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- KDDI, AU Financial Holdings, WebMoney, and Dee Caret have announced that they would introduce a joint verification system.
- From today until the end of the month, the smart contract would also ensure that automation and verification of the digital currency issuance.
- The four companies are not limited to this joint verification process only. They are also planning to launch a “Smart Money Initiative.”
Today, February 18th, KDDI, au Financial Holdings, WebMoney, and Dee Caret have announced that they would introduce a joint verification system. This verification system would come in handy as it will automate the processing of digital currencies that are issued on a Blockchain.
From today until the end of the month, the smart contract would also ensure that automation and verification of the digital currency issuance. It is a part of the business related to distribution and amortization as well as settlement processing identity issues for practical use.
As a part of this joint venture, the verification, issuance of digital currency, distribution, and amortization will be verified with the help of a Blockchain platform made by Deaklet. Web Money would get the responsibility to issue the digital money. Web Money is a well-known company in the money transfer business.
The job of distribution comes under the control of KDDI as a part of this joint venture. The participants would settle and use the digital currency at one of the verification cafes.
The joint verification process would also ensure that the discounts, which are automatically applied, are valid or not. This would ensure that the cafes provide the best possible prices at any given time, making the process more dynamic.
The four companies are not limited to this joint verification process only. They are also planning to launch a “Smart Money Initiative.” This upcoming project would provide a payment service that is centered on mobile phones.
It would allow the customers to perform payment and other payments related options on the mobile phone of the customers. They are planning to use the Fintech technology to realize this project.
The joint verification is a part of a project that aims at promoting the use of digital currencies and related business and make people familiar with Blockchain technology. KDDI invested in Dee Caret in July 2019 with the same hope.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
