The Coupon Bureau (TCB), a non-profit, industry managed coupon data exchange technology provider, will be using the Hedera Hashgraph Service, developed by Hedera Hashgraph, a decentralized public network, in order to provide a real-time, “tamper-proof” log for all coupon events that take place on its platform.
TCB reportedly works with some of the largest consumer product goods producers and various other entities in the retail sector.
This event log will allow coupon providers, manufacturers, clearinghouses, and retailers to verify and validate in real-time when coupons have been registered and redeemed via the platform, “without having to trust any single party.”
Brandi Johnson, CEO at The Coupon Bureau, stated:
“The Coupon Bureau is doing important work to provide the industry with connectivity to a shared database that will house all distributed, serialized coupons available for redemption.”
Johnson added that TCB’s platform will enable real-time validated, “retailer agnostic” manufacturer coupons to support strategic campaigns, reduce fraud, and simplify processes associated with redemption and reconciliation
Johnson confirmed that TCB’s offering will aim to support all stakeholders in the coupon ecosystem while maintaining their existing business models and supporting ongoing growth and development.
The Coupon Bureau’s advisory committee includes representatives from retail giant Target, General Mills, and GS1.
The bureau works with major consumer product goods manufacturers’ coupon issuing brands. It also works cooperatively with project accelerators that offer access to point-of-sale systems at retailers that account for nearly 70% of the US retail sector.
As mentioned in a press release shared with Crowdfund Insider, the Coupon Bureau plans to have “a connected retail store within 5 miles of any consumer inside the Continental United States within 12 months of deployment of its system.”
Hedera Hashgraph is an enterprise-grade distributed public ledger platform. It allows users to develop and run “fast, fair, and secure” applications on the distributed internet. The Hedera network is governed by the Hedera Governing Council, which will include 39 blue-chip, multinational organizations from several major industries.
According to Hedera, the Governing Council has been established in order to ensure “decentralized, responsible governance for a next-generation distributed ledger.”