The only problem I have with that is that it defeats the purpose of a loyalty program since you're not binding the customer to your store. One can simply go to another one in the BIT network?
Please understand that its not that straightforward. It depends a lot on the specific settings for every merchant. We are combining the rewards that you can use only in the given store with the incentives that stimulate better than points to buy and refer friends
Think of a blogger who posted a link to a stores product to his followers incentivized by a chance to earn crypto on their purchases. She wouldnt have done so for the points. We are offering the solution which will mix both internal points and open-loop crypto rewards to achieve the maximum efficiency
Also, don't forget that crypto rewards would be a great attractor of sales for any shop. People would love receiving crypto-cashback and other crypto-rewards, so they would be more at the shop offering them. That's another piece of value that we bring to e-commerce.