Vietnam launches first blockchain loyalty programme

SmartOSC and Avalanche have announced the launch of Vietnam's first blockchain-based loyalty program, aimed at enhancing customer engagement in the country and the wider Asia-Pacific (APAC) region.

SmartOSC, a digital solutions provider, has signed a Memorandum of Understanding (MOU) with Avalanche, a prominent blockchain platform, to introduce a new loyalty initiative beginning with one of Vietnam's largest coffee chains. This marks a significant move towards implementing blockchain technology for enterprise-wide solutions.

Kate Nguyen, Head of Strategic Partnerships at SmartOSC, explained the motivation behind this development: "Customer loyalty programs often struggle with low retention and redemption rates, delays, and high costs. That's where blockchain steps in. By partnering with Avalanche, a leader in the blockchain space, SmartOSC is redefining loyalty programs to deliver seamless, secure, and rewarding experiences for users."

The new loyalty platform will offer customers the ability to claim vouchers valued up to 300 million VND, which can be fully managed on-chain and redeemed at the specified coffee chain. With 10,000 wallets already onboard, this initiative demonstrates the practical applications and flexibility of blockchain technology.

The collaboration is highlighted as a pivotal step following SmartOSC's recent report, "Retail Tech Forecast 2025 – Empowering Customers Decode," which explores consumer trends and technological influences. Insights for the report were sourced from renowned market research and consulting firms, including PwC and Cube Asia.

According to the collaboration, blockchain technology offers the potential to provide businesses with scalable, customer-focused solutions, reshaping consumer engagement strategies particularly within the food and beverage industry. This initiative aims to deepen consumer-brand relationships and foster greater customer experience satisfaction.

SmartOSC is leveraging its technological expertise to create a tailored solution matching the coffee chain's needs, while Avalanche contributes its secure and adaptable platform designed for managing extensive network demands. Avalanche's suite of tools allows enterprises comprehensive control over their blockchain systems.

This partnership is part of a strategic agreement formed earlier this year between SmartOSC and Avalanche, aimed at realising their vision of digitising assets through blockchain. Additionally, the partnership includes a collaborative hackathon named "Builders on Avalanche - Making Web3 for everyone," intended to cultivate over 1,000 skilled blockchain professionals across the APAC region.

Laura Nguyen, Head of Avalanche Vietnam, remarked, "We are thrilled to partner with SmartOSC to build an innovative blockchain platform for one of Vietnam's largest coffee chains. This collaboration highlights the importance of strong partnerships in driving meaningful change, and we're confident this is just the beginning. We can't wait to see what 2025 will bring as we continue to push boundaries together!"

Lydia Chiu, Senior Vice President of Business Development at Ava Labs, added, "Vietnam has become a hub for blockchain innovation, and we at Ava Labs are excited to be part of this transformation. Our commitment to training over 1,000 developers at SmartOSC in 2024 is a testament to our belief in the region's immense potential. Together with SmartOSC, we look forward to shaping the future of blockchain in the region and empowering its next generation of experts."

The training programme will consist of workshops, certification courses, and practical projects designed to equip developers with blockchain competencies, thereby invigorating the blockchain talent pool in Vietnam.

Jack Tran, SmartOSC's VP of Growth, commented, "This partnership is an exciting moment for SmartOSC with all the opportunities this presents. With a strategy to promote blockchain adoption, we are constantly identifying and exploring the most cutting-edge, sustainable, and transparent means of empowering our enterprise clients. As we look forward, our dedication to innovation, security, and empowering individuals remains unwavering with a forward-looking, innovative partner like Ava Labs."