Grasp the Aircraft Mileage Coin (AMC) in 3 Minutes
Just type “AMC” and you can get huge results in the google, including articles as well as images. AMC is promised to more and more popular in the near future. Then, what is the reason for AMC to appear? If should we need it? What is the main technology for it to operate? Today, AMC Group will introduce for you to understand all in the such short time.
1. Reason for AMC to Appear
AMC will implement cryptocurrency based on the blockchain technology within the worldwide aircraft mileage (Mileage) that has actual value and further build AMC EX (AMC Mileage Exchange) platform through AMC and lead the change of financial paradigm. AMC’s algorithm constitutes an electronic payment system with high reliability, compatibility, and scalability through decentralization and strong personal information security system through smart wallet. Based on this, the AMC mileage platform will provide users with new value as a place of practical use that connects the real economy and cryptocurrency.
2. Why AMC to be Needed
Mileage basically has the same value as cash. However, it is limited to the promised matters with the issuer. If the issuers are diverse and the promises made are different, it will be very difficult to use them practically. Then AMC applies the common cryptocurrency to the mileage so that it is dispersed in many places and its amount is small so that the mileage that was practically unavailable is integrated to be used. In addition, in order to preserve the full value of aircraft mileage in connection with limited mileage use, a platform is required that can convert equal to cash, inheritance, and transfer functions.
AMC expects global business expansion through global mileage integration around the world through the mileage integration platform. In addition, by settling corporate mileage that is entrusted as management debt, it is expected to stimulate consumption by inducing management rationality effect and induce unused personal mileage to the financial market, as well as the effect of economic activation by efficient use and thereby creating added value.
3. Main Technology for AMC to Operate
AMC consists of a transaction chain based on Qtum-based blockchain technology and Hyperledger Fabric solution, a type of private (consortium) blockchain. In order to overcome the transaction processing speed delays, data management inefficiencies and multiprocessing vulnerabilities of the current blockchain, a customized solution to verify transactions, their speed, and connection expandability with external channels based on the Consortium blockchain mutual algorithm platform is applied.
Hyperledger technology is used to handle interoperability with other types of blockchains. Multiple, independent forms of coins can be freely traded through the AMC platform ecosystem. Based on this, the AMC network plays a role as a hub that enables mutual trade while maintaining the individuality of each blockchain ecosystem. A mileage integrated electronic wallet application is developed by collecting all of the advantages of these technologies and the e-Payment function is also added. There is no physical card, but it will be applied to personal devices by introducing the already proven FinTech technology. These applications will be driven by smart devices, which enable users to realize the organic combination of real economy and cryptocurrency without difficulty.
Due to the nature of aircraft mileage, it is extended to related business areas such as hotel, travel, food, accommodation, traffic … to create a convenient and easy ecosystem through the Alliance with the AMC platform.
