What is the most popular way of traveling? Obviously, by air. Just imagine that over 5,000 air companies flew 4.1 billion passengers in 2017. What’s more, this year the world hit another record, 200,000 aircrafts took off in a single day.
However, the ‘air travel’ boom has another side of the coin: the more passengers, the severer the competition becomes. So, air companies continuously develop their loyalty programs fighting for clients.
After every flight, passengers get points or miles, which can then be redeemed for some benefits. Moreover, air carriers try to collaborate with a wide range of travel-related companies to offer customers more privileges and bonuses. Still a significant number of passengers don’t use them.
More than half of Americans [54%] consider frequent flyer programs confusing, according to the NextAdvisor study. They do not know how many miles they have, when these miles expire, and even how they work. Thousands of airlines’ proposals confuse passengers.
They do not want to spend their time to track the rewards, count the points, and look into redemption. That’s why 40% of surveyed air travelers let their miles burn. By losing loyalty points, passengers literally throw their money to the winds.
Since carriers credit small bonuses, travelers have to spend more to earn something truly valuable. In addition, miles and points can expire before customers can reach a necessary quantity of awards. So, they collect more points, which they won’t use. It’s a vicious circle, isn’t it?
That is why passengers prefer an “earn and burn” philosophy. But what if people could pool their rewards taken from different places and turn them into material assets?
Making miles useful
This is where emerging technologies come to help travelers retain their benefits and make the most of them. M2O, a Korean blockchain-powered platform, has developed a solution that aims to change the mileage market.
The main idea of the M2O project is to take all the customer’s miles and points and put them in one place, the so-called “Mileage Bank.” The users will be able to securely store their rewards on this platform and unlimitedly spend them as bonuses at various programs or even as fiat at stores.
For this purpose, the project team has created an internal cryptocurrency, M2O coin. The customers will exchange their points into digital money and make transactions and contributions using it.
In other words, M2O converts points and miles that have the expiration date into global integration points with no time of termination but with currency value. So, users will be able to employ them anywhere like cash at any time. They can store their coins in the easy-to-use and secure M2O wallet.
The blockchain technology will make the conversion, storage, and management process quick, transparent, and totally secure. By converting earlier useless miles and points into cash assets, the M2O project makes the travelers’ life easier and gives them more flexibility. Now, the bonuses can be spent on really necessary things not associated with the flights.
The M2O project will benefit service providers as well. The more opportunities to utilize their points and miles, users will have higher interest in the loyalty programs. Thus, customers will return to the providers on a constant basis.
At the same time, FinTech and blockchain will allow M2O to gather and analyze Big Data on the consumption patterns of users that spend miles and points, trade analysis, and ad reward campaigns. This analysis would help the companies to secure better loyal clients and serve as important indicators for attracting new customers.
It is clear that the mileage market is imperfect and requires considerable changes. The M2O project brings novice blockchain technologies to the table as a solution. A revolutionary new integrated platform will be created to let people dispose their benefits at their own discretion.
About the project
M2O is aimed at upgrading the existing integrated mileage and point market by applying blockchain technology. Customers will be able to convert their miles and points into virtual and cash money through the M2O PAY system, and utilize their M2O tokens to acquire goods and services of the merchants affiliated with the M2O project.
The M2O platform will benefit both sides. Travelers will get a reliable, secure, and easy way to manage their miles and points. Service providers, in turn, will obtain a powerful instrument to attract new clients and reduce a number of miles and points that are previously classified as deferred revenue accounts.
Soon the project starts its ICO campaign. It will begin on October 29 and last until November 23. You can buy 30,000 M2O tokens at the price of 1 ETH. Do you want to turn your vain miles and points into real cash assets? Join the M2O project right now!
The post Travel easy: Blockchain startup M2O won’t let your miles burn appeared first on AMBCrypto.
Original Post: Travel easy: Blockchain startup M2O won’t let your miles burn