The Singapore-based company Easter Egg Pte Ltd developed an application that changes the way you approach gift giving. The application is now available on Google Play and Apple App Store and has hit the Indian market.
According to the Indian newspaper The Economic Times, the application has already had transactions worth $50,000 since five and a half month of its launch.
Easter Egg currently works in India and Singapore, with services said to expand to Canada, United States and Dubai soon.
India is rapidly becoming one of the prospective markets for Blockchain-based technologies.
Thursday, Cointelegraph wrote about an Indian bank partnering with Deloitte to use Blockchain to reduce trade finance processes from weeks to hours.
Picking up birthday presents or anniversary gifts is tricky enough but what makes things worse is if you have to do it across the world. Now it’s possible to send friends and family vouchers that enable them to get products and services of their liking using Blockchain technology.
What is nice about Easter Egg is that not only can users gift each other vouchers for restaurants and pubs etc. They can also share experiences like Yoga or Karaoke with each other.
This makes it easier to pick gifts for friends who have varied interests.
Akshay Ananth, co-founder of Easter Egg told ET:
“You can be anywhere in the world and if you have friends or family in Bengaluru, Pune or Singapore, you can gift them digital vouchers to varied experiences from a beer to a foot massage or a trip to an organic farm or a museum.”
Blockchain technology has the possibility of redrawing and reshaping loyalty programs and point systems.
At the moment if you are using a loyalty program at a store or an airline or a hotel, you are tied up and have no choice but to keep using the service provider or store till you accumulate enough points.
With a Blockchain-based system, there is a possibility of freeing up the users and using a universal system across multiple vendors.
Easter Egg is a good example of that. Sandeep Sangli, a co-founder at Easter Egg says in a Times of India article:
“The advent of Blockchain technology has helped us rethink the way we look at gifting, loyalty and rewards. Today most vouchers are tied to a brand and they cannot, in most cases, be shape-shifted to be used with another brand. Our solution will bring vouchers, loyalty points and payments, all on one single platform.”
Services like Easter Egg are a great idea in theory but unless and until they get popular, they can’t really get off the ground.
A Singapore-based early stage investment company Wealthy Ideas has put in $400,000 into Easter Egg, reports the Hindu Business Line.
This sort of funding can hopefully help the firm get off the ground. People, however, truly need convenience and ease of use at the end of the day.
Going through the reviews the users have been writing for the app, most people do seem to like it but as one user Gowri Shannon Shanmugam wrote on Easter Egg’s facebook page,
“It’s a nice app and a good initiative. But it’s a bit frustrating because when it was to be used, we found out that the salon we went to had no idea it was even tied up to the app. Hence, they were quite in a frenzy figuring it out.”
Possibly teething troubles due to early days but apps need to translate into crease proof experiences on the ground to be successful in the real world and that is the key to success in long-term for such initiatives.
GoldMint to Launch ICO with Early Bird Bonuses
The GoldMint company (the innovator behind the stable GOLD token and Custody Bot) has published its plans for its greatly anticipated ICO. The ICO will launch on September 20, beginning with the sale
The Newest Version of the Opendime Bitcoin Wallet Is Out
Coinkite is launching a new version of its Opendime bitcoin hardware wallet.
The third iteration of the popular USB stick wallet, the latest model will feature a range of changes on the hardware fr
Crypto Bloodbath: Bitcoin Back to $3,950 After Dipping Below $3,800
Since achieving a new all-time high above $4,500, bitcoin price has recorded four minor corrections. Earlier today, on August 22, bitcoin price fell to $3,800 as the market and investors started to fe
Bitcoin Cash: Chinese ‘Big 3’ Exchanges Huobi & OKCoin Launch Trading
Two of China’s ‘big three’ cryptocurrency trading platforms are now officially supporting Bitcoin Cash (BCC) after launching trading today.
In official announcements today, Huobi and OKCoin began s
US Telcos Targeted by Hackers in an Attempt to Empty Cryptocurrency Wallets
Cryptocurrency users have always been a tempting target for cybercriminals. Since none of these currencies have reversible transactions, stealing money is a guarantee for success. It now appears
Boldstart Founder Launches Hyperledger Fabric's First Blockchain Accelerator
The founder of VC firm Boldstart Ventures is launching the first accelerator dedicated exclusively to startups building on the Hyperledger Fabric blockchain.
With previous exits that include a $120
Blockchain ID Startup ShoCard Raises $4 Million in New Funding
Blockchain startup ShoCard has raised $4 million in new funding from a range of investors.
Co-led by AME Cloud Ventures and Morado Venture Partners, two of the company's existing stakeholders, the
Walmart, Kroger & Nestle Team with IBM Blockchain to Fight Food Poisoning
Several of the world's largest food suppliers are collaborating on a blockchain solution that could one day save both money and lives.
In partnership with IBM, the consortium – which includes Dole,