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Mileage basically has the same value as cash. However, it is limited to the promised matters with the issuer.
If the issuers are diverse and the promises made are different, it will be very difficult to use them practically. If you pay a certain amount when buying in Korea, would you be able to buy it by dividing the amount into these four currencies: CAD (Canadian Dollars), USD (US Dollars), CNY(Chinese Yuan), and JPY (Japanese Yen).
It won't be easy. If so, is there a common currency that is universally used anywhere in the world, and if so?
You can trade anywhere in the world without restrictions. Like the EUR(euro) of the EU (European Union). AMC applies it to the mileage so that it is dispersed in many places and its amount is small so that the mileage that was practically unavailable is integrated to be used.
More on the project: http://amcwd.com/