SBI Conducts Demonstration of its “S coin” in Roppongi!
SBI Holdings Co., Ltd. (“SBIH”), Orb Inc. (“Orb”), and Glory Co., Ltd. (“Glory”) have announced that demonstrations of the settlement coin “S Coin” issued by SBIH through “S Coin Platform,” which uses “Blockchain/Distributed Ledger Techniques,” will begin in October of 2018.
“S Coin” is a settlement coin that can be charged and settled on a smartphone. This demonstration experiment will be conducted by SBIH employees at restaurants located within their office at the Izumi Garden Tower in Roppongi 1-chome. They plan on building a mechanism that allows for cashless payments using “Stamp Certification.” The purpose of this demonstration experiment is to further advance the possibilities and usefulness of blockchain/distribution register technology in settlement fields, as well as to promote a cashless environment.
“S Coin Platform” is a platform that issues digital currencies developed by SBIH. Users can design and publish their own digital currencies according to their applications, such as prepaid electronic payment methods. The base part utilizes Orb DLT, a distributed ledger technology provided by Orb, which possesses the foundational software and the know-how in settlement areas that use blockchain related technology.
In this demonstration experiment, Glory’s automatic machine was installed on an S-coin platform together with a credit card charging method and a large number of products on a self-terminal. Cash is used to charge the “S Coin” on the wallet in the smartphone. By exchanging cash with various electronic currencies, the experiment aims to verify whether the needs of various users can be met.
SBIH, Orb, and Glory announced that it will create a cashless society by offering various forms of settlement infrastructure, looking to the FinTech market created by changes in user’s payment methods and technological innovation that have accompanied the popularization of smartphones in recent years.
