New regional cryptocurrency for Japan

Japanese company Soramitsu wants to issue a new cryptocurrency at Aizu University. This is intended to test regional use by retailers on campus.

Tokyo-based crypto start-up Soramitsu is working with public institutions to make cryptocurrencies applicable to everyday payments. The company had already contributed to the development of a digital central bank currency (CBDC) for the country of Cambodia. According to the Japanese news magazine Nikkei, there is now a new project that is to be tested on a small scale at Aizu University – which belongs to the Fukushima Prefecture.

 

Pay for the coffee with White Tiger

In order to pay with cryptocurrencies in small shops and restaurants on the campus of the University of Aizu, “White Tiger” was launched. The cryptocurrency is based on the Hyperledger Iroha blockchain and should be ready for use tomorrow, July 1st. The launch of White Tiger is part of a smart city campaign. The participating shops will be able to receive digital payments from the approximately 120,000 inhabitants of the area via smartphone apps or customer cards.