Japan-based JCB, an accustomed business to business (B2B) payments company, is teaming up with the Singapore blockchain tech band-aid developer Keychain, in adjustment to arrange DLT-based platforms in the country’s payments industry.
According to a columnist release, Keychain is creating a new abstracts aegis framework for Japan’s financial, automated and action sectors. The company’s capital artefact offering, Keychain Core, is a “solution accelerator” that allows its business ally to advance assorted apps with “self-sovereign identity, data-centric security, defended workflows, contracts, and adjustment and custom agenda assets.”
Keychain Core is reportedly accordant with the Internet of Things (IoT) devices, desktop computers, tablets, adaptable phones and acute wearable devices.
JCB’s administration acclaimed that it will be application Keychain’s solutions to apparatus cybersecurity appearance and “operational candor in next-generation payments systems.”
Established in 1961, the Japan Acclaim Bureau abbreviated its organization’s name to JCB in 1978. The close launched the nation’s aboriginal acclaim agenda that was issued in accordance with the ISO standard.
Founded in 2016, Keychain has accustomed investments from Monex Ventures and IDATEN Ventures. In 2017, Keychain Core accustomed an accolade from Japan’s Ministry of Economy Trade. The avant-garde artefact alms additionally accustomed the Global Fintech Accolade by the Association of Banks in Singapore in 2018.
Notably, Keychain Core was alien two years advanced of its planned release.
Jonathan Hope, Keychain CEO, stated:
“Keychain gives our ally admission to applique that is fit-for-purpose in analytical applications, two years advanced of what a contempo blockchain abode by Allied Business Intelligence appropriate would be accessible on the bazaar alone in 2021.”
Earlier this month, JCB appear it had teamed up with Paystand, a blockchain-powered bartering payments band-aid provider. The affiliation amid the two companies aims to accommodate an end-to-end agenda payments belvedere for JCB audience and ample enterprises based in Japan. The band-aid aims to abode a ample gap in Japan’s B2B payments sector, and offers the JCB’s accumulated audience a applicable another to acceptable acquittal methods (e.g. acclaim cards and banknote transactions).
Japan’s B2B payments ecosystem has annual volumes of about $10 trillion, however, best of these affairs are acclimatized with cash. Alone about 1% of Japan’s bartering affairs are performed with acclaim cards, and a actual baby allotment are acclimatized with coffer transfers.
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