Combining travel and leisure points? Here comes MiL.k
The MiL.k project doesn’t necessarily boast about its blockchain technology. The co-op between Keyinside and Dunamu’s blockchain subsidiary Lambda 245 is an initiative that combines accumulated mileage and leisure points into one platform. After announcing a partnership with Yanolja last month at the Upbit Developers Conference, the project is making progress by announcing Thursday its additional partnership with Deliverycar and Seoul Air Bus. Q. Tell us about the MiL.K project, nicknamed “travel coin.” People nowadays don’t book for packaged tours but rather go for affordable accommodation and cheap flights. What if you can combine the point systems for each service and its website into one? MiL.k is trying to provide a comprehensive mileage service within an alliance and attract potential customers for accommodation, rental cars and leisure activities. In the MiL.k platform, you can combine each partner’s mileage points and use them as MiL.k coin. Keyinside is the developer of MiL.k Partners in charge of most business development initiatives. MiL.k Partners runs separately from Keyinside, and its job is to manage partners like Yanolja. The nicknamed “travel coin” shows the company’s urge to combine leisure, travel and lifestyle activities in to one. Q What’s the latest on the project’s official debut in the 4th quarter this year? MiL.k is concentrating on acquiring partners at this point. Providing better services is a way to acquire real users, and in that sense, what partners the Milk Alliance has is key. There were many point exchange programs within local companies, but this is the first time a point swap alliance has been formed among different industries. To make that happen, the project is in discussions with airlines, accommodation, car rental and leisure industry leaders like Yanolja, Deliverycar and Seoul Air Bus. Q. What benefits to do companies gain from joining the Milk Alliance? To combine points, companies engage in long discussions. After agreeing on how to partner, the plan runs through a development stage and is tested. This process, no matter how quickly pursued, takes at least a full month and even up to half a year. By using MiL.k, companies don’t necessarily have to spend their resources. By using blockchain technology, MiL.k comes up with a standard and provides that to partnering companies. Even without professional developers, companies can run APIs as if they operate mobile carrier points. No additional transactions and exchanges are needed. By converting points to the MiL.k platform, companies no longer have to work within themselves to operate their point system. Q. Demand for points could be swayed for one specific company. How would that be avoided? The original point system cannot avoid the herd behavior of users rushing to use their points for a specific company. But MiL.k is looking to do a community marketing campaign for all companies within the Milk Alliance. For example, those who book accommodation on Yanolja could be offered a chance to get benefits using Deliverycar. One advantage of the travel industry is that it has both inbound and outbound demand. If partnering with point systems from foreign companies, the project could expand its number of users both in and out of the country. Back when OK Cashback was popular, people even bought ketchup just to stack up OK Cashback points. That is brand power. By setting up the alliance, the platform can resolve worries for companies and improve customer retention rates even while providing benefits to users.