The multi-billion dollar loyalty rewards industry currently suffers from fractures and frictions that leak value and undermine participation. Blockchain technology holds the key to address these problems. This paper outlines the positive disruptive impact that an industry-wide loyalty reward currency would have in fixing the rewards ecosystem. We discuss the specific technical requirements required to develop and implement a widely adopted system, including a proposed implementation strategy that aligns industry stakeholders, consumers, and investors. Additionally, this paper outlines the approach necessary for industry-wide mass adoption and the positive effects that will occur from using the Ovato Smart Coin.