We Now Live in Platform Business Generation.
Facebook, Airbnb, Alibaba, Uber. Those are well known platform services. The companies running those services have in common with each other. They are platform business models.
Platform business model means 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 ride sharing, 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 it as cash at M2O affiliates.
In the M2O Wallet, it will search the hidden mileage through blockchain technology and users’ identifications or mobile numbers. There will be the function that converts M2O Token into M2O Coin in the wallet, so consumers will be able to trade their mileage.
Mileage or points are recognized as liabilities to mileage providers and those providers run their own membership services to reduce the liabilities. Therefore, unnecessary marketing expenses are occurred.
However, M2O platform could reduce the expenses. In addition, consumers will be able to integrate their mileage and use as cash at M2O affiliates.
Mr. Kang, CTO of MTO Global, said “M2O Platform is based on the Oracle Blockchain Cloud Service platform and Ethereum blockchain. They provide superior advantage to the required factors. Also, it records and shares all transactions in the business network in Shared Ledger and secured transactions are guaranteed since the authorized transaction requires the consent of the participants in the network.
M2O Project has a goal to abreast of popular platforms such as Uber, Facebook, Airbnb, Alibaba. M2O platform seeks to create a virtuous cycle on blockchain ecosystem and simultaneously occupy the market rapidly through its platform business with blockchain technology.
