“Our unique distribution method for the VCB token encourages wide adoption and use among consumers with little or no knowledge of cryptographically-secured tokens.”
Manhattan Beach, California (PRWEB)
July 17, 2017
CausePlay, LLC’s thirtythree.8 division is introducing the Virtual Cash Back (VCB) token to enable the next generation in retail marketing and engagement. VCB loyalty programs, rebates, coupons and rewards will utilize the Ethereum blockchain to support greater security, budget controls and a platform for the unbanked to engage in greater detail with brands while addressing existing problems with legacy coupon and rebate processing systems.
thirtythree.8 develops and delivers mobile coupon and rebate applications and redemption processing infrastructure for global brands and retailers. Globally, coupon and rebate activity represents approximately US $20 billion in value per year flowing from brands to consumers.
With little change in technology and clearing processes over the past decades, the issue of fraud in the segment has grown to over U.S. $600M annually.
“To address this problem and provide an unparalleled level of security, thirtythree.8 introduced a blockchain-based solution that provides a cryptographically-secured transaction model that can mitigate the fraudulent coupon and rebate activity”, said Chief Operating Officer, Jonas Hudson. “Our unique distribution method for the VCB token encourages wide adoption and use among consumers with little or no knowledge of cryptographically-secured tokens. VCB tokens and the associated wallet applications will enable brands to maintain a direct relationship with these consumers, as well as develop and deliver campaigns targeting consumers at specific…