Recipe for Success: Sausalitos Announces Blockchain-Powered Loyalty Program

Published On : 05/31/2018

German cocktail bar chain rolls out loyalty program on the blockchain

Germany´s leading cocktail bar and restaurant chain, Sausalitos, has revealed it will roll out a new loyalty program, creating a blockchain-based cryptocurrency in the process.

Sausalito’s ERC20 token, the Sausalitos Coin, will be offered through the qiibee infrastructure, a specialized plug and play solution for loyalty programs on the established Ethereum blockchain.

Customers who download the Sausalitos app will earn Sausalitos Coins every time they make a purchase at the restaurant, simply by scanning a QR code. Sausalitos’ customers will also be able to exchange their tokens for cash, cryptocurrencies, and loyalty tokens from other brands.

A pre-launch will take place starting from June 15, with the Sausalitos app due to be introduced at the cocktail bar chain.

To avail of the qiibee infrastructure, brands need to purchase QBX on the public market. Upon purchase, a smart contract creates the loyalty tokens which are then sent to the brands and all brand tokens — including Sausalito’s Sausalitos Coin and Lattesso’sLattessocoin — are tied to the qiibee token (QBX). For instance, if Sausalitos chooses to push a particular beverage during happy hour, it will reward customers with Sausalitos Coins and, in turn, will ask the beverage brand to purchase Sausalitos Coins. This way, brand tokens have real value outside of the brand context.

The partnership is also significant for qiibee’s TGE which will take place this summer. Sausalitos, like Lattesso, has invested a significant amount in qiibee’songoing private sale.

“As frontrunners in the race to embrace emerging technology, Sausalitos is pleased to be one of the first restaurants in Germany to adopt a blockchain-powered loyalty platform,” said Christoph Heidt, CEO of Sausalitos.

“Traditional loyalty programs and rewards schemes are often seen as short-term fads and there are a number of reasons for this. Most notably, too many reward programs motivate existing or potential customers without delivering real value, usability or freedom. We believe the Sausalitos app offers the solution to these issues by providing higher engagement and customer lifetime value, all while mitigating the risks of a huge data breach by being on the blockchain,” he continued.

With 41 chains located throughout Germany, this is the first time the food and beverage behemoth has ventured into the blockchain space — making it one of the first restaurants in Germany to lead the way with the adoption of this new technology.

Co-founder and CEO of qiibee, Gabriele Giancola, said: “Blockchain has the power to revolutionize the restaurant industry and qiibee is at the forefront of making that happen by providing a loyalty platform and developer interface on which every loyalty application can be tokenized. Customers of Sausalitos will be able to exchange their Sausalitos Coins for food and drinks or, alternatively, they can trade them for other branded tokens, and eventually for cash or cryptocurrencies.”

Wanda Rich

Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.