Retail Alliance Wants to Bring Gift Cards Onchain

The Retail Alliance Foundation, in partnership with BFG Labs, aims to reshape the multi-trillion-dollar gift card and loyalty market by bringing it onchain.

The Deets

• The Retail Alliance Foundation is a non-profit focused on transparency and equity in the loyalty economy.
• Partnered with BFG Labs, the Alliance introduces SmartCards with blockchain technology.
• SmartCards offer real-time transfers, balance checks, and programmable smart contracts.
• The foundation has partnered with blockchain firms Polkadot and WalletConnect to drive this initiative forward.

The Bulk

The Retail Alliance Foundation officially launched today with a mission to transform the future of gift cards and loyalty programs. Working alongside BFG Labs, a subsidiary of Raise Holdings Ltd., the foundation aims to tackle legacy issues in the gift card industry by introducing SmartCards—next-gen digital tools powered by blockchain technology.

SmartCards go beyond traditional stored value systems, allowing for real-time transfers, balance checks, and customizable rules through smart contracts, giving brands more control over their loyalty offerings. With advanced analytics, retailers can gain insights into customer behavior and optimize their marketing efforts accordingly. 

The foundation has already partnered with notable blockchain players like Polkadot and WalletConnect, aligning itself with leaders in the space to create a more secure and efficient ecosystem for retailers and consumers alike. 

❗ Why It Matters

The shift to blockchain-powered SmartCards could solve long-standing issues in the gift card industry, driving better customer engagement, fraud prevention, and cost reduction for brands.

🔜 What's Next?

More details about the governance structure and token generation event are expected soon, providing further insights into how the Retail Alliance Network will evolve and expand.

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