Digital currency: how KDDI uses blockchain to automate changes in a contract
※This is a machine-translated text of the original article.
KDDI Corporation and au Financial Holdings Corporation, WebMoney Corporation, and DeCurret Inc announced that they would conduct a joint review of digital currencies issued on the blockchain during the period from 18 February to February 28 2020.
In July 2019, KDDI Corporation invested in DeCurret Inc, which provides financial services for trading digital currencies.
This joint verification is part of the initiative to “promote digital currency business and create new customer experience value,” which is the purpose at the time of investment.
Conventionally, KDDI Corporation, au Financial Holdings, and WebMoney have been researching new services using Fintech to realize the “Smart Money Concept” which provides a smartphone-centric payment and financial experience.
In this verification, DeCurret Inc provides a platform for issuing and managing digital currencies over the blockchain that the company has built.
Using this platform, when WebMoney issues a digital currency and KDDI Corp distributes it to participants in the joint verification, participants can make payments using digital currency in a cafe prepared for joint verification.
Smart contract: how customers in a cafe pay for their drinks with digital currency while weather-based discount is automatically processed by blockchain
This is a technology verification that automates as much as possible a series of business processes related to the issue management of proprietary digital currencies, such as currency issuance, distribution, and amortization of sales proceeds from franchisees to statutory currencies through the settlement of sales proceeds.
The Smart Contract, which performs processing according to pre-established conditions, is also verified.
Specifically, when the temperature is lower than the previous day, the company will automatically lower the price of hot beverages and verify the effectiveness of automatic discounting.
Original Text: https://ampmedia.jp/2020/02/19/kddi-8/