TOKYO, Aug 29 (News On Japan) –
Japan’s first digital currency-based company settlement service, protected by know-how to forestall counterfeiting and unauthorized entry, is ready to launch.
Miwa Yamai, Executive Officer at IIJ, commented, “Honestly speaking, it’s not so much about increasing transaction volumes but more about the ability to use a new form of settlement.”
This service makes use of the digital foreign money “DCJPY” issued by GMO Aozora Net Bank.
Unlike digital currencies equivalent to Bitcoin or digital cash issued by non-public corporations, this kind of digital foreign money is backed by deposits in common currencies like money and issued by home monetary establishments.
It employs blockchain know-how to hyperlink information on who owns it and what it was used for.
Initially, main telecommunications firm Internet Initiative Japan (IIJ) will undertake this digital foreign money for settlement transactions with its company companions.
Source: ANN