Japanese Railway Company to Test Its Own Cryptocurrency

September 17, 2018

Japan-based Kintetsu Group Holdings Co., Ltd. together with Mitsubishi Research Institute has declared a new social experiment involving their own digital currency Kintetsu Harukas Coin. Note that the initial coin tests were made in September last year.

The experiment is claimed to last form October 1 to December 10 at around 400 stores in a number of prefectures , at Harukas 300 Observatory and Abeno Harukas Art Museum. Kintetsu partner banks’ credit card and KIPS card holders can join the testing by just filling in according application at the group’s website.

To execute payments with the use of the new cryptocurrency users will have to install special QR-code scanning app to their smartphones. Coin owners will be able to transfer coins while stores to hold detailed analysis customer databases and gain information on all purchases they had made to promote their ad campaigns.

In addition, as the poll held during the first Kintetsu Harukas Coin testing has shown, 90% of participants said, they had never used digital currencies before. Despite all this, over 85% of respondents have recognized the solution efficient and voiced their wish to have this payment method in the future.

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