MTO Global increases speed to market, reduces operating costs, and enhances Customer Experience with Oracle Blockchain Platform.
MTO Global Co., Ltd. is a Korean startup company that provides an integrated Mileage-to-Opportunity (M2O) platform for users around the world to exchange their mileage or reward points earned from airlines, cards, and shopping into tokens and use them as a form of payment via blockchain technology. With the mileage market estimated at a value of US$1,780 billion within the next few years, MTO Global aims to build and attract 50 million worldwide members in the next 2 years.
To support this goal, MTO Global needed to adopt a complete, production-ready blockchain platform and enable the business to quickly develop and integrate M2O wallets and M2O coins into the various systems of alliance partners—including mileage accumulation and payment systems—before the opening of its Initial Coin Offering (ICO).
“As a startup company, we had to deal with scarce resources while building our trusted market reputation. Thanks to Oracle Blockchain Platform, we not only built a revolutionary blockchain business model, but also have the confidence of potential alliance partners that MTO Global is a trusted business partner.”
- Enable the startup business to focus on growing the M2O platform without the challenges of limited IT resources and high capital and operating expenditures by reducing the time and cost to provision and administer the blockchain networks
- Support the vision to become a revolutionary leader in providing a worldwide mileage platform by seamlessly linking the M2O service with the alliance partners’ existing or new cloud-based or on-premises applications, such as mileage promotion systems
- Enhance the confidence of investors and affiliated business partners by ensuring secure data sharing with partners via the private network and conducting trusted cryptocurrency transactions between worldwide users with the public blockchain service
We selected Oracle over other vendors, such as IBM and Samsung, because of its technical maturity and reputation in the market. Oracle also offered the most secure and reliable blockchain cloud service, supporting our goal to create a new paradigm of mileage and points markets for worldwide users.
- Provided a secure and reliable M2O platform for customers to easily buy and sell their mileage or points and exchange them into cryptocurrency by adopting Oracle Blockchain Platform with Oracle Database Cloud Service to store data, manage contracts, and handle real-time payment transactions
- Secured customer data by using Oracle Blockchain Platform to hold confidential personal information, such as accumulated mileage, user history, and converted points
- Reduced operating costs for compliance requirements and allowed the business to allocate more budget to sales and marketing by leveraging the self-driving, self-securing, and self-repairing capabilities of Oracle Blockchain Platform to simplify blockchain network operation and ensure the security of M2O infrastructure
- Enabled the business to continuously partnered with large airline partners, including Star Alliance and Sky Team Airline Alliance, before the ICO by building the integrated mileage platform with Oracle Blockchain Platform and gaining trust and confidence from the potential business partners during the negotiations
- Enhanced the customer experience by revolutionizing the mileage-based reward programs and providing an innovative way for users to accumulate, trade, and exchange points across various participating business partners, such as airlines and retailers, and use points to buy goods in the 'real world'
- Increased speed to market by deploying smart contracts, which eliminate the need for additional training for developers and making it easy to add new partner organizations to the trusted business networks with API calls
- Gained a competitive edge and supported the growth plan to reach 50 million users in 2 years by leveraging the Hyperledger Fabric of Oracle Blockchain Platform to easily integrate and link services with different vendors via REST API and deliver greater benefits to users through the expanded network of alliance partners