Good news for the OmiseGO community today: ShinhanCard and OmiseGO (OMG) have developed the first Proof-of-Concept for the ShinhanCard loyalty program that will enable borderless interoperability.
OmiseGO and ShinhanCard partnered in April 2018 after both parties signed a memorandum of understanding to explore new opportunities in the blockchain space. The ShinhanCard is issued by Shinhan Financial Group, one of the largest banking entities in South Korea.
The OmiseGO team tweeted today:
As a product of the MoU signed in April last year with OmiseGO, Shinhancard demonstrates a cross-border PoC with the aim to expand the acceptance of ShinhanCard’s loyalty program to international markets & enable borderless interoperability. Read more at:https://t.co/nyfFmCB8tK
— Boba Network 🧋 (@bobanetwork) January 28, 2019
With the ShinhanCard, the Shinhan Group aims to give users reward points that can be used with almost all online and offline merchants in the country. Furthermore, users of the ShinhanCard receive extra benefits from purchasing products on their payments app called ShinhanPay FAN.
OmiseGo shared a video of the transactions of digital assets with tokenized value that will be used to represent the reward points on ShinhanCard.
Both OmiseGo and ShinhanCard are working on research and development together to further explore the potential of plasma and blockchain. Hopefully, more product and services will come out of this partnership in the near future.
At the time of writing, OMG is trading at $1.12, down 5.10% over the past 24-hours, according to data from CoinMarketCap.