QBX Re-Imagined: Everything You Need to Know About QBX Utilities

qiibee foundation is a non-profit organization whose mission is to build a decentralized, scalable and interoperable standard for all loyalty programs and incentive systems powered by the qiibee blockchain and the QBX. With qiibee’s blockchain-based loyalty infrastructure, brands can easily integrate with our blockchain protocol to tokenize rewards and store all rewards-based transactions while their customers enjoy complete control of and transparency about their blockchain loyalty tokens.

In the last 24 months, we have achieved several milestones and have now implemented new features for our QBX token. Let’s go deeper now.

What is QBX Token?

The QBX token is the native token of the qiibee loyalty ecosystem. It enables developers to tokenize their loyalty currencies and transact on the qiibee blockchain. Consumers also get rewarded with QBX tokens for being members in the qiibee VIP club, enabling them to access exclusive rewards. Our vision is to create a global and decentralized loyalty ecosystem governed by a selected consortium of nodes, which get rewarded with QBX for validating transactions.

QBX Token Utilities

Previously, QBX token utilities were only available to companies, but they have now been expanded to incorporate consumers and strategic partners. As the qiibee ecosystem expands and grows new partnerships, we are sure to establish more utilities, but for now, let’s break down the current ones.

Utilities for Companies

Tokenized loyalty programs leverage blockchain technology to record loyalty transactions, remove reconciliation issues via one single source of truth, and protect loyalty tokens and customers while exchanging them. The loyalty programs that tokenize their loyalty currencies on our blockchain are the backbone of our ecosystem. They enhance the ecosystem’s growth while giving their customers the security they need.

To access our loyalty ecosystem and efficiently trigger transactions, developers need QBX tokens to issue a new loyalty token, trigger earn, spend, and exchange transactions and enable customers to exchange loyalty tokens to QBX.

Utilities for Consumers

QBX gives customers access to exclusive rewards and access to the invite-only QBX VIP Club where they can multiply their rewards, gain access to limited perks from the ecosystem and receive personalized qiibee merchandise. Also, all customers staking their QBX in the QBX VIP Club will be rewarded with weekly QBX rewards.

Customers will be also able to exchange QBX into loyalty tokens to boost their loyalty balance andswap QBX to limited NFTs of the brands in our loyalty ecosystem.

Utilities for Strategic Partners

For strategic partners, staking QBX enables validators to verify transactions in the qiibee blockchain, govern the ecosystem and receive ecosystem rewards.

With these new features and the upcoming QBX VIP Club, the community will grow and use their tokens for new activities.

Our team is so excited about the new updates to our loyalty ecosystem!

We have added a lot of new features that we think you will benefit from. And with the launch of the QBX VIP Club (stay tuned for our next blog post!), you can use your tokens for even more activities within our rewards ecosystem that will help you grow your earnings and take QBX to the next level.

Stay tuned and follow us on Twitter and Instagram and join our vibrant community on Telegram for more information about our ecosystem.