Lucas
@lucaslin
Thoughts on putting spendable loyalty points/miles on chain?
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Andy Jagoe
@andyjagoe
owners of loyalty and points programs are notorious for devaluing whenever they like. might be hard for them to give that up.
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Lucas
@lucaslin
Good point. What do you think about a gift-card program like Starbucks’s? Presumably that reloadable balance remains pegged to fiat.
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Andy Jagoe
@andyjagoe
interesting long term, gift cards on chain may collapse the cost of gift card programs and expand the market it's like having your own stablecoin pegged to the dollar, redeemable only for the products of one business
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Lucas
@lucaslin
Exactly what I was thinking. I see some benefits and some drawbacks, but I’m trying to think of unique value props that crypto might enable. Yeah, it’s basically a merchant-branded stablecoin.
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Lucas
@lucaslin
Basically the stablecoin is pegged by the business promise to deliver goods and services (debt)
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Andy Jagoe
@andyjagoe
yes and like gift cards probably trades below its $1 'peg'
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Lucas
@lucaslin
That’s almost certainly what I’d imagine happening. But the trading of gift cards is something I imagine merchants wouldn’t want, since something like 40% of gift cards go unused. I’m trying to think of if there are offsetting benefits for merchants. Maybe social sharing?
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