📄️ A Powerful Transaction Ledger
The platform includes a Transaction Ledger that allows creating accumulation accounts that can represent points or coins. This Ledger facilitates the management of Wallets assigned to each member.
📄️ How it Works
A ledger account facilitates the management of wallets for all members on the platform. Consequently, each member has a wallet linked to all active accounts in the system. Peer-to-peer transfers between two wallets are possible but only within the same account. It is not permitted to move points between two different ledger accounts.
📄️ Types of Transactions
In the context of a Points Ledger system designed to manage loyalty points or similar digital assets, transactions can be classified into several types. Each transaction type serves a specific purpose, from creating new points to moving them between accounts or even removing them from circulation. Let's explore the types of transactions that are typically supported:
📄️ Onchain Ledger
Additionally, the Points Ledger can optionally mirror transactions to an on-chain ledger. Currently, the Algorand Chain is supported, and support for other EVM (Ethereum Virtual Machine) compatible chains is planned for future development.
📄️ Points Tracking and Financial Valuation
The Points Ledger serves an additional vital function by aiding in the tracking of points issuance, which is integral to the financial valuation strategy of points. This feature is particularly crucial for large companies, providing a robust framework for managing the financial implications of loyalty points as assets.
📄️ Idempotency and External Information
In the management of transactions within a Points Ledger system, ensuring data integrity and avoiding duplications are paramount. This is where concepts like idempotency and the integration of external information play a critical role.
📄️ More than just Point Accounts
The points ledger, a versatile component of the system, is traditionally used for managing financial transactions or point balances related to loyalty programs. However, its functionality extends beyond just handling monetary or points-related records. It can be adapted to monitor a variety of customer or member activities. For instance, it can track how frequently a member engages in certain behaviors, such as traveling to a specific destination or posting on social media platforms.