ZURICH, October 24, 2017 /PRNewswire/ --
qiibee, the decentralized blockchain-based loyalty eco-system, today announced its upcoming Token Generation Event (TGE) set to commence later this year. Based on the Ethereum blockchain, qiibee aims to bridge the gap between modern day loyalty systems and the cryptocurrency industry.
qiibee was first founded in 2015, by Gabriele Giancola and Gianluca Giancola, to consolidate the loyalty market by centralizing an array of brands and merchants on one application which let customers earn and spend one single loyalty currency. The platform also rewarded users for activities such as engaging with brand-related-user-generated content. Launched in late 2016, the prototype accumulated over 6 million interactions through its work with more than 900 local, national, and international brands; such as Subway, Burger King, and the Swiss Federal Railway.
qiibee Co-Founder and CEO, Gabriele Giancola said: "The current loyalty system market faces major challenges, from high fragmentation and operational inefficiencies to concerns with centralization and data ownership. By creating a loyalty platform and a developer interface, we not only provide organizations and brands with the opportunity to tokenize their own applications but revolutionize the outdated market. Our upcoming Token Generation Event will allow us to reach the full-potential of our ambitious project while encouraging the larger loyalty community to come join us on our journey."
Applications built on the qiibee infrastructure benefit from increased data security, lower management costs, no liabilities compared to traditional loyalty models, and no resources needed for the development of smart contracts or the integration of a blockchain. qiibee users are exempt from a central data authority, receiving tokens with a real value instead of the traditional point system which provides users with the freedom to exchange these tokens within the qiibee ecosystem.
"While building the qiibee prototype over the past year, we came to the conclusion that we were not fully solving the challenges faced by the loyalty sector. We believe that loyalty program owners, companies or developers should have the freedom to build a bespoke application that meets their needs while not concerning themselves with the integration of blockchain technology and tokenization. With the introduction of our new solution, we are offering each stakeholder the tools they need to create a customized loyalty program," added Giancola.
The qiibee advisory team includes Alexander Braun, serial entrepreneur and blockchain enthusiast, Reto Hartinger, a Swiss pioneer in the ICT sector, Oliver Gnehm, Attorney-at-Law and Partner at Bader Gnehm & Partner, Michele Fabio, Senior director of DeinDeal AG, Prof. Dr. Sven Reinecke, Director of the Institute of Marketing at the University of St. Gallen, and Prof. Dr. Winfried Koeniger, Professor of Economics and Director of the Swiss Institute for Empirical Economic Research at the University of St Gallen.
qiibee partnerships include, Lakeside Partners AG, a venture capital and private equity firm, Loylogic, the world's leading loyalty innovator, OpenZepplin and Securify, an open framework that builds smart contracts, Wachsman PR, a leading global blockchain PR Agency, Bader Gnehm & Partner, a Swiss international law firm specialising in business law, and the Swiss Commission for Technology and Innovation.
"The funds secured through our token generation event will fuel the creation and the development of our loyalty ecosystem, further assisting us in our mission to help program owners, companies, and developers to create their own customized loyalty program using the qiibee developer kit. With the potential to entirely disrupt the $300 billion loyalty market, we are opening up the crypto community to millions of mainstream users," concluded Giancola.
qiibee's Token Generation Event will commence in Q4 of this year. For more information on qiibee, visit: https://tokensale.qiibee.com/
qiibee, the decentralized, blockchain-based loyalty ecosystem, is providing a loyalty platform and developer interface on which every loyalty application can be tokenized. With a vision to bridge the gap between modern day loyalty systems and the cryptocurrency industry, qiibee was founded in 2015 by Gabriele Giancola and Gianluca Giancola. qiibee will provide support to program owners, companies and developers by offering their developer kit with everything needed to create a customized loyalty program. The qiibee platform is based on the Ethereum blockchain with an underlying ERC20 token, QBX. For more information, visit: https://tokensale.qiibee.com/