Sessia—a business with offices in New York City, Hong Kong, and Moscow— has announced that they are using a combination of blockchain technology and social marketplace to change loyalty programs for the better. Sessia is a system that utilizes cryptocurrency in conjunction with a social network, like Facebook or Twitter. The system makes the loyalty programs that businesses use more effective in developing customer loyalty and increasing their number of customers.
Narek Sirakanyan, president of Sessia, was interviewed by Inc. magazine where Narek explained how the Sessia loyalty system works through cashbacks and kickbacks. Cashbacks are received by the consumer after making a purchase from a business registered with Sessia. Kickbacks are also received by the consumer when friends also buy a similar product from the same store as a result of his or her recommendation.
He also explained why the cryptocurrency is needed in the loyalty system that Sessia provides. Narek explains, “We came up with the currency ourselves. The word kicks is from the word kickback. This is our internal currency, created, again, on blockchain technology. We pay with it inside the application. In the usual loyalty system: if the company that accrued points to you, for example, closed, then the points burn out. Or, as with Aeroflot: scores scored from a client. And in Sessia, not the company owns your kicks or points, but you yourself. They are decentralized. No one can pick them up or block them. Even if Sessia wants, she cannot – you are the owner of your wallet. This is the main difference from the usual loyalty system.”
The Sessia app is available free for everyone, both consumers and business owners. Business owners will find that it’s easy to set up, with most people being able to do that in less than one minute. Those who want to use the app can get Sessia on the App Store for iOS users and on Play Store for Android users. And when a user makes a purchase using the Sessia app, he or she automatically becomes a member of the Sessia loyalty program.
The system by which a purchase made by a user is shared on the Sessia network and can be seen by friends is for the user to scan the QR code. Once that is done, the check is published on the Feed for the social network and friends can see the details of the purchase as seen on the receipt.
When asked about the case when the user does now want to share the purchase for whatever reason, Narek explained, “The system publishes a check only if I have provided my QR code. If I don’t want someone to see my purchase, I don’t give the code, but then I won’t earn cashback because the business didn’t receive a recommendation from me, that’s fair.”
Thus, users will likely scan the QR code to share the purchase on the social network. It will only for those rare situations when they want their purchase to be confidential. This is because they are motivated to share the purchase for the potential kickbacks that they can benefit from it if a friend makes a similar purchase in the same store.
Also, Sessia users can be assured that their information will not be exposed to hackers because of the use of blockchain technology. This technology records the cashbacks and kickbacks and the information is stored safely and securely.
Meanwhile, Narek wants to emphasize that for users in the US, American currency is converted into digital tokens so that they can be used on the platform. Thus, cashbacks and kickbacks for US users will be in the form of digital tokens. Sessia LLC is at present undergoing the Bitlicense procedure. Currently, there are more than 100 businesses in New York that are using the Sessia platform.
People who are interested in learning more about the Sessia blockchain social marketplace can check out their website or contact them by phone or through email.