Coupon Industry Leverages Distributed Ledger Technology

Vandana  |  Apr 25, 2020

Coupon Industry is seeing a huge spike while people are staying at home during lockdowns due to COVID-19 pandemic. These industries are now leveraging the distributed ledger technology. This will help to provide transparency in the coupon industry, particularly for the digital coupon market.

Coupons have been used for a very long time now to avail discounts at the grocery stores. Such industries are growing rapidly and have now reached to the multibillion-dollar enterprises. People are using digital coupons to redeem the coupons online also. Recently, Coupon Bureau has made a huge announcement related to digital coupons. According to this bureau, Hedera Consensus Service (HCS) will be used in order to provide the data related to coupon registration and redemption.

Coupon industry rising amid COVID-19 pandemic

Amid this whole COVID-19 pandemic, it is quite clear how the coupon industry is rising and this is the great opportunity for the whole industry. Digital coupons are playing a major role during this lockdown situation across the world for the whole industry.

Brandi Johnson, CEO of Coupon Bureau that the coupon demand has increased by almost 30% in just a few weeks of this pandemic. Digital coupons are also playing a major role to deal with the frauds which are associated with paper coupons. Digital coupons are encouraged because a lot of retailers have been facing some huge losses due to the frauds associated with paper coupons.

Bureau to support stakeholders within the ecosystem 

The major purpose of Coupon Bureau is to provide support and assistance to all the stakeholders of the coupon industry. Distributed ledger technology is also going to play a huge role to develop and grow the whole industry.

HCS is also going to help the Coupon Bureau to gain the instant settlements of the digital coupons. There is also a great future of the coupon industry’s association with blockchain technology. Some of the great financial service providers are also applying blockchain technology to their services to take it to another level.

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