Mr. Randy Brownell reports
FANLOGIC INTERACTIVE INC. AND BELGRAVIA CAPITAL INTERNATIONAL COMMENCE DESIGN OF BLOCKCHAIN LOYALTY PROGRAM FOR THE GLOBAL CANNABIS INDUSTRY
Fanlogic Interactive Inc. has executed a letter of intent with Belgravia Capital International Inc. for the joint development of the world's first unified cannabis automated industry loyalty rewards program. The program will be developed on a Fanlogic/Belgravia blockchain proprietary platform. The revenue model will include set-up fees and the generation of commissions on smart-contracted incremental and tracked customer purchases.
The program will be customer accessible on mobile and other electronic media distributed apps. The blockchain-distributed app will provide real-time loyalty reward points to customers of licensed distributors and other legal distributors of cannabis medicinal and related products.
The letter of intent covers the goals and specifications of the blockchain development program including: (i) reducing system management costs with smart contracts that report secure, tracked and transparent transactions of off-chain systems; (ii) reducing error and fraud costs; (iii) enabling frictionless systems by placing the entire customer rewards as tokens in the same digital wallet; (iv) increasing market value of the rewards by making the coins interoperable that means exchangeable into other rewards and also providing a liquid market to get cash value if desired; and (v) making the entire process blockchain real time, which means scalable to meet user need.
Randy Brownell, chief executive officer of Fanlogic, stated: "Blockchain is a solution that if utilized properly, allows for the modernization and monetization of traditional and disruptive business lines. Loyalty is our principal focus for deployment of blockchain, and with the relationship with a leading-edge company like Belgravia, we have the opportunity to be a first mover in this loyalty segment. I am thrilled to begin developing this partnership with Belgravia and to explore delivering loyalty and branding to the international legal cannabis industry."
Belgravia is a technology-based finance service provider that is focused on the international legal cannabis industry. Fanlogic is a peer-to-peer social media company generating and retaining customers for B2C (business to consumer) businesses. Fanlogic uses digital referrals, branded fantasy games, sweepstakes, and couponing and loyalty programs. This world-class leader is expanding its digital customer generation and retention system by integrating blockchain concepts into its proprietary SaaS platform. Blockchain models remove impediments to direct business-to-customer relations and real-time transaction completion and value enhancement. An example of value enhancement is real-time crediting of loyalty points on the completion of a digitally recorded transaction. Loyalty points will be generated as blockchain resident tokens.
Mehdi Azodi, president and chief executive officer of Belgravia, stated: "We are absolutely delighted to be expanding our technology platform of services to the legal international cannabis distribution industry. The synergies with the highly experienced team at Fanlogic create a very positive dynamic to work very effectively and in a rapid fashion to execute the developments in the upcoming year. We are working towards introducing advanced loyalty reward programs to Canadian licensed distributors of medicinal cannabis products and will also look to generate services for international players in correlation with legalization; specific to their individual jurisdictions and in accordance with international law. Decentralized blockchain databases will provide customers with real-time shopping choices in a way far more efficient than data aggregators; which currently use centralized systems and interfere with direct business-to-consumer relationships and services."
About Fanlogic Interactive Inc.
Fanlogic's digital lead and sales generation success is driven through its proprietary peer-to-peer referral-based contests, loyalty programs and incentives, coupons, sweepstakes, charitable initiatives, branded games, 50/50 lotteries and charity draws, and social daily fantasy sports and entertainment contests.
Fanlogic is a market-leading digital promotions software company and creator of the Fanlogic Connect platform. Fanlogic Connect provides brands and agencies the ability to create unforgettable social campaigns through unique gamification techniques. Fanlogic Connect grants clients the ability to monetize their social media following, and grow their existing audience while gathering highly valuable demographic and behavioural information.
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