Life Leadership is a loyalty program that is powered by cryptocurrency. Participating businesses can offer discounts to their customers much in the same way as frequent flyer miles work. This loyalty program could one day solve some of the biggest challenges facing the crypto space.

Issues Hindering Crypto Adoption

Some of the issues hindering the mass adoption of cryptocurrencies are slow transaction speeds, price volatility, lack of knowledge, high fee, and lack of enough users. This project wants to provide solutions to all these issues in one platform.

Price Volatility

Volatility is a major issue that affects crypto. As a result, most businesses have refused to accept crypto payments. The creators of the C4 project claim they have found a solution to this problem. It will ensure that more businesses are willing to accept crypto.

Slow Speeds

Crypto transactions can take as long as 30 minutes to process. This project also claims to have found a workaround to the proof of work mechanism, which has been blamed for the slow transaction speeds.

High Transaction Speeds

The proof of work mechanism comes with high fees since miners expect to be compensated for their effort. The company has identified a new type of verification method to reduce this cost.

Low Literacy about Crypto

Many people today have no idea how crypto works. This app makes it easy to use crypto without the need to understand how all the background processes work.

Few Participants

The platform claims to have collaborated with thousands of stores nationally. It will help to ensure there are enough participants in the market.

The Meaning of C4

The C4 stands for Community, Content, Commerce, and Cryptocurrency.

Content is the services and products that are provided by stores nationally. Commerce stands for the exchange of money between clients and store owners. This includes credit card companies that facilitate these transactions. Community here stands for the markets that help to create a customer base. Lastly, cryptocurrency is offered by the company, which has created the blockchain-powered platform.

How the Program Works

The platform works in a similar manner to existing loyalty programs. However, there are some key differences. To use this platform, you need to download the app and scan the QR code of a participating business. They will then give you a discount and crypto will be credited to your account. These cryptocoins can be exchanged for fiat if you need the cash. The reason for receiving payment in crypto is that the processing fees are much lower. Best of all, joining this program is free. It’s a great way to take advantage of stores that accept bitcoin.

Benefits

  • You will not need to carry different loyalty cards.
  • Rewards can be redeemed at numerous stores.
  • You can use the platform online or in person.
  • The reward points never lose their value.

DIBS Cryptocurrency

DIBS are the native cryptocurrency for this platform. Once you scan the QR code, you are paid in DIBS cryptocoins. There is no limit on the DIBS you can store in the Life App crypto wallet.

Photo Source: Life Leadership Twitter

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

You May Also Like

Crypto Markets Grow $22 Billion This Week As Investors Eye Bitcoin Halving & The Stock Market

Cryptocurrency markets added another $22 billion in value over the last week,…

Harmony expands to India, Bolsters the growth of DeFi in the rapidly growing FinTech sector

Bangalore, Feb 26, 2020: Harmony, a Silicon Valley-based scalable blockchain protocol , announced…
IOTA Foundation & Japanese Government Working On Predictive Maintenance Systems

IOTA Foundation & Japanese Government Working On Predictive Maintenance Systems

The IOTA Foundation announced that it would collaborate with a Japanese government…

Dlive: One of The Coolest Live Stream Platforms Built On Blockchain Incentivizing Everybody

Social media has taken over the digital age and shows signs of…

XRP Legal Developments Priced In? XRP Outperforms Bitcoin On The Day Despite Amended Complaint

Photo Credit To Pavlos Giorkas Via Flickr For the last year, Ripple…
Walmart Might Push Into Metaverse and NFT Markets

Walmart Might Push Into Metaverse And NFT Markets

Walmart could soon join the metaverse, according to a recent CNBC report.…
bloXroute

bloXroute Labs Launches BDN V1: With Support For Ethereum And Bitcoin Cash

Chicago, IL – Dec 3, 2019 – bloXroute Labs, a technology start-up that built…

bloXroute Labs Reveals Results of Bitcoin Cash Mining Test

BLOXROUTE LABS REVEALS RESULTS OF BITCOIN CASH MINING TEST Bitcoin miners and…
Huobi Global

Huobi Global Offering Flexible Savings Products For Bitcoin & USDT

Huobi Global, a leading cryptocurrency exchange has recently rolled out flexible savings…

Amazon Crypto: What An Entry Into the Cryptocurrency Space Could Look Like For The Tech Giant

In July this year, the Amazon VP confirmed that the company had…