Method of real-time loyalty rewards redemption

A non-transitory computer-readable medium having instructions stored thereon that, when executed by at least one computing device, cause the at least one computing device to perform operations comprising:

• receiving transaction data, wherein the transaction data represents an event which qualifies to earn rewards in a rewards system;
• determining a value of a digital asset to obtain, wherein the value of the digital asset is calculated by the rewards system based on the rewards;
• obtaining the digital asset from an asset management system based on a rewards value and the value of the digital asset determined by the rewards system;
• updating, based on additional transaction data received by the rewards system, the rewards value;
• in response to updating the rewards value, continuously updating the value of the digital asset according to the updated rewards value, wherein continuously updating the rewards value comprises linking a data structure of the rewards value to a data structure of the digital asset such that the updated rewards value updates the value of the digital asset in real-time;
• receiving, by the rewards system and from a user device, a selection of a threshold value for redeeming the updated rewards value for the updated value of the digital asset;
• based on the selection, enabling, by an allocation system, the user device to automatically receive the digital asset based on receiving a redemption request to the rewards system and based on a determination that the threshold value has been exceeded by the updated rewards value, wherein enabling the user device further comprises:
• initializing a digital wallet by assigning an account identifier to the digital wallet, wherein the account identifier comprises a unique string of alphanumeric characters;
• pairing the account identifier of the digital wallet with a public key address on a distributed ledger stored within the asset management system, wherein the distributed ledger is implemented over a private, public, or consortium peer-to-peer network;
• and
• storing the public key address within the digital wallet;
• in response to receiving the redemption request to the rewards system, transferring the digital asset to the digital wallet of the user device in-real time, wherein the transferring further comprises writing transaction data of the redemption request to the distributed ledger using the public key address stored in the digital wallet based on the determination that the threshold value has been exceeded by the updated rewards value;
• and
• communicating a balance to the user device, wherein the balance includes the rewards value and the value of the digital asset, wherein the user device is able to redeem the value of the digital asset, wherein a redemption of the rewards by the user device is a real-time exchange of the digital asset to the digital wallet of the user device with a corresponding rewards value in the rewards system based on the determination the threshold value has been exceeded.

A system comprising:

• a processor;
• a tangible, non-transitory memory configured to communicate with the processor;
• the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising:
• receiving, by a rewards system, transaction data, wherein the transaction data represents an event which qualifies to earn rewards in the rewards system;
• determining, by the rewards system, a value of a digital asset to obtain, wherein the value of the digital asset is calculated by the rewards system based on the rewards;
• obtaining the digital asset, based on a rewards value and the value of the digital asset determined by the rewards system;
• updating, based on additional transaction data received by the rewards system, the rewards value;
• in response to updating the rewards value, continuously updating the value of the digital asset according to the updated rewards value, wherein continuously updating the rewards value comprises linking a data structure of the rewards value to a data structure of the digital asset such that the updated rewards value updates the value of the digital asset in real-time;
• receiving, by the rewards system and from a user device, a selection of a threshold value for redeeming the updated rewards value for the updated value of the digital asset;
• based on the selection, enabling, by an allocation system, the user device to automatically receive the digital asset based on receiving a redemption request to the rewards system and based on a determination that the threshold value has been exceeded by the updated rewards value, wherein enabling the user device further comprises:
• initializing a digital wallet by assigning an account identifier to the digital wallet, wherein the account identifier comprises a unique string of alphanumeric characters;
• pairing the account identifier of the digital wallet with a public key address on a distributed ledger stored within an asset management system, wherein the distributed ledger is implemented over a private, public, or consortium peer-to-peer network;
• and
• storing the public key address within the digital wallet;
• in response to receiving the redemption request to the rewards system, transferring the digital asset to the digital wallet of the user device in-real time, wherein the transferring further comprises writing transaction data of the redemption request to the distributed ledger using the public key address stored in the digital wallet based on the determination that the threshold value has been exceeded by the updated rewards value;
• and
• communicating a balance to the user device, wherein the balance includes the rewards value and the value of the digital asset, wherein the user device is able to redeem the value of the digital asset, wherein a redemption of the reward by the user device is a real-time exchange of the digital asset to the digital wallet of the user device with a corresponding reward value in the rewards system based on the determination the threshold value has been exceeded.