A report published by professional services firm KPMG found that tokenization can boost a consumer’s engagement with companies. The whitepaper is based on a survey by KPMG, which highlights the use of blockchain loyalty programs to improve customer experience.
KPMG says integrating blockchain into existing loyalty programs is the best way to introduce tokenization to consumers. According to the company’s survey, 82% of consumers are willing to use tokens as part of the membership of an existing loyalty program. Meanwhile, 81% would trust the use of tokens more readily if they are already a loyalty program participant.
“By using tokenization, companies can develop new forms of value exchange within an existing network, such as allowing consumers to use loyalty points for purchases with different merchants,” said Arun Ghosh, KPMG US Blockchain Leader.
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