Korean Startup M2O Gets Patent for Tokenizing Bonus Points

[Goodcat49]

There was much said and written about blockchain and its cutting-edge features that can be applied to any industry or company. Blockchain itself is not the answer, but a fuel for future creations and innovations. And those who understood it before anybody else will receive or has already received all the credit and recognition.

As a result, some sort of blockchain patent war began. Huge multinational corporations worldwide started investing in blockchain research and its possible applications. A media outlet Alibaba tops the list with a total of 90 patents focused on decentralized technologies, followed by IBM, MasterCard and Bank of America. They are planning to utilize blockchain in various fields, ranging from data security to finance and remittance.   

A Korean startup M2O developing a solution for applying the technology in loyalty systems hasn't been left unnoticed. It has been announced that it recently received the Certificate from Korean Intellectual Property Office. The certificate was granted for ‘the method for mileage integration and real asset capitalisation using integrated platform of FinTech and blockchain’. In other words, M2O now has a patent for their platform that allows customers to exchange points with cryptocurrency tokens and use them for goods and services of various merchants affiliated with the project.   

The fact that M2O project was given a certificate, that is quite rare for start-ups, highly demonstrates that their invention is pioneering, non-obvious and useful. By achieving a patent, the project’s team guaranteed themselves an honest, fair and straight treatment from different companies and markets.   

“We clearly see now that blockchain technology attracts not only small FinTech startups, but world corporations are also getting excited about it. The number of blockchain-related patents is increasing. It proves that this technology is not just a hype, it is a strong trend that will define our future. We are really proud to stay at a frontier of it,” M2O's CEO Henry Kim said.   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/korean-startup-m2o-gets-patent/