Home / Crypto News / A new member to the card industry consortium! TIS announces participation as development staff!

A new member to the card industry consortium! TIS announces participation as development staff!

TIS Co., Ltd. of TIS INTEC Group, to demonstrate experiments on the sharing of information related to fraud that utilize distributed ledger technology that “payment card industry consortium that utilize the block chain technology, etc.” is started (DLT), to participate as a development partner We announced that.

This proof of concept seems to be aimed at reducing damage caused by unauthorized use by sharing information on unauthorized use of credit card between companies in real time by utilizing distributed ledger technology.

Nine major card companies such as Mitsui Sumitomo and JCB announced credit card misconduct system – by CryptoTimes

TIS has a capital and business alliance with “R3 HoldCo LLC” which is an American enterprise block chain company. Therefore, in this proof of concept, “Corda” which is the DLT platform of R3 company is planned to be utilized, and it seems that TIS is in charge of development of the diversification ledger base .

Corda of R 3 is an enterprise level DLT platform specialized for transactions to financial institutions, and not only to broadcast information to all nodes unlike block chains, It is a project that can be utilized at the institution.

According to TIS, we aim to expand the scope of utilization of distributed ledger technology (DLT) in the future, aiming to further improve stability and efficiency of financial institution system. Also, credit card industry is expected to be utilized not only for information sharing and fraud prevention but also for various uses such as KYC, cryptocurrency issue, point management and so on.

Author: sota 【Coin Desk News】 – Source Post: https://crypto-times.jp/tis-participate-in-card-consortium/

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