January 9, 2023
BambuMeta & Skyflow: Building the Future of Digital Retail
BambuMeta is a decentralized platform that lets brands build more thoughtful experiences for their customers. Privacy and security are critical for building brand trust, so BambuMeta depends on Skyflow to isolate, protect, and govern sensitive customer data.
The retail industry is evolving rapidly. Brands have more touch points than ever before with potential customers – social media, website, email, and so on – and in turn, those customers have evolved their expectations for brand experiences.
In this post, we’ll look at what brought BambuMeta to Skyflow, how their products help brands engage with consumers, and why their solution fits with the evolving omnichannel retail landscape. We’ll also review the architecture of BambuMeta’s solution and how it integrates with Skyflow Data Privacy Vault to deliver a data privacy solution that brands – and their current and potential customers – can trust.
What Brought BambuMeta to Skyflow?
The team at BambuMeta knew that strengthening relationships between brands and their consumers relies largely on trust. Brands are able to provide more tailored experiences when they have more information about their customers, and while customers respond better to unique and relevant brand outreach, they also need to trust that their information is being kept private and secure throughout the process.
“Skyflow is the certified leader in data privacy,” said Grant Hearn, Product Offering Manager at BambuMeta. “With Skyflow, BambuMeta can focus on doing what it does best: helping brands to cultivate valuable relationships with consumers without sacrificing privacy, security, and compliance.”
How Does BambuMeta Work?
With BambuMeta’s blockchain-powered services based on smart contracts, brands can create seamless and thoughtful customer experiences that deliver increased personalization, responsiveness, and value. With BambuMeta, brands can strike the perfect balance between being available to customers at a moment's notice and rewarding customer loyalty, without over-engaging and risking brand fatigue.
Brands are using BambuMeta to connect familiar Web2 infrastructure and new Web3 technologies, as pictured below:
Working with BambuMeta lets brands and retailers cultivate the next generation of loyalty with carefully-honed customer engagement experiences and a platform that connects seamlessly to their own technology. And, because each brand can be confident that their customers’ sensitive data remains private, brands can enhance their customer engagements without risking customer trust.
This elevated strategy for engagement extends and strengthens any loyalty and commerce program. The BambuMeta platform fosters a closer relationship with the consumer, opening new possibilities of interaction and monetization that are critical to success in today’s retail environment.
You can see how BambuMeta works with brands and their customers in the following illustration:
So, how is the evolution of customer expectations increasing the importance of data privacy for retailers and making it critically important for BambuMeta?
As Customer Expectations Evolve, Privacy Comes into Focus
The new generation of consumers demands a seamless, customized omnichannel retail experience across time zones and geographies. Each new channel and outlet for customer engagement brings with it opportunities for potential security risks, which is why BambuMeta works with brands to prioritize the privacy of their customers’ sensitive personal information.
Without BambuMeta, when brands and retailers engage customers via Web3 initiatives, they expose themselves to greater security, economic, and UX challenges. Worse yet, they potentially expose their customers’ sensitive personal data – names, dates of birth, mailing and email addresses, etc. – to unknown actors.
To compete in today’s retail market, brands must learn to navigate uncharted territory as they aim to advance their loyalty and commerce programs. At the same time, they need to protect their customers’ sensitive data, digital assets, and wallets from security breaches and from the volatility of crypto markets. For brands and retailers, managing these risks well is critical to protecting customer trust.
“Putting consumer data back in the hands of the customer, where they can now manage their data visibility permissions across all brands they interact with, is at the epicenter of BambuMeta”, said Hearn. “Ensuring customer data is protected and secured through distributed technology is a core value of BambuMeta’s transparent methodology, and it’s a value we extend to the brands we support and the consumers they interact with, too.”
Why Did BambuMeta Pick Skyflow to Protect Consumer Data?
BambuMeta chose Skyflow because it provides the most comprehensive and advanced data privacy solution on the market.
BambuMeta has now deployed Skyflow to safeguard any sensitive data that flows between consumer, brand, digital assets, and the blockchain. To maximize the privacy and security of each brand’s sensitive customer data, even BambuMeta doesn’t possess access to this sensitive information.
A consumers’ data is first isolated in BambuMeta’s Skyflow Vault where it is protected using Skyflow’s unique polymorphic encryption techniques. With all sensitive consumer data isolated, BambuMeta protects that data using Skyflow’s fine-grained access controls.
“With Skyflow, we’re anticipating a 410% return on investment (ROI) over a three-year period. Skyflow’s intuitive integration framework and phenomenal onboarding team got us online quickly, so we’ll see our investment pay for itself in less than six months,” said Will Esclusa, CTO of BambuMeta. “With Skyflow, we also reduced our integration development times by 65% — an efficiency boost that will result in cost savings of over $3.7 million over three years. And, our customers have saved approximately $2.3 million by retiring previous integration solutions,” Esclusa continued.
How Do BambuMeta and Skyflow Work Together?
With Skyflow built into its solution, BambuMeta offers brands a secure and private loyalty platform that empowers them to deliver new experiences to their consumers.
Working with Skyflow to protect consumer data privacy and security lets them focus even more deeply on their core offering and mission: helping brands and retailers strengthen loyalty relationships with their customers.
“The brands that let go of their old ways of acquiring consumer data and deploy the BambuMeta platform to create an environment of mutual value exchange are the ones who will capitalize on this inevitable shift of data privacy, building a closer relationship with the consumer than ever before”, Grant Hearn said.
In the following diagram, you can see how Skyflow protects sensitive data for BambuMeta, the brands and retailers who work with BambuMeta, and the consumers who engage with those brands:
Here’s what happens in each step of the process shown above, starting when consumers interact with a brand that uses the BambuMeta platform:
- Consumer data is sent directly to Skyflow Data Privacy Vault from the client. Skyflow securely encrypts and isolates that data away from BambuMeta’s backend system.
- Skyflow returns a tokenized record identifier to the client.
- This tokenized record identifier is sent to BambuMeta’s backend system, where it’s stored for later use.
BambuMeta lets brands engage customers in a way that better follows their natural lifecycle: effectively, organically, and on their terms – and, without compromising on data privacy. For the customer, this means simpler, more thoughtful experiences with the brands they love. And for brands, it means adding sophistication to their customer engagements without risking their relationships with their customers.
To learn more about how Skyflow Data Privacy Vault can help your company protect the privacy of sensitive data so you can build trust with customers, protect their data, and accelerate time to market, give Skyflow a try.