The new payment system with cryptocurrencies will benefit tourists who want trains belonging to the Japan Railway Group company
Japan has become one of the countries with the highest technological growth in the world. It is also the one that more technology adoption has had. In this way, it allows an easy access to the latest technology to most of its population, as well as facilitating trade and tourism in the country.
With respect to the use of decentralized technologies, smart contracts, or the adoption of cryptocurrencies, Japan has made important advances in its development and definitive control. In this sense, there is a significant number of companies in Japan that have decided to incorporate payment methods with cryptocurrencies, in order to diversify their economic growth, among other points.
In this sense, the most important railway company in Japan, Japan Railway Group (JR Group), recently announced that due to a series of commercial expansions and negotiations, in order to improve their services, they have decided to accept some stablecoin and cryptocurrencies as a method of payment for all ticket office. According to its official announcement, this will benefit its most frequent users, as well as tourists who have decided to reserve their money in virtual wallets.
About the system that the transport company will use to offer the new service, it was known, through a recent report of the chain of press ANN News, that among the main allies of JR Group for the launch of the system is the prestigious Internet provider and network solutions, Internet Initiative Japan (IIJ), which will allow the necessary access to conduct the purchase in an efficient and reliable way.
The use of a smart card has been enabled to facilitate the purchase of tickets with cryptocurrencies. The Suica card, which will allow the user access to the box office paid with cryptocurrency, will be strongly supported with the Exchange DeCurrent system, as well as the support of the aforementioned internet company IIJ.
During the official announcement of the measure, the Executive Director of the company JR East, which will support the smart card system, Shinobu Noguchi, commented that the measure corresponds as part of its corporate growth plans, as well as its investment motivation in the transport sector.
“Suica from JR East operates the same settlement business, and is in a position to invest in Dikalet, and is expected to develop its services to create a payment infrastructure based on transportation infrastructure (…) we started charging and using cash, which It is a general-purpose payment method, but I think it will change greatly as the flow of ‘no cash’ flows”, he concluded.
About the new support panel that the JR Group transport company hopes to enable, in some press report, the intention to create its own cryptocurrency was mentioned. This means that the assembly of an entire payment processing system with cryptocurrencies will be conducted. This suggests that in the medium term, the JR Group transport company will create an alternative company which will generate revenues based on the collection of commissions for transactions made with cryptocurrencies.
On the one hand, it is currently unknown with certainty which will be the cryptocurrencies that the Suica smart card will admit for the collection of this service. On the other hand, the system of the DeCurrent Company accepts the most commercial cryptocurrencies, such as: Bitcoin (BTC), Cash (BCH), Litecoin (LTC) and Ripple (XRP). This is the reason why it is believed that said cryptocurrencies will be the ones admitted by the system in order to purchase the train tickets in the above-mentioned Asian country.
By María Victoria Rodríguez