SAN FRANCISCO, CA, June 25, 2019 - (ACN Newswire) - Loyyal, the industry leader in bringing blockchain technologies to
today's loyalty and incentive programs, announced the award by the Korea Intellectual Property Office of Patent number
10-1955833, for Distributed Ledger Protocol to Incentivize Transactional and Non-Transactional Commerce. This latest
addition to Loyyal's growing portfolio of intellectual property covers incentive and loyalty program implementation
methods using distributed ledger protocol systems including blockchain technologies, to incentivize transactional and
non-transactional behavior.
This same intellectual property along with other associated patents at various stages of approval in over eight
territories globally, including patent grants awarded in Japan and Singapore, provides Loyyal's clients in Travel & Hospitality, Financial Services, and other sectors the assurances needed to expand deployment of the industry's first
enterprise-grade blockchain solution for loyalty and incentive programs. By enhancing their programs' liquidity and
interoperability via Loyyal's technologies, these market leaders help unlock a portion of the hundreds of billions of
dollars in value locked up in member balances today. Key to this particular patent issued is the recognition that the
tokenization and management of loyalty program incentives - traditionally points, miles, or "stars" - need not only be
for typical behaviors such as purchases; it includes non-transactional behaviors as well, such as reaching a goal or
visiting a particular location.
"We are pleased to secure this strategically important patent grant from the Intellectual Property Office of Korea as a
part of Loyyal's broader, long term global patent strategy," said Greg Simon, CEO and Founder. "Korea has a strong and
growing market for enterprise-use blockchain applications. Specifically, the loyalty application is already live amongst
Korean financial institutions. We are excited about the new opportunities and partnerships this opens for Loyyal in
Korea, and across Asia."