Japanese company JCB will launch a blockchain-based payment system

The leading payment giant in Japan, JCB, has announced a partnership with TechFund, a local venture capital firm, to create a dedicated transaction network based on a distributed registry.

In particular, it is noted that the collaboration will focus on TechFund’s experience in offering security tokens (STOs). This venture company was not chosen by chance: the main office is located in Tokyo and the list of its services includes the introduction of the ACCEL BaaS (“blockchain as a service”) function for the quickest possible connection of projects to work with distributed registry technology.

The global goal of cooperation is to contribute to the development of society through the modernization of payment systems.

Add, Japan’s largest payment system JCB was created in 1961. Her cards were widely used not only in the country, but also abroad (in 2018, 130 million people became plastic holders). Currently, the company focuses on the introduction of innovative solutions for online payments. In 2018, JCB joined the Association to transfer the banking transaction registry to the blockchain, which also included the Sumitomo Mitsui Card, Credit Saison, SBI Ripple Asia and others.