Loyalty programs are highly fragmented and often suffer from a silo mentality. As a result, the loyalty industry is losing potential revenues as well as customer loyalties, with only 13 percent of consumers reporting that they are satisfied with current offerings. Blockchain technology and smart contracts offer the potential to deliver a much needed boost to the sector, with the promise of end-to-end interoperability and security, as well as new methods for generating revenues and engaging with customers in ways that have never been done before.