Hedera Hashgraph announced a new major enterprise customer to the list of companies using its blockchain. The Coupon Bureau (TCB) is the latest customer that aims to develop its Universal Positive Offer File platform on Hedera Consensus Service (HCS).
TCB works with giants in the consumer product goods market and is one of the leading firms providing coupon data exchange technology.
The Universal Positive Offer File from TCB will provide a standard universal coupon for the retail industry.
“The new universal digital coupon will provide a standardized and secure mechanism for coupon distribution by utilizing a singular centralized database of offers, backed by a decentralized public ledger, which can be used across the paper, mobile, or online commerce,” according to the Hedera’s blog post.
The real reason behind TCB’s plans to create a universal coupon system is fighting fraud. Every coupon in the new system will be recorded on the Hedera network, and its security is guaranteed through the blockchain infrastructure.
The Coupon Bureau’s new coupon application is called AI (8112) that will replace the current legacy application, AI (8110), and enhance the security at top levels. The company plans to reach 70% of grocery retailers in 2021 with a new coupon system.
Hedera Hashgraph is one of the leading enterprise-focused blockchains in the industry. Thanks to their partnership with some companies like IBM, they have successfully attracted new enterprise customers in the past year.
TCB execs believe the new coupon form that leverages secure digital payment features can grow very fast, especially in the current situation of the pandemic.
“The COVID-19 outbreak has required the coupon and retail industry to find innovative ways to meet consumers’ changing behavior, especially in the context of dramatically rising e-commerce sales and online deliveries,” said Brandi Johnson, CEO of The Coupon Bureau.
“There has never been a more urgent need for a universal digital coupon that crosses retail mediums, verticals, and purchase environments, to provide consumers and retailers with the added layer of trust to serve their needs. Today, we are proud to roll out the roadmap for sunsetting old coupon formats, and delivering a cohesive couponing experience for both retailers and consumers.”
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