‘Good Morning’, a reward social networking service (SNS) based on blockchain technology, has launched its trial service on January 7th. The service constitutes a function of exchanging ‘Seeds’ along with greetings. These ‘Seeds’ can be converted into cryptocurrency later on. The service has gathered interest in the fact that it is a blockchain technology-based service that can be used in daily life.
MyCreditChain (MCC), which released ‘Good Morning’, is a blockchain data collection and distribution company that started out as an in-house venture of Finger, a FinTech platform company. Starting with ‘Good Morning’, MCC is determined to materialize its vision of returning the control of personal information to individuals in a step by step process.
MCC CEO WooSik Kim, who met with the Financial News Block Post on the 21st, explained that Southeast Asian countries, especially Indonesia, are showing great interest in the ‘Good Morning’ service. CEO Kim showed anticipation by stating that “we will be able to expand the number of users from 300,000 to 500,000 by the end of the year since we were able to gather 230,000 users just from Indonesia through our pre-registrant recruitment without any particular public relation activities.”
■ Pressing ‘Likes’ to receive Cryptocurrency: ‘Good Morning’, Grand Opening expected in the first half of 2019
‘Good Morning’ is an outpost concept for MCC’s vision of establishing a personal information related business. After obtaining meaningful data from the relationships between users within ‘Good Morning’, MCC plans to provide such data to companies in need of it. When users agree to provide data, they receive cryptocurrency as a reward for providing information. The company is also working with the Industrial & Mathematical Data Analytics Research Centre at Seoul National University to scientifically analyze the data obtained through the SNS.
Kim said, “In my old company, the employees while keeping their daily work log, had to gift ‘seeds’ to those who did them a favor. The initial purpose was to make the employees write their work log well.” Kim explained ‘Good Morning’s’ design background by stating “I was able to find out that the cumulated data became meaningful material.” Kim also emphasized that “Data regarding the users’ behavior pattern, savings, and consumption habits can be factored out through the act of exchanging seeds within ‘Good Morning.’”
MCC is expected to launch the grand opening of ‘Good Morning’ in the first half of 2019. The company plans to concentrate on expanding the number of ‘Good Morning’ users by launching a full-scale PR marketing. The company is paying particular attention to the Indonesian market. It has already signed business agreement contracts with three Indonesian companies and plans to promote ‘Good Morning.’ South Korea’s unclear regulation situation has made the company target a foreign country first.
■ 230,000 Pre-registered users just in Indonesia… Goal to become a ‘National App’ in Indonesia
First, MCC is cooperating with Epin, which has secured 65% of the Indonesian PC Café management program, and ‘Indoplay.com’, a game publishing portal with 21 million members. This is to allow the utilization of MCC tokens not only for PC room payment but also for game and shopping payments. The seeds accumulated in the ‘Good Morning’ application (app) will be converted to MCC tokens so that they can be used as PC room fees in Indonesia.
Kim stated, “Following Indonesia, we plan to expand our business to 11 South American countries, with Mexico and Peru at the core.” Kim further said, “In South America, we plan to make MCC tokens be used at PC Cafés as payment methods and also link MCC tokens with various points and.”
The reason why MCC is focusing on Southeast Asia and South America is that more than half of the people in the region are not receiving proper financial services. According to Kim, about 60% of the Southeast Asian population does not even have a bank account. Such a gap can be penetrated by blockchain and cryptocurrency.
Kim emphasized that in order for the number of ‘Good Morning’ users to increase, the number of places that use cryptocurrency must increase as well. It is essential for the MCC tokens to be used in a variety of places in order to avoid the situation of Good Morning becoming a dead app only used by cryptocurrency holders.
■ “Cryptocurrency as a scarlet letter, business alliance unexpectedly fell through”
In order to increase the number of places that use cryptocurrency, it is necessary to establish alliances with various companies. However, whenever MCC tries to push ahead with establishing alliances, the fact that it is a business related to blockchain and cryptocurrency becomes an obstacle. This is due to the government’s negative attitude.
In fact, MCC is unable to make good use of many business opportunities because of the negative perception of cryptocurrency.
Kim said, “Although the Good Morning Service itself is good, it is difficult to form alliances because it uses cryptocurrency and it is also challenging to receive benefits from various institutions such as financial institutions. Society prints a scarlet letter if cryptocurrency is mentioned. There were many cases in which partnerships with conglomerates suddenly fell despite initial discussions being positive.”
Kim added by saying, “Although this atmosphere will not be resolved at once, it is disappointing in that if only the government established minimal regulations, we would be able to expand our business by following the relevant regulations.”
Source: Financial News Reporter Heo Joon <firstname.lastname@example.org>
What is the Good Morning Service?
The Good Morning BETA service is a <Blockchain-Based Reward Social Networking Service> developed by MyCreditChain. Unlike existing social networking services, it offers a distinctive value by providing gifts called ‘Seeds’ in the form of ‘Likes’ that can later be converted into MCC tokens. It is an innovative service that allows for the direct and indirect experience of cryptocurrency without the investment of money. Although it is still in its beta stages, we hope to receive much participation and review for the further development of a more enjoyable and innovative service.
Building Trust with Your Data!
MyCreditChain (https://www.mycreditchain.org) is
A blockchain-based, decentralized, Trust Data Distribution ecosystem in which individuals have the ability to capitalize on their own information and expand relationships through the MyCreditChain platform in order to create new credibility for the underbanked. Our goal is to return the ownership of personal information back to the individual and to create a free and equal society by giving the ability for each individual to reap benefits from their personal information and Trust Data.
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