What is MiL.k (MLK) | What is MLK token

MiL.k platform connects various service companies in travel, leisure, and lifestyle sectors by enabling integration and trade of their reward points using Milk Coin (MLK) as the key currency

Lifestyle-related business is emerging fast these days. Economic growth brought us greater income and less time spent on work to let people seek out their own ways to relieve physical and mental stress. For the last 10 years in Korea, expenditure related to leisure has risen by nearly 60% percent and the competition between associated business platforms is getting fierce as well.

This delivered multiple features and tools to attract new customers and the most familiar one to us might be the ‘mileage’. In fact, Korean credit card companies have distributed nearly 2.4 million dollars to the customers as mileage points.

‘But where did all these mileage points go?’

Points scattered across accounts

The current mileage point model does not provide a proper incentive nor it motivates customers to create repeat sales.

For instance, when you go on a trip, you need to make multiple payments for services from a flight, stay to a rented vehicle and naturally, points from each service would be collected to your account. The mileage adds up through those services but because of those divided platforms in a single service category, it is rather difficult to pool the points from each platform and use it for a certain service.

This is where we face the limit of the current point system

Points earned from each service are not exchangeable and since users can’t pool it either, some points just expire without actual usage. Users may seem to collect so many points from various platforms but in fact, it requires their constant attention and management to actually use them.

On the contrary, the mileage point providers are not marketing it efficiently, either

Points should be consumed right for marketing to work. Many providers actually understand it and actually trying to unify the mileage system.

But it is only possible under the same industry or within the same affiliates because of the two major obstacles — personal data and point calculation. Truth be told, in the current state, it is impossible to unify the point system unless the platform is an affiliate of H brand, C brand, or S brand.

MiL.k — Point integrating platform based on Blockchain

‘ What if you could integrate the deserted points across the accounts and use it for the service you need?’

From now, MiL.k alliance will come together to be your solution

As the point accumulation rate increases per purchase and service, the mileage market is scaling its size up as well. Service users would be encouraged to repurchase through the mileage point service and firms are securing regular customers with such marketing strategy.

But points are no longer being rated high as a marketing tool due to the current systematic limits mentioned earlier and the firms have to spend considerable time and money on mileage programs.

How could we bring this mileage point market back to life?

MiL.k platform helps users to integrate points from different services. MiL.k platform users can review the points from services under the MiL.k alliance on a single platform and can transfer the existing points to MLK as well to swap it into another point usable on other services.

Service providers can join the MiL.k alliance to build the mileage point system with simple steps, based on MiL.k API. Furthermore, they can expect customer inflows from other services to secure them via point exchange and the synergy effect could be obtained as well with the marketing on MiL.k platform.

So how is MiL.k making them all possible?

MiL.k, on Blockchain

MiL.k chose to apply Blockchain and it aims to tokenize the mileage point efficiently. Also, through Blockchain, users would get to exchange tokens with safety and trust. MLK, MiL.k’s own platform token will be the medium for exchanges from point A to point B to meet users’ needs.

The point can be liquidated through exchanges of course if needed, which means the greater utility for users.

With MiL.k’s API, it is time and cost-efficient to be under MiL.k alliance than applying the existing point systems and it is easier to build or integrate. Also, there is a separate chain allocated to a firm to prevent unwanted information exchanges and service reliability is assured with a transparent audit on Blockchain.

Furthermore, the infrastructure worldwide of MiL.k alliance and the global partnerships will deliver the ultimate goal of integrating global lifestyle mileage points to be used and exchanged on MiL.k.

‘Yanolja’, the first partner to choose MiL.k

As described, MiL.k is securing service partners from diverse sectors to build Blockchain-based lifestyle points exchanging market. The first and major partner of MiL.k alliance is ‘Yanolja’.

Yanolja, the leading Korean accommodation platform is marking a steep growth and expanding its business aggressively to be a global titan as taking over ‘Daily hotel’, a major Korean accommodation platform, ‘Hotel now’, ‘Leissureq’, and ‘eZee Technosys’, a firm where provides CMS and PMS.Yanolja faces up the problems on the current points market and joined, together, to fulfill MiL.k’s vision to manage efficient mileage points exchanging market and there will be diverse collaborations to be the global leader of the lifestyle market as MiL.k’s first partner.

When MiL.k alliance is formed globally, users will be able to use the wasted and deserted points in various ways and firms will acquire millions of customers using MiL.k as global marketing being supported.

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