Tag Archives: customer rewards

Royal Bank of Canada wants to use the Blockchain

A good news comes today when Royal Bank of Canada (RBC) confirmed that it is doing tests on the blockchain to improve its consumer rewards and loyalty. 
Royal Bank of Canada has $343 billions of assets and now they want to expand their market using the blockchain.
In fact, during a new interview, Linda Mantia, RBC’s EVP of digital, payments and cards, commented that RBC wants to use the blockchain, focusing on “applications for capital markets, cross-border payments and smart contracts”.
These are her words:
“If you look at every major advancement enabled by technology, there’s always hype. Eighty percent of the money won’t make it, but the last 20% can be massive,” she said.
Bitcoin for loyalty and rewards
According to an interview conducted by Coindesk, she explained the value of the blockchain technology for the RBC’s loyalty project.
In fact, Mantia said that the blockchain would improve the loyalty value for their customers.
“We’ve always said, ‘Your points, your money’. So we don’t lock people into the rewards store. We also let in certain merchants like Best Buy, so clients can use our points to buy from them. We were moving pretty aggressively to let our clients think of it as another form of cash.”
In addition to this, Mantia commented that RBC wants to enlarge their payment products and wants to take advantages from privacy and anonimity of Bitcoin.

About the author: Amelia Tomasicchio is a writer and a journalist of Bitcoin-related news and articles. She started writing about Bitcoin in 2014 and she graduated in Rome with an essay about movie industry related to Bitcoin.

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Amelia Tomasicchio