3 is simply not true. The tokens lose all value if the airlines drop support for them or go under. Ownership of token != ownership of asset (in this case, real flight mileage).
All this complexity for the sake of putting an extra layer of friction (multiple representations of essentially the same thing) in front of the user. Sorry but I don’t see the point.
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To add: OST is essentially competing with BTC to be the backing asset here. But unlike BTC, which is decentralized & has something real behind it (the PoW chain), OST is centralized & is not backed by anything.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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the moment they fail, their price on the market would immediately drop to zero.