Innovation That Matters

Product brand cryptocurrencies | Photo source Joshua Rawson-Harris on Unsplash

New app reveals a product’s journey and offers crypto-rewards


A UK based company has created an app that informs consumers about a product’s story using digital codes and offers rewards through product brand cryptocurrencies.

A new app called Almond is changing the way consumers shop for products by making it easily accessible to learn about a product’s story and environmental impact. It also offers consumers rewards through product brand cryptocurrencies that can be swapped for cash.

Unique hidden codes are placed onto fast-moving consumer goods products. Users can then scan these codes via the Almond app to reveal information about the product. Almond’s mission is to create a new interactive and digital shopping experience that enables consumers to make more informed choices.

Scanning a digital code on the Almond app reveals all the ingredients in the product and where the companies source these ingredients. The Almond app is built around the technology offered by the EVRYTHNG platform-as-a-service (PaaS). It uses a secure database trail that is blockchain synced. The app also reveals an estimated carbon impact (CO2e) for each product at the point of consumption – it does so using an AI engine. Along with this information, scanning digital codes can unlock cash rewards for being loyal to the brands they love to buy. These rewards are in the form of product brand cryptocurrencies which users can exchange for money via PayPal. To ensure that users earn rewards at the point of consumption, product codes are in places such as under a can ring-pull.

The creators of Almond believe the consumer has the right to know everything about the products they consume. The app aims to inform consumers on a product’s entire journey before it reaches the consumer’s hand. The Almond mission states: “The future for products is open, transparent and fair”.

As consumer demands for transparency regarding products  and services increases, new innovations are emerging to make this possible. For example, one startup applies blockchain transparency to newsfeeds. Another example is a furniture company that live-streams their production process. In what other ways can technology enable brands to become more transparent and build stronger customer relationships?




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