Simple Payment Market Also Enters the “Blockchain Era” - CryptoCentral

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Simple Payment Market Also Enters the “Blockchain Era”

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Simple Payment Market Also Enters the “Blockchain Era”

CryptoCentral May 17, 2018
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As blockchain technology is integrated into simple payments that are conveniently used without a separate certification procedure, it is predicted that level of convenience and security will increase. Especially, a new concept of service is expected to appear where customers provide companies with their location information and get rewarded with digital tokens.

According to the related industry, O2OPay, a startup company, has been developing “O2OPay Platform” service that provides cryptocurrency as a reward and enables customers to make payments based on utilizing blockchain technology.

The payment platform has two main functions.

First of all, it collects a variety of smart sensor information from users, stores it in the decentralized blockchain and provides companies with it. Smart sensor information is related to human behaviors and environments that occur at different locations and is used by companies to develop and market their products.

O2O tokens purchased by companies are offered to customers who have agreed to provide their information, and O2O tokens can be used for customers to make payments in the O2OPay Platform.

Secondly, O2OPay plans to list O2O tokens on cryptocurrency exchanges and convert O2O tokens into cash through the “Cash to Coin” service. This will allow customers to use coins more flexibly.

“The ecosystem configuration through the both platforms shall be made to run on a sequential cycle,” and “In the future, we will develop it into a reward model for staying in a certain location for a certain period of time and upgrade it to a model that enables payment services through wearable devices,” said O2OPay official.

In order to ensure a stable service of the O2OPay platform, O2OPay is in the process of acquiring a cryptocurrency wallet provider license and a cryptocurrency exchange license.

“We are going to obtain the licenses sometime in June and provide the services in earnest,” explained O2OPay official.

“The ecosystem configuration through the both platforms shall be made to run on a sequential cycle,” and “In the future, we will develop it into a reward model for staying in a certain location for a certain period of time and upgrade it to a model that enables payment services through wearable devices,” said O2OPay official.

In order to ensure a stable service of the O2OPay platform, O2OPay is in the process of acquiring a cryptocurrency wallet provider license and a cryptocurrency exchange license.

“We are going to obtain the licenses sometime in June and provide the services in earnest,” explained O2OPay official.

The forum consists of three tracks as follows: “ICO New Opportunities, Regulations and Main Stream”, “How Blockchain Can Be Money”, and “Blockchain Innovative Companies

During the special lectures, Eyal Oster, President of MobileBridge Momentum, introduces the “Decentralized and Hyperconnected Society.” Also, Matsuda Gen, CEO of OKWAVE discusses the future of the digital currency economy.

Session tracks cover a diverse range of topics from discussion on the development of ICO ecosystem in Korea to practical advice for investment in cryptocurrency. It will be a good opportunity to see how the blockchain technology companies that have recently been in the spotlight will transform the world.

Topic: The Code of Innovation and the Blockchain 3.0

Date: May 17, 2018 (Thur.)

Place: Grand Ballroom (LL Floor), JW Marriot Dongdaemun Square Seoul

Host: MTN

Application: http://global.mtn.co.kr/globalissue/index.php

Q&A: 02) 2077–6307, mediabiz@mtn.co.kr

[MTN = Reporter Taehwan Kim (kimthin@mtn.co.kr)]

Original Article in Korean http://news.mtn.co.kr/newscenter/news_viewer.mtn?gidx=2018051110584038900


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