, which enables microsavings from these rewards programs. There is a base value set for each brand’s rewards, which helps to minimize the volatile aspects of the crypto market. This allows a real base value to be kept at all times even if a brand’s business can’t deliver on its own.
The Sandblock TGE will take place in the first quarter of 2018. The token name is SAT and the dates haven’t been announced as of yet. But, there will be a 15% bonus on offer for the first day followed by 10% the next day and 5% in the 10 ensuing days. The soft cap is 2,700 ETH and hard cap 8,000 ETH. More details are going to be announced by the Sandblock guys in the near future.
