So, you’ve accumulated 500,000 frequent flyer travel miles and decided now is the perfect time to use them to fly away for the weekend. Maybe you might even cash those points in for an upgrade to first class.
But there’s a problem – nothing is available using your miles. And not being able to use your hard-earned points is a common and frustrating problem
PriceCoin has a potential solution that will allow you to avoid the limitations of loyalty programs. Using its program, points you earn can be used immediately, and you’ll even earn points any time a transaction is completed on the network.
Using blockchain technology to create a secure travel economy, PriceCoin allows consumers to turn data into dollars via an earning structure. In addition to claiming points by using their credit card to book travel, consumers are rewarded PriceCoins for each transaction they make, as well as every booking made on the network.
PriceCoin CEO Eddie Ibanez answered a few Block Tribune questions.
BLOCK TRIBUNE: Walk me through how PriceCoin works
EDDIE IBANEZ: In points-based loyalty and rewards programs, travelers must often wait until points settle and accrue before using them. Even when they reach maturity, their use is limited. Earned rewards only become of value when spent on the program for which they were issued. PriceCoin solve this problem by bestowing value to points the moment they’re earned as they can be redeemed immediately on the PriceCoin network.
PriceCoins operates on a marketplace or exchange model where points are accepted as currency among our community of partners. Loyalty points earned from these partners become converted into coins which act as a universal currency on the platform. PriceCoin gives travelers the freedom to book travel, earn rewards and use them for just about anything; more discounted travel, merchandise, even gift cards redeemable at Starbucks, Target, Amazon, and over 2,000 charities.PriceCoin offers customers a faster and easier-to-use platform that allows travelers to get the most out of their rewards points.
BLOCK TRIBUNE: What data are you sharing?
EDDIE IBANEZ: PriceCoin doesn’t necessarily share the data of the platform’s users with anyone. PriceCoin turns data into dollars with the help of our data scientists combined with our algorithm, which analyzes thousands of hotels prices so we can predict and serve up the best possible deals for our users.
BLOCK TRIBUNE: Is this available for all hotels and airlines?
EDDIE IBANEZ: Yes, users can book flights hotels and even rental cars on the website- around 700,000 hotels worldwide in over 20,0000 cities are available for on PriceCoin, ranging from five star suites to budget friendly hotel chains. In addition, people booking through us are able to access over four million real and unbiased reviews.
BLOCK TRIBUNE: Any way else it can be used?
EDDIE IBANEZ: No other loyalty system like this exists. We are transforming the online travel space by fusing blockchain with traditional loyalty rewards programs. We are already in the works of applying this technology to other industries and we plan to see an uptick in adoption of this tech throughout the year.
BLOCK TRIBUNE: What are the PriceCoin rewards you earn based on – percentage of spend?
EDDIE IBANEZ: Price Coins are earned by how much users spend on booking travel. So when you spend two hundred and fifty dollars, you earn the same amount in PriceCoins. Another feature that is unique to our rewards program is that when anyone else on the network , anyone who has ever booked with PriceCoin earns
BLOCK TRIBUNE: How can you earn points any time a transaction is completed? Are you tied into a network with your computer?
EDDIE IBANEZ: What makes PriceCoin truly unique is that as travelers book on the platform, they are simultaneously earning rewards for themselves while also benefiting from every transaction made on the platform. This difference is key in not only incentivizing consumers, but also attracting investment from industry heavy hitters, such as Burch Creative Capital. Every person that owns a PriceCoin is now an active investor of it!
BLOCK TRIBUNE: Is this available on all platforms – computer, mobile, tablet?
EDDIE IBANEZ: Yes, users can navigate to GoPriceCoin.com via any browser on desktop or on the mobile web.
BLOCK TRIBUNE: Are you doing an ICO? Details on when/where/how
EDDIE IBANEZ: This is not currently a cryptocurrency, but we do incorporate technology used by cryptocurrency. Every transaction on the PriceCoin network is signed with a secure cryptographic hash ensuring you stay 100 percent anonymous. PriceCoin abides by and upholds modern security practices to bring its customers the best travel experience possible.
BLOCK TRIBUNE: How does your company make money?
EDDIE IBANEZ: Our monetization is based on bookings. Everytime a consumer makes a booking on the platform, PriceCoin takes a nominal percentage.
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