As part of the test, the SBI Group's employees will use the S-Coin Platform system to affect non-cash payments at the cafe and restaurants.
Japanese financial corporation SBI Group reported that it is testing a crypto token that will be used for retail payments on mobile devices. The investment wing of SBI Holdings is launching a test of the S-Coin token, developed on the basis of the distributed ledger technology.
In order for the employees to get access to the tokens, SBI Holdings has installed a terminal from Glory, which produces and manages automated cash devices. Workers will use the terminal to purchase tokens using a credit card and other methods, after which tokens will be credited to their mobile devices using a mechanism developed by SBI.
In July, SBI Holdings Corporation announced the launch of the full operation of the VCTRADE crypto exchange. Since January, the site has served a limited number of users who were pre-registered in October 2017. And in summer VCTRADE opened access to trading operations for residents of Japan at the age of 20 to 70 years.
WHY IS IT IMPORTANT?
- The S-Coin platform was developed by SBI Holdings and uses the distributed ledger technology. The project has ambitious goals. Its executives believe that the SBI company is designed to help create an infrastructure for performing non-cash settlements in combination with the capabilities of Orb and the Glory platform.
- The S-Coin project checks whether the corporation can meet the needs of various users. In the future, the company will consider the possibility of settlements using electronic money - for example, calculations using Glory products.
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