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LEAP - Loyalty Exchange Acceleration Platform

LEAP - Loyalty Exchange Acceleration Platform

May 10, 2022

Innovation Tagline:  Loyalty Exchange Acceleration Platform - help the travel programs to leap forward and reap the benefits of loyalty

Project Keywords: 

Project Members

  1. Sunitha C (@Sunitha C

  2. Sanjeeb Patel (@Sanjeeb Patel)

  3. Gautam Thareja (@Gautam Thareja)

  4. Nikhil Kumar (@NIKHIL KUMAR)

  5. Hardik Roy (@Hardik Roy)

  6. Yash Kumar (@yash Tewatia )

Project Description (no more than 1,000 words including graphics)

LEAP – This platform is to provide solution to stakeholders in Travel Industry, be it travelers. airlines, hotels, or any other travel partners a way to enable them to reap the benefits of loyalty points that are with the travelers.

LEAP is expected to be a platform that would support

  • Consumers(traveler) easy and effective way of redeeming points, and

  • Partners (airlines, hotels, agencies) and efficient mechanism to maintain customer loyalty and make more business through upselling, cross-sell, etc

Problem

Few Problems from the perspective of travelers

  • Too many programs and they are not interoperable

  • Management of the accounts and the rules on earning loyalty points are not clear

Few Problems from the perspective of partners

  • The decreasing rate of redemption in loyalty programs,

  • Tedious partner onboarding process,

  • Loyalty program reconciliation currently happens periodically, and it may be time consuming

Currently, these are the reason the existing solutions are inadequate

  • No open-source trustworthy real-time reconciliation process.

  • No integrated platform that travelers can use to consolidate their travel loyalty points

Solution

The platform has 2 sides of it

  • one for the consumer – through mobile / API frontend. Providing them the ability to check the loyalty points accrued from various travels and providers. And also being able to redeem them

  • one for the partners – be it the loyalty program owners like airlines, hotels, etc, or the partners where the points can be redeemed.

This product in blockchain offers decentralized, traceable, immutable, and Transparent solutions. And doing it in the Hyperledger platform provides the enterprise edge to the blockchain solution.

The minimum viable product would provide

Traveler - the ability for

  • Creation of a traveler digital wallet to hold the points

  • Earn Airline NFT – view that in the wallet

Partner side - the ability for

  • Airline

    • Register as a partner into the platform

    • Create NFT for the loyalty reward

Accomplishment and Team

Sanjeeb and Sunitha – have experience leading engineering teams building travel software

The current team of two has the domain knowledge,

We are looking for people who can help build this solution

Project Plan

In the first year, should be able to provide a platform where the airline can define their loyalty program in LEAP