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American Express reviews Blockchain for customer rewards systems



Travel and merchant department of American Express is weighing the use of blockchain in the framework of a personalized system of customer rewards, public filings display.



23.Oct.17 5:38 AM
By Daria Zaytseva
Photo Toinnov.com

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American Express reviews Blockchain for customer rewards systems

A new patent application, published last week by the U.S. Patent and Trademark Office, is the concept of providing special types of rewards, including points, a virtual currency or specific items attached to a product.

The filing of applications indicates that the financial giant will make these proposals by collecting personalized customer data, such as their historical spending patterns.

The application refers to the technology as one resource for storing and updating information among a number of possible approaches.

The fact that the firm would move to seek intellectual property claims around the use of technology may not be surprising, given the interest around it from some competitors of the credit card provider. Currently, American Express is a member of the Hyperledger blockchain consortium, and when it joined in January, the company suggested that it look for a blockchain as a way to potentially recycle its current services.




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