Solana Bond Blockchain Customer Loyalty Platform Unveiled by Solana Labs

Solana's Bond platform will allow companies to create digital experiences using blockchain technology.

Written by Radhika Parashar, Edited by David Delima | Updated: 14 June 2024 15:36 IST

Photo Credit: X/ @solana

Solana Labs is the company that developed the popular Solana blockchain

Highlights

Solana Labs was founded in 2018
The firm says Bond offers blockchain verification for loyalty programmes
Solana Labs' Bond platform will be accessible to global brands

Solana Labs has unveiled a blockchain-powered verification platform for brands that offer loyalty programmes. The company behind the popular Solana blockchain has launched ‘Bond', which is a customer engagement platform that is claimed to be helpful to companies that wish to improve the longevity and security of their customer loyalty initiatives. Bond uses blockchain to create personalised, transparent, and engaging digital experiences, according to Solana Labs.

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Earlier this week, Solana Labs announced the launch of Bond on X (formerly Twitter), stating that it will address critical limitations in the current loyalty programs which includes losing direct relationships with end consumers, sharing private data, risking compromised relationships, and losing strategic control among others.

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The blockchain firm says that many brands across industries are trying to refresh their marketing strategies with Web3 elements in an attempt to rope in the interest of younger customers.

Solana says that Bond is able to deliver personalised interactions and digital activations bundled with customer loyalty programmes. The platform will also let brands create an ecosystem on a public blockchain while customising privacy settings for the customer data stored by brands.

“Bond is a technology stack that enables brands to create experiences that strengthen their customers' allegiance and connection through seamless user-centred design, trusted interactions, and enhanced brand partnerships,” the company's webpage says.

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The sectors of digital collectibles, luxury goods, digital product passports and identities, as well as collaborative campaigns can benefit from this initiative. This platform will be open for use for global brands, according to Solana Labs.

In recent times, brands like Mastercard, Visa, Flipkart, and Lufthansa Airlines are offering loyalty programmes for Web3 and non-Web3 initiatives.

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Further reading: Solana Labs, Solana Bond, Cryptocurrency

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More