IBM, China UnionPay complete block chain pilot project on bank loyalty points

IBM said on Friday it completed a pilot project with Chinese credit card company China UnionPay that will facilitate the sharing of loyalty bonus points among banks using block chain technology. Bonus points earned through purchases on bank cards have long been an effective tool to attract and encourage customers to use specific cards. IBM's collaboration with China UnionPay will enable consumers worldwide to exchange bonus points from their various banks in less than a minute to select rewards