Metaps Plus and OST to Create Mobile Blockchain Coupons and Payments Protocols
Metaps Plus Partners OST to Create Blockchain-Driven Mobile Coupons
Metaps Plus is partnering OST to establish blockchain-powered coupons and a mobile payments platform. Specifically, Metaps will use OST’s technological infrastructure as well as the OpenST and OpenST Moosic Protocols to develop a blockchain-based solution. Metaps Plus is a Korean fintech firm that is affiliated to the Japan-based Metaps Group.
Speaking on the partnership, Seungyeon Kim, the CEO of Metaps Plus, said that the company is committed to promoting the mass adoption of blockchain technology in Korea. He added that teaming up with OST to create mobile coupons will establish new avenues for the adoption of coupons in the country.
Initially, the two companies will prioritize the tokenization of mobile coupons. Most users still face numerous challenges while using mobile coupons. The common problems include expiry dates, minimum purchase thresholds and acceptability in specific shops. Such issues reduce the value as well as the adoption of coupons.
The solution to the challenges mentioned above is the introduction of blockchain tokens. Such tokens are tradable and have an intrinsic value, meaning that they are more flexible than traditional coupons. Metaps Plus is accustomed to processing an array of coupons; for this reason, the collaboration will focus on developing Non-Fungible Tokens. This types of tokens are made to represent unique digital assets.
Jisoon Lim, the CSO at Metaps Plus, said that his firm shares the same goals as OST. Lim lauded OST for developing state of the art blockchain solutions and added that they look forward to working together to create more opportunities for consumers, brands and merchants in Korea.
On the other hand, Chris Dark, a co-founder and CCO of OST said that
“Blockchain technology will disrupt the global loyalty programs ecosystems and grant control to consumers. Chris further stated that OST is enthralled by the prospect of working with Metaps Plus to develop an ultra-modern mobile coupon ecosystem that will last for generations.”