Menlo Park, California; Vancouver, British Columbia; and Boulder, Colorado–(Newsfile Corp. – July 12, 2021) – Intellabridge Technology Corporation (CSE: INTL) (“Intellabridge”) today announced plans to release a blockchain-based loyalty token point system for its customers and corporate partners.
This next-generation loyalty token point system is expected to provide multiple benefits to customers of the Kash blockchain neo-bank and to Intellabridge partners, including free debit cards, cash back on transactions, discounted subscriptions, lower fees, increased interest rates on savings accounts, and other rewards within the partner network. The loyalty token points will initially be available to the first 100,000 Kash beta users in the coming months.
The Kash product provides customers with an easy way to transfer money into the decentralized financial ecosystem using banking transfer services from customers’ existing banks or through global cryptocurrency exchanges. Intellabridge uses the multi-billion dollar Terra blockchain, developed by TerraForm Labs, which was founded by a Stanford engineer, with investment from Coinbase, Robinhood CEO Vladimir Tenev, Delphi Digital, and Galaxy Digital Holdings Inc. Intellabridge has built upon Terraform’s existing technologies with multiple layers of cybersecurity mechanisms for consumer protection and concierge customer service. The combination of cybersecurity, customer service, and traditional banking integration capabilities enables mass audiences to earn a stable 10% per annum on deposits by directly accessing decentralized financial markets.
“Our vision for the Kash loyalty point system is to create a rewards system that is similar in many ways to the way that airlines, hotels, retail and financial services reward loyal customers, but, by leveraging blockchain technology, we can make the rewards exchangeable between members of the Intellabridge partner network and benefit end customers in a very powerful way,” said John Eagleton, Intellabridge CEO. “6.7 trillion points are issued each year to 3.3 billion members representing $51 billion USD, but these loyalty reward systems need an upgrade, with unredeemed points representing more than $15 billion dollars in balance-sheet liabilities for US based companies. We intend to help customer loyalty programs realize their full potential by tracking reward points on the blockchain and providing transparency into the entire ecosystem. Blockchain provides a ledger of transactions shared across a network of participants, and we plan to facilitate the exchange and use of loyalty points among individuals and companies without requiring pre-determined corporate alliances. We are proud to be a pioneer in helping to make loyalty points on the blockchain a global standard in the future.”
Intellabridge will release a whitepaper detailing both the finalized mechanics of the blockchain-enabled Intellabridge Kash points token system along with a product roadmap that extends the long-term vision of the system to corporate partners. The aim is to release the whitepaper, along with the blockchain-based point system, in Q3 2021.
ON BEHALF OF THE BOARD of DIRECTORS
INTELLABRIDGE TECHNOLOGY CORPORATION
Maria Eagleton, COO
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This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
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