PRESS RELEASE: Babysitting application Bsit boosts loyalty through Blockchain.
Bsit, an application built to find trustworthy babysitters nearby, dipped its toes into the world of blockchain and cryptocurrencies. Bsit issued their own token “BSIT” to solve retention challenges they were experiencing. The BSIT tokens are received as participation rewards in the Bsit app to benefit from its in-app advantages.
The ownership of BSIT tokens enables ecosystem stakeholders to benefit from a variety of advantages within the Bsit ecosystem such as subscriptions discounts, booking givebacks, increased referral rewards, fees reductions and visibility boosts. With Bsit’s gamification model, users will be incentivized to accumulate as many BSIT tokens as possible and store them in their integrated digital wallet (from Venly - previously Arkane Network) in order to unlock in-app advantages.
“During the Covid crisis, we took the opportunity to completely rebuild our mobile app on a new technology. In that process we brainstormed on how to strengthen our two main organic growth levers : our referral and loyalty programs.
We came up with a program where 1 loyalty point would be equal to significant lifetime financial advantages within the Bsit Ecosystem (in subscriptions discounts, booking givebacks, increased referral rewards, fees reductions and visibility boosts, more to come). With such amounts in the equation it was imperative to build this program on a robust technology to ensure cost efficiency, security, and flexibility in a frictionless system.
We decided to work with Deloitte on all the regulatory/compliance aspects of our new “utility token” and with Venly.io as wallet provider (integrated in our mobile app).
With an increasing number of users willing to pay or get paid in cryptocurrencies, our new loyalty program is a first step into this rapidly evolving technology. Following giants such as Paypal, Visa, Facebook, ... there are many additional ways (for ads, payments, …) the BSIT token could be used in the future as we add more products, services, features and stakeholders to the Bsit ecosystem”
Bsit decided to host its token on the Polygon blockchain for its very low energy impact as well as near-zero transaction costs. Polygon is one of the leading layer 2 solutions on the Ethereum blockchain and has gained a lot of traction by projects lately thanks to its speed and efficiency.
Venly (previously Arkane Network)
“We’re extremely surprised by the ease of implementing blockchain with Venly’s tools. Our developers that had no background in blockchain were able to implement the wallet services and understand everything within a few hours.” François Jacquemart - CEO Bsit
Venly is, just like Bsit, a Belgian company. Venly is a blockchain technology provider bringing blockchain tools to help traditional as well as blockchain native companies to scale and secure their user onboarding. Every Bsit user will now automatically get a digital wallet linked to their account, managed by Venly through its APIs.
“This use case is for us a real break-through. Helping traditional businesses like Bsit embrace the power of blockchain and solve business challenges with our products. We believe Bsit is an example for many other traditional companies, and hope they will be able to prove great results in terms of onboarding and retention thanks to their BSIT token.” Yan Ketelers - CMO Venly
Founded in 2015, Bsit is a childcare mobile app, backed by Connect Ventures and Kima Ventures, now serving more than 550.000 registered users in Europe.
Bsit wants to make parenting easier worldwide. To that end Bsit is currently developing and integrating additional services for parents such as school support, extracurricular activities, housekeeping, pet care,...
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About Venly (previously Arkane Network)
Venly is a blockchain technology provider. It offers users of blockchain projects digital wallets to store assets with a native solution that also works on mobile devices. Venly also recently launched the Venly Market as the first-ever peer-to-peer and blockchain agnostic NFT marketplace. And with Venly’s NFT-tools, blockchain games, projects, and decentralized applications can tap into an entirely new revenue stream without having experience in blockchain engineering or a complex regulatory framework.
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