Solana Labs has unveiled a blockchain-powered verification platform for brands that offer loyalty programmes. The company behind the popular Solana blockchain has launched ‘Bond’, which is a customer engagement platform that is claimed to be helpful to companies that wish to improve the longevity and security of their customer loyalty initiatives. Bond uses blockchain to create personalised, transparent, and engaging digital experiences, according to Solana Labs.

Solana Labs unveils blockchain-based Bond platform: How it works

Earlier this week, Solana Labs announced the launch of Bond on X (formerly Twitter), stating that it will address critical limitations in the current loyalty programs which includes losing direct relationships with end consumers, sharing private data, risking compromised relationships, and losing strategic control among others.

The blockchain firm says that many brands across industries are trying to refresh their marketing strategies with Web3 elements in an attempt to rope in the interest of younger customers.

Solana says that Bond is able to deliver personalised interactions and digital activations bundled with customer loyalty programmes. The platform will also let brands create an ecosystem on a public blockchain while customising privacy settings for the customer data stored by brands.

“Bond is a technology stack that enables brands to create experiences that strengthen their customers’ allegiance and connection through seamless user-centred design, trusted interactions, and enhanced brand partnerships,” the company’s webpage says.

The sectors of digital collectibles, luxury goods, digital product passports and identities, as well as collaborative campaigns can benefit from this initiative. This platform will be open for use for global brands, according to Solana Labs.

In recent times, brands like Mastercard, Visa, Flipkart, and Lufthansa Airlines are offering loyalty programmes for Web3 and non-Web3 initiatives.