Loyyal, a universal loyalty and rewards platform, built with blockchain and smart contract technology today announced the launch of version 1.0 of the Loyyal Product Suite introducing a host of customer benefits with new features and capabilities delivering significant improvements in transaction performance, security, network resiliency, and scalability.
This new packaging of Loyyal’s Blockchain-as-a-Service and software components brings together the core Loyyal Platform APIs, the company’s proprietary Private Channels functionality for secure, private transaction sharing among partners, Loyyal’s Program Manager and Event Manager modules, together with Node hosting for a complete solution.
“An advantage of Loyyal’s four years in the market, being one of the earliest commercial blockchain applications, is the invaluable real-world feedback we receive from our clients. This release brings even more of the power of this exciting new technology to providers of loyalty and incentive programs, and in turn will accelerate new benefits for their members.”
Key among the major features introduced in the newly bundled Loyyal Product Suite is support for Node-to-Node sharing of transactions across Loyyal’s network. With this, loyalty program operators now have greater flexibility than ever before in providing Members with easy transfer of points or miles between participating programs, all securely enabled via smart contracts. This dramatically lowers costs and improves profitability for program operators over existing, non-blockchain industry alternatives.
“This continued evolution of Loyyal’s technology and how it leverages the power of Hyperledger Fabric is precisely what we see large scale enterprise clients needing at this time, as blockchain technology continues to become a mainstream part of their IT infrastructure. The loyalty and incentives use case is perfectly suited to the benefits delivered by a scalable, interoperable distributed ledger.”
To truly fulfill the needs of Loyyal’s global client base, the primary focus of the new Loyyal Product Suite version 1.0 is providing enterprise-grade enhancements in security, performance, data resiliency, and network scalability. To move blockchain projects out of the trial phase and into production-ready applications, it has been critically important for Loyyal’s platform to meet, and exceed, the stringent requirements of the largest and most security-conscious programs, ranging from Travel & Hospitality to Financial Services.
Loyyal Product Suite version 1.0 goes further in meeting the demands of these world-class programs with a multi-cloud, multi-peer architecture for enhanced disaster recovery and data concurrency. This ensures the gap-less availability of transaction data required by today’s 24×7 member engagement via a program’s mobile and web applications. Additionally, those same applications require a blockchain capable of the reliable, real-time blocking malicious or fraudulent transactions, to guarantee the accuracy of the ledger shared between programs, partners, and members; which only the Loyyal Product Suite provides.