Hitachi, KDDI Experiment with Blockchain-Dependent Naked Payments

Hitachi, KDDI Experiment with Blockchain-Dependent Naked Payments





” Unlike other nascent bare payments systems aimed at directly linking consumers’ biometric information to their payment accounts, Hitachi’s system revolved all over coupons, making it possible for individuals to dispense with the real paper, and encouraging merchants to be certain that coupon use is correctly tracked and accounted for.”

Hitachi, KDDI Experiment with Blockchain-Based Naked Payments

Hitachi and Japanese telecom KDDI have performed a trial of bare payments technologies built to allow clients at a KDDI keep in Tokyo and at a specific Mr. Donuts shop pay for their buys with a fingerprint scan.

In announcing the trial, Hitachi pressured the system’s use of blockchain technologies, which was carried out as a result of a 3rd companion in the venture, Hyperledger Fabric. Taking part shoppers’ information was distributed throughout a decentralized ledger, making sure that the payment programs would not be dependent on a central server, even though encouraging to guard in opposition to likely hack attacks.

As for the biometric payments themselves, they were being centered on fingerprint authentication, which individuals were being needed to submit at the time of registration for the system. Unlike other nascent bare payments systems aimed at directly linking consumers’ biometric information to their payment accounts, Hitachi’s system revolved all over coupons, making it possible for individuals to dispense with the real paper, and encouraging merchants to be certain that coupon use is correctly tracked and accounted for.

The trial ran only two times, from July twenty fifth to twenty sixth, and in announcing it Hitachi regularly referred to it as an “experiment”, so there is no reason to believe that Hitachi and KDDI intend to adhere to as a result of with a big-scale bare payments system. But the pursuit of these an experiment in alone suggests that these significant corporations see significant likely in biometric payments systems, not to mention blockchain accounting.

Sources: Coindesk, AMB Crypto, Hitachi






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