Fujitsu New System Converts Reward Points Into Blockchain Tokens June 7, 2018 June 7, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsJune 7, 2018 by Kelly Cromley

Fujitsu New System Converts Reward Points Into Blockchain Tokens

FujitsuFujitsu, a Japanese IT hardware, software, and networking solutions provider, has launched a blockchain-based data storage system which enables retailers to tokenize promotional tools such as reward points and coupons. Furthermore, the system offers the flexibility to be integrated with promotions of all kinds, including those announced in shopping centers and tourism sector. Traditionally, these two sectors only offer coupons or digital points which can be spent in any other shop within the same zone.

One of the advantages of tokenizing digital points and coupons is that the data can be stored in a decentralized manner, reducing the tasks of a data center and allowing efficient data analysis.

Fujitsu believes that regional economies can be revitalized by extending the application to shops, schools, transports, restaurants, and tourism sites. The reward points can be made to circulate in tokenized form, encouraging consumers to shop frequently.

The final blockchain technology based system was created after conducting field trials in collaboration with the railway, convenient store, and telecom companies. Earlier this March, Fujitsu tested the tokenization technology at a branch in Taiwan’s Family Mart convenience stores. A distributed ledger was used to transact and record digital stamp data of the users.

Fujitsu is involved in a number of blockchain related projects. Recently, at Hannover Messe, the world’s largest industrial technology trade fairs, Fujitsu showcased IoT Solution INTELLIEDGE, which is based on IOTA’s tangle technology.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.