TARA Platform Presents Blockchain-Based Loyalty Program Application

Loyalty programs have been implemented by many brand to maintain user retention. Various forms of this program have also been presented, ranging from the gamification system, points, cashback, to voucher. To provide new and different options in the form of investment, TARA Platform present take advantage of loyalty rewards with the use of cryptocurrencies or cryptocurrency.

To DailySocial.id, Founder & CEO of TARA Platform Isman Ramadhan Sitorus said his service specifically implements crypto tokenization by converting the value of a point (cash back) from brand or merchant which have teamed up into a token called XTRA.

"Based on the results of personal interviews to 8 to 10" brand, we give a good and positive response to the programs offered by the TARA Platform. So far, 20 . have been recorded brand which will be ready to be released into the TARA application in January 2022."

Currently TARA is still carrying out the acquisition process merchant. By utilizing technology blockchain, they also want to provide a new experience for consumers in loyalty rewards when transacting in various merchant.

No need to carry a lot of cards anymore membership/loyalty If you want to visit a mall or cafe, in the future, consumers can manage their transactions automatically real-time easily through just one app. The launch of the TARA Platform application is expected to enrich the crypto currency ecosystem which is increasingly popular as an investment instrument in Indonesia.

"We are trying so that people can accept this concept through education on the use of the benefits they get from it merchant and avoiding technical education such as 'what is technology blockchain/ crypto' making it easier for the public to understand the programs offered by the TARA Platform," said Isman.

He added that investment does not need to spend money, but it can be done with reward points that has been collected so far can be converted into crypto currency. In the future, there are several targets that the company still wants to achieve, including the development of blockchain technology in 2022. This year the company also plans to focus on raising funds through this method. private investors.

"We are preparing for a time where cryptocurrency become a medium of exchange not only in our own country but throughout the world and this technology is not something that can be avoided so we have to adapt,” said Isman.

Following CoFTRA's rules

​To ensure that the technology applied complies with the rules from the regulator, the company is currently preparing documents for submitting a validation process to the Commodity Futures Trading Supervisory Agency (CoFTRA). As a company that develops blockchain and trade crypto assets, must comply with the provisions of CoFTRA Regulation No. 5 of 2019 concerning Technical Provisions for the Implementation of the Physical Crypto Asset Market on the Futures Exchange.

"The company has also completed a number of documents, one of the most important of which is the NIB with KBLI #62014 (Blockchain Development Activities). Furthermore, we are also processing the registration of the TARA Platform into the Indonesian Blockchain Association, said Isman.

To build an ecosystem that seamless pattern, the company that oversees the TARA Platform, namely KDIGITAL, is currently also targeting cooperation with various large companies for network development through exploring cooperation with LOTTE Shopping Indonesia. LOTTE has the potential to develop and manage 1.700 grocery kiosks and 280 active minimarkets in various regions. TARA Platform will also start looking at cooperation with several marketplace big in Indonesia.

"In addition to carrying out new developments for the loyalty program ecosystem, the TARA Platform also offers crypto acceptance and delivery services between users, as well as other exclusive services for loyal users of the TARA application. a sustainable ecosystem for consumers,” said TARA Platform CTO Aldy Putra.

Referring to the report from the Ministry of Trade of the Republic of Indonesia, currently around 2% or equivalent to 6.500.000 of the total population of Indonesia have transacted crypto with a total value of IDR 370 trillion and it is predicted that this number will continue to grow.