RAAY RE will test and validate the following blockchain-based solution in the scope of BlockStart:
With the support of the BlockStart program, RAAY RE plans to work on a DTL-based Tenant Incentive Scheme, that helps property owners and managers to incentivise their tenants to behave in a desirable way by issuing tokens for certain actions regarded as good behaviour, which may include getting on-time payments, reporting damages, unsavoury behaviour and saving energy.
This general concept of rewarding customers is taken from frequent flier miles and it is proven that they work very well and increase customer satisfaction and retention. What we have realised is that these incentives work can be successfully applied to property management as well. Instead of rewarding points, our incentive scheme will be based on ERC-20 tokens branded as coins issued by the property owner, which can be exchanged for benefits related to the property such as a discount on the monthly rents or reduced parking fees.