Implementing a cross-tenant business reward system

Implementing a cross-tenant business reward system

Technical background and problems:

In modern financial systems, asset transactions usually involve point-to-point interactions between multiple intermediaries, resulting in inefficient transactions and difficulty in tracking.

Traditional business reward systems are usually limited to a single merchant, making it difficult to share reward points across merchants.

The introduction of blockchain technology provides the possibility of solving these problems by recording transactions in a decentralized ledger to improve transparency and security.

Solution overview:

The system provides payment processing and other services to multiple merchants through a business cloud platform, and uses blockchain technology to record transactions and allocate business reward points.

For unknown customers, the system associates their transactions and reward points by capturing transaction source information (such as IP address, MIN, UID, etc.) and creating a global ID.

When an unknown customer conducts transactions at multiple merchants, the system confirms the customer's identity by matching the transaction source information and invites him to participate in the business reward program.

Blockchain technology and implementation:

The system includes a blockchain service interface, which is responsible for interacting with other nodes in the blockchain network, performing block verification and consensus management.

Describes the structure of blockchain protocol blocks, including pre-hash, payload hash, timestamp, standard proof and other information, to ensure the integrity and immutability of blockchain.

Introduces the concepts of sidechain and forked blockchain, and how to achieve cross-chain transactions and data sharing through blockchain protocol bridges.

Business Rewards Process:

When a customer makes a purchase at a merchant, the system receives transaction data and assigns reward points to the customer's global ID.

If a customer makes a transaction at another merchant, the system identifies the customer by matching the transaction source information and invites him to confirm the previous transaction.

After the customer confirms his identity, the system invites him to create a single sign-on ID and participate in the business rewards program. The reward points can be used to redeem goods or services at any participating merchant.

Identity verification and data security:

The system increases the reliability of customer identity verification through third-party verification data, and stores the verification data in the blockchain to prevent tampering.

Customers can choose to provide additional verification information (such as fingerprints, retinal scans, etc.) to increase the verification score and obtain more reward points.

Describes how to store customer opt-in consent and withdrawal consent records through blockchain technology to ensure data security and compliance.

System architecture and components:

The system includes multiple components such as host organization, hosted computing environment, database system, blockchain service interface, etc.

The host organization is responsible for running the business cloud platform and blockchain service interface to provide services to merchants and customers.

The hosted computing environment supports a variety of computing resources and database types to meet different storage and processing requirements.

Business applications and value:

By sharing business reward points across merchants, the system increases customer loyalty and merchant sales.

Merchants can participate in the reward program without paying additional fees, reducing marketing costs.

The system uses blockchain technology to improve transaction transparency and security, and enhance the trust of customers and merchants