Facebook, Airbnb, Alibaba, Uber. Those are well known platform services. The companies running those services have in common with each other that they provide platform services. Platform business models mean creating value by facilitating exchanges between two or more interdependent groups, usually consumers and producers. In order to make these exchanges happen, platforms harness and create large, scalable networks of users and resources that can be accessed on demand.
Facebook, Airbnb, Alibaba, Uber. Those are well known platform services. The companies running those services have in common with each other that they provide platform services. Platform business models mean creating value by facilitating exchanges between two or more interdependent groups, usually consumers and producers. In order to make these exchanges happen, platforms harness and create large, scalable networks of users and resources that can be accessed on demand.
‘Uber’ is a peer-to-peer ridesharing, taxi cab, food delivery, bicycle-sharing, and transportation network company (TNC) headquartered in San Francisco, California, with operations in 785 metropolitan areas worldwide. Its platforms can be accessed via its websites and mobile apps. Uber has been prominent in the sharing economy, so much so that the changes in industries as a result of it has been referred to as Uberisation. Now they become one of the biggest platforms but they do not own any of cabs.
‘Airbnb’ is a privately-held global company headquartered in San Francisco that operates an online marketplace and hospitality service which is accessible via its websites and mobile apps. Members can use the service to arrange or offer lodging, primarily homestays, or tourism experiences. The company does not own any of the real estate listings, nor does it host events; as a broker, it receives commissions from every booking.
‘Facebook’ is an American online social media and social networking service company based in Menlo Park, California. They were named the most popular social networking service by ‘Compete.com’ and Facebook makes most of its revenue from advertisements that appear onscreen. The valuing of it is over $14 billion and they do not own any of the contents made by themselves.
‘Alibaba’ is a Chinese multinational conglomerate specializing in e-commerce, retail, Internet, AI and technology. Founded in 1999, the company provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals, as well as electronic payment services, shopping search engines and cloud computing services. It owns and operates a diverse array of businesses around the world in numerous sectors, and is named as one of the world’s most admired companies by Fortune. They do not own even one goods but it all happened.
M2O Project is about building a platform like them. The difference is M2O Platform is based on blockchain technology. M2O Platform will convert mileage around the world into M2O token through M2O wallet and consumers will be able to use them at affiliates as cash.
<The examples of converting mileage to M2O PAY(on going)>
In the M2O Wallet, it will search mileage through blockchain technology and users’ identification or mobile number. There will be the function that converts M2O Token into M2O Coin so consumers will be able to trade their mileage.
<The examples of converting M2O PAY to M2O COIN(on going)>
Mileage or points are recognized as liabilities to mileage providers and there are costs for marketing to membership service they have. M2O platform will reduce that expense. In addition, consumers will be able to integrate their mileage and use at M2O affiliates as cash.
Mr. Kang, CTO of MTO Global, said “M2O Platform is built based on the Oracle Blockchain Cloud Services platform and Ethereum blochchain. They provide superior advantage to the required factors. Also, it records and shares all transactions in the business network in Shared Ledger and secure transactions are guaranteed since the authorized transaction requires the consent of the participants in the network.
<The system of M2O Platform>