Announced that TIS INTEC Group Inc. INTEC Co. , Ltd. and Toyama Daiichi Bank Ltd. began demonstration experiments of cryptocurrency in banks using block chain technology .
The coin which is planned to be newly issued in this demonstration experiment is called the First Bank Coin (FBC) , which is a stable coin pegged with Japanese yen. By opening an account exclusively for FBC in the line of Toyama Daiichi Bank and issuing a cryptocurrency equivalent to the Japanese yen to which the employee has transferred, it will become possible to purchase goods at in- line kiosks and remit between individuals among the members is.
What is a stable coin backed by a stable asset? Explanation of features and applications
On the block chain infrastructure, the block chain collaboration platform developed by the National Bankers Association for the demonstration experiment of the banking industry seems to be used.
POINT The National Bankers Association is an organization that most of Japanese banks are members of, and it operates the “Banking System” of interbank networks. “Block Chain Cooperation Platform” is a project aimed at building interbank networks utilizing distributed ledger technology.
In addition, for settlement and remittance, by using the smartphone application (First-B Pay) developed by INTEC and Toichi Daiichi Bank, a mechanism is implemented in which settlement is completed by simply reading the QR code with a smartphone.
Author: sota 【Coin Desk News】 – Source Post: https://crypto-times.jp/intec-toyama-first-bank-demo/
Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for informational purposes only. We are not an investment advisor and do not provide financial advice.
It’s also important to it properly to diligence and analysis, including consulting a professional financial advisor, No content on Coin News Desk makes up a recommendation to enter in any type of investment or to engage in any investment strategy present on this website.