Japan's largest credit card issuer JCB announced cooperation with technology acceleratorTECHFUND to create a payment system on the blockchain.
According to the statement, JCB will apply the developmentsTECHFUND in the field of stock token offerings (STO) and staking to create a new blockchain payment platform. The companies also plan to use machine learning for joint research.
TECHFUND Technology Accelerator is based inTokyo, among other things, is promoting the ACCEL BaaS program, whose goal is to accelerate the implementation of blockchain among startups and enterprises. JCB in December announced that it plans to deploy a new solution on the blockchain for payments between enterprises.
Although credit card issuersThey are wary of blockchain and cryptocurrencies; they are gradually starting to enter the industry. Visa recently filed a patent application for a “digital fiat currency” that would have the benefits of cryptocurrencies but would be issued by a “centralized authority.”
Additionally, last November, Visa stated thatis working on a blockchain system for collaborative computing over large volumes of sensitive data, and in the summer of 2019 the company launched a blockchain-based payment platform for corporate clients.
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