Here’s how it works
Buzzbike and Blockpool have used blockchain technology to demonstrate how cryptocurrency can be used to deliver brand engagement and help brands to target advertising and engagement.
Buzzbike offers its members a single speed bike (designed by Cooper Bikes, an offshoot of the inventors of the original Mini Cooper), rider pack and rewards such as coffee and gig tickets. Powered by an app that connects to the bike and tracks journey, Buzzbike works with brand partners and organisations to subsidise the cost for the rider by offering fully integrated sponsorships of the scheme.
Blockpool has integrated its blockchain platform with the geolocation elements of the Buzzbike app, enabling brands to incentivise riders to travel to specific areas at specific times with crypto-coins.
David Blundell, co-founder of Blockpool explains: “The geolocation app and beacons on the bikes allow us to leverage data for brands and users. In the simplest sense you can imagine say a film premiere at a cinema. The brand can identify a reward zone around the cinema, and reward riders carrying their branding for journeys within a set radius around the target location. The brand receives targeted exposure and detailed analytics, and riders instant rewards.”
Rewards and incentives for actions are logged within the app, and riders can check on coins earned. Blockpool’s technology works through custom APIs and facilitates mobile app and wallet connectivity.
Tom Hares, CEO and co-founder of Buzzbike commented: “We’re delighted to be working with Blockpool on this exciting project. Bikes present a really interesting and creative platform for engagement, and through integrating blockchain technology we’re able to provide our cyclists with unique and easily accessible revenue schemes.”
Buzzbike’s first partnership was sponsored by Braintree, the payments provider for Uber and Airbnb and an early supporter of Bitcoin. Braintree offered the scheme to London’s startup community. Since the launch six months ago 200 bikes have travelled 40,000 miles, making over 10,000 journeys, showing 70 per cent increase in usage when maximum rewards were on offer.
Blundell concludes: “Our integration with Buzzbike demonstrates the value that can be delivered from applications of blockchain in marketing and advertising. The technology provides a simple means for brands to incentivise and deliver targeted advertising around events, promotions and social activity.”
Blockpool has a vision to deliver real world blockchain solutions to a diverse range of clients, ranging from Blue Chip corporates through to boutique lifestyle brands. It is currently undergoing a Token Exchange Campaign in order to bring further solutions to market. The prospectus for the campaign can be viewed here.