Opinions

Metap Plus & OST Collaborating to Represent Digital Assets as Non-Fungible-Tokens

Metaps Plus, the top Korean mobile marketing platform, has recently announced a strategic partnership with OST, the organization that enables mobile applications to incorporate the use of blockchain partly, which could potentially lead to a large scale adoption of blockchain-based applications. Through this newly formed alliance, Metaps Plus will be initiating the development of blockchain-powered mobile coupons and will be enabling payments as well. This addition will be made by bringing into use the OST technology, and OpenST and the OpenST Mosaic Protocols.

The establishment of this alliance took place after Metaps attended the OST presentation at HASHED in Seoul, South Korea. This presentation played an essential role in making clear to Metaps about the functionality OST could provide to applications using OpenST and OpenST Mosaic Protocols, who were at that time in search of blockchain developing organization that could integrate blockchain technology into their company’s preexisting solutions. OST, empowering multiple companies all over the world, seemed to be just the right choice for producing a scalable, flexible and efficient decentralized system to cater to the needs of the massive clientele of Metaps. Jisoon Lim, the CSO of Metaps Plus laid emphasis on how this partnership might prove to be valuable for both organizations saying,

OST shares our vision and values and is building cutting-edge Blockchain infrastructure and tools. We look forward to working together, leveraging our established business network in Korea and OST’s technical expertise, thus bringing more opportunities to customers, brands, and merchants.

The first and foremost functionality OST will be in charge of implementing will be tokenizing the mobile coupons. Digital assets being represented by non-fungible tokens is to be the first order of business. While the rather archaic versions of coupons, paper-based, might have been interesting to collect and avail, they are sometimes bound by certain constraints such as expiration date, limited purchase, or its validity at limited store locations. Being digitized and decentralized would allow these tokens to be transferable and would bring all the other much-doted features that a decentralized ledger typically provides i.e. scalability, flexibility, transparency as well as immutability.  Dr. Chris Dark, the  Co-Founder and CCO of OST, commended blockchain due to the myriad of functionalities that it provides,

Blockchain technology will revolutionise loyalty programs across the world, empowering consumers by allowing them to own what they have earned. We are thrilled to partner with Metaps Plus, and to work with them to build a next-generation mobile coupon ecosystem.

With OST empowering new economies and Metaps providing services to 300,000 daily active users, this partnership is amiable to both companies as it could strengthen their position in the world of blockchain.

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Habibah Shahid

A Computer Science student but a writer at heart. Habibah writes about Cryptocurrencies and the underlying technology, Blockchain, with the perspective of a Computer Scientist. Email: habibah@blockpublisher.com or contact the editor at editor.news@blockpublisher.com

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