Use an enterprise blockchain solution like FALKOR SI for rewards and accreditations.
There are multiple elements within rewards and recognition programmes that need to be considered in terms of overall technology solution: the creation of rewards and recognitions, the exchange or transfer of them, the tracking and control over who can create and transfer them – and what parties are holding them at any given time.
Multiple and simultaneous elements mean that inaccuracies and the provable number of rewards and recognitions, ownership, exchange, control, and overall assurance is difficult and not easily scalable.
Not using one would lead to an unknown, and non provable way in which rewards and recognitions are generated. Their ongoing exchange and transfer across multiple users and organisations wouldn’t be proven without an auditable way to validate which users hold what, at any given time.
Also the commercial model relies on different types of processes to work around the rewards and recognitions, for example peer to peer or formal accreditation. Without support for these models in an efficient way the full commercial potential can’t be achieved.
The FALKOR private digital token exchange layer works alongside its data exchange layer, to control the minting of digital tokens to serve as rewards and accreditations in this use case. The layer allows for the creation, exchange, transfer, and management of tokens through the Falkor SI API and subsequent blockchain transactions.
These transactions are managed with financial services levels of transaction accuracy, and are provable at any point in time.
All documentation and metadata pertaining to the rewards and accreditations can be managed via the data layer in parallel, and through the same Falkor SI API.
With years of enterprise blockchain, distributed ledger, decentralised network design and deployment expertise under our belt, our expertise is second to none. So feel free to get in touch and find out what we could offer you.