Blockchain Company LoyalCoin Collaborates with Grab in Giving Rider Discounts

Grab Philippines has partnered with local blockchain company LoyalCoin, enabling LoyalWallet users to use LoyalCoin as discounts for their Grab transportation. These discounts range from PHP50 to PHP100.

LoyalCoin is a local company that offers blockchain services that support Bitcoin, Ether, and XEM, and other cryptocurrencies.

"LoyalWallet application is the primary consumer hub for earning and spending the digital asset and conversion to other currencies. LoyalWallet users can easily input the generated codes as promos before booking their Grab rides," according to a statement given by LoyalCoin.

Grab Philippines head for business Steven Martin Luchangco said that the collaboration improves the company's vision of giving its customers convenience in day-to-day transactions.

"Our partnership with LoyalCoin is highly aligned with our goal of bringing our consumers closer to the things that matter to them and providing services that support their everyday needs," he was quoted as saying.

What is LoyalWallet?

LoyalWallet uses digital currency, and is part of a crypto digital wallet service of LoyalCoin.

It's a "universal customer loyalty app." It helps you earn reward points and redeem rewards when you ride merchant partners, such as Grab.

Paolo Bediones is the current COO of LoyalCoin. According to him, part of the company's advocacy "was also to do educational campaigns among the public on the world of cryptocurrency and the technology behind it, which is the blockchain."

You can learn more about LoyalCoin here.

About Digital Currencies

Investopedia defines a cryptocurrency as a digital or virtual currency that uses cryptography for security.

Blockchain Services, on the other hand, is a decentralized, public digital ledger where transactions made in bitcoin or other cryptocurrencies are recorded chronologically and publicly.

According to William Mougayar the blockchain "is at the same level as the World Wide Web in terms of importance." It's internet that is "more decentralized, more open, more secure, more private, more equitable, and more accessible." Mougayar also added that in the future,  many blockchain applications will replace many "legacy Web applications."

You can learn more about BlockChain technology by visiting this site.