In collaboration with The Binary Holdings, Hedera has rolled out the engagement platform, a blockchain-based engagement platform, throughout Southeast Asia. This experimental initiative bridges blockchain technology with traditional, mainstream telecom platforms. It opens tremendous opportunities throughout the industry and user community in the state. The technology is embedded natively into telecoms’ big 3 telecom provider’s mobile applications. That infrastructure and the integrations brought by this setup makes it available to millions of mobile users easily.
The partnership utilizes Hedera’s fast and secure distributed ledger technology to help increase lower user churn and increase engagement across the telecom industry. In aggregate, the participating telecom operators cover more than 169 million users. Through this program, millions of individuals will be exposed to the advantages of blockchain for the very first time. Every engagement on their platform is incentivized with $BNRY tokens, which are used for loyalty rewards throughout the telco ecosystem.
Strategic Partnership
The alliance between Hedera and The Binary Holdings intentionally leverages the talents of both organizations in smart ways. Hedera’s enterprise-grade distributed ledger technology equips audiences and creators the tools to deliver amazing experiences. Binary’s knowledge and experience are its biggest assets in the highly competitive Southeast Asian market. Further, it ensures that smart technology solutions are deeply embedded in the telecom industry.
This partnership is mutually created to respond to the fast increasing demand of new and creative digital solutions in Southeast Asia. The effort integrates the platform so fully into mobile apps managed by telecoms’ app stores and account settings. This model creates a low threshold for a wide user base to readily engage with it. This makes for a low-friction, highly-adoptable approach to using blockchain technology.
The platform dramatically increases user engagement while creating new revenue opportunities for telecom operators. By rewarding users with $BNRY tokens for their interactions, the decentralized platform incentivizes continued participation and loyalty. You can then redeem these tokens for a wide range of services and products within the telco ecosystem. This fosters a powerful win-win partnership between users and providers.
Blockchain Integration
Bringing this level of integration between blockchain technology and mainstream telecom platforms is another massive leap forward for the industry. Hedera’s distributed ledger technology makes sure that all transactions conducted on the platform are transparent, secure, and efficient. That cuts out the mess of dealing with intermediaries and dramatically lowers the risk for fraud.
The integration of $BNRY tokens as loyalty rewards adds significant value to the platform’s proposition. Making it easy to discover and use these tokens makes them highly engaging, motivating users to become more active participants in the telco ecosystem. The $BNRY tokenomics are designed to foster long-term sustainability and growth.
Additionally, the platform is built to be interoperable with other blockchain ecosystems and applications. This enables the more seamless integration with leaders’ existing systems, while laying the groundwork for real-time cross-platform collaboration. The flexibility and scalability of Hedera’s technology meant it was the perfect fit for this ambitious project.
Regional Impact
With the launch of this new blockchain initiative promising to be a game changer for the entire Southeast Asian region, stay tuned for what could emerge next. The platform now has more than 169 million active users. It’s an immense opportunity that could fundamentally change the way people engage with telecom services. With a user experience that’s easy, intuitive, and rewarding, the initiative aspires to introduce blockchain technology to people from all walks of life.
To the Southeast Asian market, the utility of $BNRY tokens for loyalty rewards are intensely attractive. With the world’s highest mobile penetration rates, users in this region are used to cashless, digital rewards programs. It addresses the specific needs of each individual country. It is meant to be culturally relevant and speak to the people who live in that area of the Triangle region. This kind of localized approach is key to making sure something like this is really adopted and successful at scale.
In addition to supporting local governments, the initiative is anticipated to open up new opportunities for local businesses and entrepreneurs. Together Hedera and The Binary Holdings are building a unique engine for entrepreneurship, creativity and cooperation. Collectively, they are shaping the expansion of the blockchain ecosystem in Southeast Asia. This, in turn, will set the stage for long-term economic development and job creation across the region.
