We intend to develop MeconCash into a platform that allows user’s assets to be transferred and traded between different types of services by integrating point reward systems, contents purchase, and settlement, which are currently operated separately between existing services and those under development. To that end, we will build the reward and settlement system, develop the API to connect it with other services, and build an ecosystem that can be used in the on- and off-line real economy. All this will ensure the usability, connectivity, and sustainability of MeconCash.
We will develop a variety of mobile-based applications, games, and contents on the platform and link it with such services as online marketplaces where users can purchase products. The reward system used by a service generally invalidates the rewards owned by users when the service is terminated. MeconCash, however, can transform the rewards obtained from using our services into valuable assets. As such, users will be able to fulfill the demand for new services with MeconCash even when the services they use are terminated, make transactions between them, and use the assets in the real economy. We will stabilize the MeconCash ecosystem by developing new blockchain-based businesses and linking it with external services.
There is no commission internal transfers between MCH Wallets, and transfers are processed quickly and immediately. For MCH Wallet transactions with external wallets and other platforms, the MCH Wallet Node is liable for the Gas fee, while the user pays the commission fee with MCH.
M.PAY is a payment service that enables MeconCash and various coins to be used for payment, reward, and cash withdrawal online and offline. M.PAY and MCH are of 1:1 equal value. M.PAY is a easy payment service that accepts the blockchain-based cryptocurrency ‘MeconCash’ for payment and is currently used in daily life in connection with various services.
The MeconCash Wallet provides various cryptocurrency wallet services, and the supported cryptocurrencies can be converted to M.PAY in accordance with the trade price between MeconCash and a given cryptocurrency. Thus, all cryptoclurrencies applied to M.Wallet (Multi-wallet) can be used to pay for all the services in the MeconCash Ecosystem.
The MeconCash system is composed of the blockchain area, which saves smart contracts; a payment ledger; and the service area, which implements an actual service using the OPEN API and API that connect the blockchain area with the actual service. The service area is operated in the form of individual services, but for the M.PAY reward and the payment, it is operated in connection with the API, and each service is integrated and operated in the management system.
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