What are Digital Tokens and why does it matter?

Different business have been using reward points for a long time. Grocery store points, airlines miles, VIP bonus points, cash back points – all examples of digital tokens. The problem with existing implementations of above examples is that it is very difficult to transfer, trade or gift these tokens. Airlines charge you transfer or gift fees to move miles to another account, other businesses don’t even allow you to do these operations.

What if there was an easy way to move, convert, cash out, gift your tokens from any platform? What if there was an active exchange trading those tokens and consumers could easily understand that Marriott points are worth less than Amex points?

I believe consumers want this capability. In the new, post-COVID19 world, consumers are more mindful of their spending and paying more attention to rewards. Emergence of cryptocurrencies illustrated that having digital wallet is as easy as installing a MetaMask browser extension in your Chrome browser. This is evident by a Reddit platform launching Ethereum-based reward tokens – Link. Consumers want to be able to send, receive, trade those tokens from their wallet outside of the business that issued them.

If your business wants to introduce a consumer Token, please contact me. I have years of experience implementing fully integrated token solutions on Ethereum, RavenCoin, Tezos networks.

Nikolai Lukin

Founder & Principal Consultant at Lukin Technologies

nikolai@lukintech.com or 203-715-4661