ICON Foundation and SK Planet have announced that they will together develop blockchain marketing solutions. The developer of ICX virtual coin joined forces with Korea’s SK Telecom e-commerce subsidiary for this venture. Both companies intend to upgrade SK offline and online services by linking the existing marketing products of the company with ICX.
The deal as of now will cover only Korea. Currently, SK Planet also operates in China, Japan, Malaysia, Indonesia, Thailand, and the United States. As per the press release from ICON Foundation, “the ICON team will work with SK Planet to support small and medium-sized enterprises (SMEs) to vitalize the local economy. To that end, we will foster a healthy blockchain industry through support of blockchain developers and cooperation with academia.”
SK Planet and ICON may implement tokenization of loyalty services
Both the companies are yet to reveal any additional information. However, speculations indicate that they will implement tokenization of loyalty services with blockchain. Just a year ago, a multinational company from Japan, Fujitsu, developed a distributed ledger technology-based system to promote tourism with tokenization. The primary aim behind this implementation was to bring more transparency to the field and also cut down on expenses.
The South Korean SK Planet is a leading information technology and services company with around 35 million clients. Established in 2011, SK Planet offers online to offline solutions to digital marketers and for e-commerce products. However, the main business of the subsidiary of SK Telecom is to focus on loyalty programs, let the customers earn points from purchasing services and goods. The customers can, later on, redeem these points and receive discounts or use the equivalent money.
ICON and SK Planet to create new values for customers
Both companies are coming together to create new business opportunities. For that, the companies will link the blockchain technology of ICON with the leading mobile services of Korea such as Syrup and OK Cashbag, both from SK Planet. By introducing this process ICON and SK Planet want to transform the framework of digital marketing for different brands. The companies also want to come out with a long-term as well as mid-term roadmap to improve the online and offline experience for customers.