Japanese IT Giant Fujitsu To Revitalize Local Economy Through Blockchain

Fujitsu, Japan’s largest IT services provider and number 10 in the world has announced the launch of a blockchain-based reward points system. The company has in recent years made a commitment to explore blockchain and other distributed ledger technologies to help come up with revolutionizing ideas that transform the way consumers and enterprises buy and sell goods.

Fujitsu Intelligent Society Solution Blockchain Asset Service

The company has called the system “Fujitsu Intelligent Society Solution Blockchain Asset Service” and the company says that the system will help revolutionize the local economy using blockchain technology.

The service will be used to encourage local economy through ‘tokenization’ of reward points from retailers. The technology uses reward points such as digital points, stamps and coupons, which can be used for a limited time in specified areas including tourist sites, markets, and shopping centers using blockchain technology.

System Application

Fujitsu believes that this will encourage people to buy more and would potentially lead to the revitalization of the local economy. In recent days, Japan has become a leading tourist attraction and the technology looks to utilize this opportunity and encourage revenue flow. Through their website, Fujitsu says that by connecting events and promotions held in tourist areas or shopping centers with this service, users can improve the rate at which they attract customers and increase their willingness to buy. This information can then be used to form patterns and trends to create more events or coupons to attract more tourists.

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The company has made it easy for customers as the system comes in the form of an API and the digital points can be accessed by reading QR codes in specific locations. Fujitsu believes that if successful, the technology can be applied to shops, restaurants, schools, transportations and tourism sites.

In contrast to traditional data centers, this system will allow for lighter workload and allow for client information analysis.

In March, the company was able to test this technology using digital promotions with some organizations including the Odakyu Electric Railway, Taiwan FamilyMart and The Chiba Bank, and according to the company the tests had been satisfactory.

This announcement comes months after the company opened an International Blockchain Innovation Center in Brussels, Belgium. The office that was opened March 21, 2018, was aimed at understanding blockchain technology and its potential use. According to the company, this will go further than financial solutions where it has already proven successful but rather in systems and sectors of all kinds.

The decision to open the offices at the heart of Europe was aimed to ensure that customers from all over the world are included. The company also aims to partner with several industry leaders to better understand the technology making Belgium the best location for operations.

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Author: Steve Kaaru”