Mobivity to Leverage Blockchain Architecture to Power Cross-Brand Commerce
PHOENIX, Dec. 27, 2017 (GLOBE NEWSWIRE) -- Mobivity Holdings Corp. (OTCQB:MFON), makers of the award-winning platform for intelligent and personalized marketing in the real world, today announced plans to make blockchain distributed data architecture the backbone of its next-generation platform, MobivityMind, in 2018. MobivityMind is an AI-driven platform for commerce and customer communication in brick and mortar locations, and already fuels more than 200 Million intelligent transactions by more than 9 million consumers each month for popular restaurant, retail, and personal care brands.
“We have long held the vision that there is a tug of war between 3 forces shaping commerce in the digital and mobile age,” said Dennis Becker, CEO of Mobivity. “Data aggregators, brands, and consumers all want intelligent, personalized, efficient, and modern experiences both online and off, but none agree on who should own the data. Blockchain is the ideal solution to end this debate and create a secure, decentralized platform for consumer identity and incentives in commerce.” Blockchain architecture is decentralized, has no single owner, no single point of failure, and yet is more secure than a centralized database. “We believe that a blockchain system can be the backbone for a persistent consumer identity across brands; giving the brands a way to hold their proprietary information while still allowing consumers to own their own data and barter across brands for the best experience, without having to lay their trust in the data aggregators to do it for them,” Becker continued.
The data collection being conducted by the search, social media, and credit companies (data aggregators), without the consumer’s explicit knowledge or consent, can raise privacy concerns for commerce in the digital age. Brands, on the other hand, typically prefer to own their customers and not share data with others, leading to small silos and a fragmented experience for consumers. Most consumers, meanwhile, want privacy and security along with all the benefits of personalized experiences everywhere they go. Blockchain, coupled with the MobivityMind platform, can securely store transaction records across brands and allow consumers to build currency that can be used as they go about their lives. This is the same infrastructure and technology principles applied to Bitcoin, Ethereum, Ripple, Litecoin, and other popular cryptocurrencies, but activated and earned by a consumer’s typical daily activities. So, a coffee and donut purchase this morning, followed by a sandwich at a different merchant this afternoon, followed by a retail purchase in the evening can all fuel a personalized discount for dinner tomorrow, with each transaction informing the brand, the consumer, and the consumer’s persistent digital identity.
“There is tremendous excitement for the use of blockchain technology across a wide variety of applications,” said Alek Zdziarski, Mobivity CTO. “We have been planning for some time to leverage the technology to power our vision for serving brands and consumers. We will be commercializing our blockchain infrastructure in 2018, and we are exploring exciting plans with both existing and new customers. We’ll share more about our unique application of blockchain and cryptocurrency technology as we onboard our clients in the coming weeks and months,” he concluded.
For more information, or to schedule a briefing on Mobivity solutions, please contact Corey O’Donnell, SVP of Marketing for Mobivity, at (480) 588-2470, or corey.odonnel@mobivity.com.
About Mobivity
Mobivity provides a platform for intelligent and personalized marketing in the real world. Real world customer activity in national restaurants, retailers, and personal care brands is difficult to track and connect to digital actions. Mobivity leverages detailed purchase data and communications platforms to improve business results by understanding, predicting, and influencing consumer behavior. We drive better actions and inform decisions by connecting point of sale outcomes to the events and influences that caused them. For more information about Mobivity, visit mobivity.com, or call (877) 282-7660.
Released December 27, 2017
