MOZO- New Breakthrough in Blockchain and IoT technology
Blockchains is a digital and decentralized cryptocurrency form of transactions. Continuously increasing, as new completed blocks are join to it in chronological order, it makes market participants be able to keep track of cryptocurrency transactions in some kind distributed manner (mostly own wallet), without central record kept. One of the closest examples is a distributed computer networking technology named TCP/IP, which is one of fundamental technology for the distribution of the Internet. Blockchain technology, such as Mozo, allows us to build peer-to-peer, low-cost, low-energy micropayment services between sellers and customers, without third party approval and without any mediator.
Possibilities of Mozo
Just imagine that you have a blockchain token that is transferable, and exchangeable cryptocurrency as a part of the retailer's offered loyalty program, a kind of token that inherits to the best blockchain achievements of global blockchain network as described above. Mozo is a very flexible payment tool.
Mozo uses smart contract technology to execute retail operations. This smart contract is an electronic algorithm acting between the seller’s smartphone or other IoT device (e.g. Beacon) and the customer’s smartphone after they connect each other’s device. The customer’s smartphone and seller’s smartphone can accept and process a transaction under customer’s command. In simple explanation, the Mozo contract is a user smartphone generated a reliable transaction that transmits control commands between user-user, user-device, or user-system. Thereafter, a smart contract created while the object of the smart contract processed to the blockchain networks.
Mozo’s team and vision
Project Mozo’s vision creates a flexible payment platform that attracts more foot traffic to physical stores. Mozo allows customers to do mining and collecting a cryptocurrency, named a Mozo token, also they can use Mozo application to explore new products at physical stores (i.e. sales grounds, digitized by the Mozo system). You can exchange Mozo tokens for other currencies such as Bitcoin or Ethereum. They can be traded for discounts on products or services at Mozo digitized stores and traded at the Mozo Redemption market; making it more attractive to establish a constant membership and reward system for merchants.
Team Mozo first described the mozo concept in 2015 in response to business requirements of Mall and Store Chain operators in Asia. While Team Mozo do they work on the newest projects, we discover extremely low customer traffic in malls on weekdays, and even on the weekend; and learned about the inefficiency of loyalty programs in the retail industry. Hence, we saw that this sector was ready for a change. The breakthrough in Blockchain and IOT technology in combination with the existing Mozo 2.0, the team Mozo saw an opportunity to change the traditional reward programs and to help bring walk-in customers by using Mozo’s cryptocurrency as the Token of Discovery. The Team Mozo formed by highly qualified and dedicated experts, who have a good deal of experience in this subject and collaborate together to build the New Loyalty program for malls and retail stores with no difference between physical and online stores.
Currently, we have signed up 38,000 stores, which are committed to using Mozo, and we are confident we can sign up many more. Our target is to sign up approximately 300,000 retail stores in 800 malls, or 12% market share in the Asia-Pacific region. This translates into annual foot traffic under our control of 8 billion. In our work at the Malls and Stores, we observed the pattern of foot-traffic and noticed an opportunity. In a time of blockchain and virtual coins, we saw that we could apply Mozo to increase traffic to the Malls and Stores. We hope you enjoy this one of the newest of our products.