[Insert eye-catching meme/GIF here - Example: Drakeposting meme. Drake being mad that “Traditional Voucher Systems” Drake approving “Vouchers… but on the Blockchain!”
Okay, Lotte's gone crypto. Or, at least, a little crypto. Daehong Communications, an affiliate of the Lotte Group, has adopted Aptos blockchain to its Giftiel mobile voucher service. 500 thousand registered users, 1 million vouchers distributed… since July 2025 to boot. And we’re led to believe that it’s really because of this big shiny “Money Movement” ecosystem. But come on with all the hype and baloney already. Don’t take anything for granted, including the concept of blockchain as a whole. Or is this a crazy notion? Or are we merely witnessing yet another company out of touch with reality chasing after the expensive, glitzy shiny object that is the Web3 buzzword?
Vouchers On-Chain? Really, Though?
Seriously, vouchers on a blockchain. Vouchers. Not the type you receive for your birthday, or that your Fortune 500 employer awards you after you reach your Key Performance Indicators. Now, I'm all for innovation, but the first question that pops into my head is: WHY?
Are we honestly in the midst of an enervating lack of transparency in the gift card universe? Are fraudulent vouchers flooding our schools and wrecking communities’ economies? What’s the urgent societal need for unchangeable, distributed database tech anyway? Whether it can really trace the entire path of a ₩10,000 coffee voucher. I'm not entirely sure.
The official line goes something like “transparent ownership and traceability.” Daehong says this is a win-win for users and businesses alike. Users get, allegedly, transparent ownership (okay, I guess?), and businesses get "precise operational insights from reliable usage data." Haven’t firms been monitoring voucher redemption for decades using just fine, non-blockchain alternatives.
I can already see the fleet boardrooms humming with energy. When executives lean in, excited to talk about the latest buzzwords such as “blockchain,” “Web3,” and “digital transformation,” all of a sudden, every mode we have is old-fashioned and just not working, waiting to be “disrupted.” Is it true disruption if the result is simply injecting a whole new layer of complexity into something that isn’t broken?
History Rhymes, Blockchain Booms & Busts
You know how last year, every company was adding “AI” to their products, even when it was completely nonsensical? At least in our work so far, we’re now seeing colors of that same prevalence with blockchain. You see, companies are desperate to appear cutting edge and future focused. They usually end up shoehorning blockchain into scenarios where it’s about as helpful as a chocolate teapot.
Instead, we have largely witnessed companies jumping onto the blockchain bandwagon with unrestrained excitement. Often, they leave their projects to die a quiet death after a mere one or two years. Remember KodakCoin? Long Island Iced Tea Corp rebranding as Long Blockchain Corp? Those are cautionary tales, folks. Tales of hype over substance.
Does Giftiel need it? To gauge the mood among NFT folks, I spoke to several artists and collectors.
"Look, I'm all for blockchain tech, but sometimes it feels like companies are just doing it for the PR," says crypto artist 'PixelPusher69'. "If it doesn't genuinely improve the user experience or add real value, it's just noise."
Another collector, known as 'DeFiDave', chimed in: "I'd rather see Lotte invest in supporting NFT artists or building a metaverse experience. Vouchers? Come on!"
Let's be clear: I'm not saying Lotte's venture is doomed to fail. Giftiel has already gained quite a bit of momentum, and maybe this new “Money Movement” ecosystem will realize some unexpected potential. Maybe this new transparency will cause a dramatic rise in voucher adoption. Perhaps… I remain skeptical.
Lotte's Moonshot or Marketing Ploy?
The ultimate success of this new venture will depend on Lotte’s ability to prove real value to both the individual users and businesses at a larger scale. Not just theoretical benefits, real benefits. Greater efficiency Lower cost Greater security An improved user experience All of it, more than the gimmick of “blockchain vouchers”
What about the environmental impact? Operating a blockchain, even a much more energy efficient one like Aptos, requires significant energy usage. We don’t think that the marginal benefits of using on-chain vouchers outweigh the added complexity and energy consumption, so we’re not pursuing this method.
Ultimately, Lotte’s blockchain gamble is a litmus test for whether the current Web3 hype will lead to tangible, real-world value. It’s a crucible for blockchain to prove it can go beyond the domain of speculative assets and fuel things that people actually use and need.
So, what do you think? Is Lotte really leading the charge on the future of finance? Or, are they just another firm chasing a fad? Let us know what you’re seeing in the blockchain space, both the positive and the negative, in the comments section below! We want to have a real talk about the real promise (and drawbacks) of this technology.
So, what do you think? Is Lotte on the cutting edge of the future of finance, or are they just another company chasing a fleeting trend? Share your thoughts and examples of good and bad blockchain implementations in the comments below! Let's have a real conversation about the real potential (and limitations) of this technology.
