What if retailer outlets sent you cryptocurrencies each time you walked past their store? This is the vision of blockchain start-up Gatcoin founder and CEO Simon Cheong, who has unveiled the company’s new “targeted airdrop” technology.
“Targeted airdrops give companies pin-point accuracy when distributing cryptocurrencies,” says Cheong. “They can bring people into stores, recruit new customers, and trigger more sales.”
Gatcoin will allow retailers to issue their own cryptocurrencies to consumers to replace traditional discount coupons, loyalty points and gift vouchers. Cryptocurrencies will then be used to buy products or can be traded by holders for other retail currencies or cash on Gatcoin’s cryptocurrency exchange.
“Targeted airdrops bring a completely new dimension to the crypto space,” Cheong adds. “Retailers could, for example, run ‘treasure hunts’ and become the new Pokemon-Go of crypto.”
The new airdrop technology allows retailers to target audiences by demographic, spending preferences and geo-location.
“Businesses can literally drop real money within a one-mile radius of any store. People can spread and share the news of targeted A-Drops for rewards.”
This new technology is the biggest marketing innovation since the invention of coupons, Cheong says.
“The promise of mobile marketing is realised by blockchain technology to enable retailers to offer a much more powerful incentive for people to join and adhere to their loyalty programs. This is the future of marketing and loyalty programs,” he says.
Gatcoin will launch in 2018 with SK Planet Japan’s retail network of over 60 000 stores in Asia.
Gatcoin tokens will be available to the public on October 28, 2017.