Vietnamese IT services provider FPT Software has struck a deal with Japanese sports merchandising company Canow to develop and launch a blockchain-based customer loyalty platform.
The new customer loyalty platform, dubbed YELLtum, is to be underpinned by FPT Software’s enterprise blockchain platform, akaChain.
FPT Software’s akaChain is an end-to-end, permissioned, multi-chained network that is designed to assist in transforming enterprises across various sectors, including retail, banking, finance and insurance, among other verticals.
“The core of YELLtum is a private token management service on blockchain,” said Long Nguyen, head of blockchain research and development at akaChain. “It can free users from information security concerns and allow them to fully enjoy their shopping experience, as well as enable enterprises to serve their customers better.
“From a technical point of view, it is a solid use case that fully demonstrates advantages that blockchain technology brings to modern businesses instead of the cryptocurrency scheme that we normally see,” he added.
By developing YeLLtum, FPT Software claims that akaChain has demonstrated the practical applications of blockchain technology, moving beyond its use in cryptocurrencies to bring broader transparency, scalability and innovation to businesses.
It is hoped that the YELLtum platform will radically improve Canow’s customer experience, with the platform expected to host a large community of approximately 50 sports teams, 300,000 customers and 3,000 member stores by the fourth quarter of 2022.
The IT provider claimed that the YELLtum platform comes with an intuitive design and a core that serves as a blockchain-backed token management engine.
The platform is being designed to provide Canow’s customers with a secure way to top up fiat currency and convert it to YELL coins, which can be used for purchasing such items as sports team’s merchandise, tickets or coupons.
According to FPT Software, the data structure of blockchain, offering incorruptible on-chain data and transparency, will let sports fans preserve their personal information and digital assets on their token wallets.
“I am pleased to announce this business alliance with FPT Software,” said Ryohei Osaka, Canow COO. “The use of data is a particularly important feature of ‘YELLtum’ project.
“By introducing FPT Software’s high technology to YELL Databank, which has a proven track record of providing services to the world's leading IT companies and is certified by the Vietnamese government, users will be able to transfer fan tokens and companies will be able to operate their data on YELL Databank with a high level of security and convenience,” he added.
The deal comes several weeks after FPT Software revealed it had deepened its partnership with Sitecore, striking a deal that sees it promote the adoption of the software vendor’s digital marketing solutions to a wider range of businesses, with a particular focus on the Japanese market.
FPT Software has partnered with Sitecore since 2015 and has delivered Sitecore solutions to customers in the logistics, aviation and energy industries.
In May, FPT Software struck a deal with US-based artificial intelligence (AI) and machine learning platform provider Dataiku that sees it distribute the vendor’s platform across the region.