Hitachi Tests Private Blockchain for Rewards Points

Japan's Hitachi is working on a new blockchain test, one that explores how the tech could power its rewards points program.

AccessTimeIconFeb 23, 2017 at 4:00 p.m. UTC
Updated Aug 18, 2021 at 5:50 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

image04

One of Japan's oldest and largest conglomerates is now testing blockchain for rewards points.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • According to a blog post from project partner Tech Bureau today, the new trial finds Hitachi exploring how blockchain could be incorporated into its 'PointInfinity' program, a product launched in 2006 that enables its merchants to incentivize and collect data on avid customers.

    The test began on 9th February, and will progress with the goal of determining whether a private blockchain could meet the demands of a high-volume transaction system, the post said.

    In statements, Tech Bureau CEO Takao Asayama said that he believes the trial could help boost the perception of what he believes could be a powerful use case in Japan, one that he believes appeals to customers and corporates.

    Asayama told CoinDesk:

    "Since our Mijin blockchain has been tested by banks and other financial services, and proven that it can be applied for ledger systems, Hitachi decided to test our mijin to use it as a ledger engine for their own product."

    Asayama went on to project that the use of a blockchain as a distribution mechanism for rewards points could yield big results for enterprise users.

    "Our blockchain would help their product to reduce its running cost by over 90%," he said.

    For Hitachi, the move marks its latest foray into the industry, following its 2016 announcement that it would explore blockchain applications for its various business lines.

    Since then, Hitachi has teamed with Bank of Tokyo-Mitsubishi UFJ on a blockchain e-check trial.

    For Tech Bureau, this marks the firm's latest enterprise partnership following its $6.5m funding Series A in 2016. The Osaka-based startup oversees a cryptocurrency exchange (Zaif) permissioned blockchain platform (Mijin), aimed at enterprise markets.

    Metal keys image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.