Last week Panasonic announced a project to explore using the DCJPY digital currency for tourist passes. DCJPY is the tokenized deposit initiative backed by Japan’s largest firms, which plans to launch in mid 2024. The core of the experiment will involve sightseeing passes that allow tourists unlimited travel on trains and buses for a fixed fee, plus discounts at stores, restaurants and other recreation destinations. The goal is to divide the proceeds of the tourist’s payment using smart contracts.
Other project participants will include DeCurret, the company behind DCJPY; au Financial, a subsidiary of KDDI Telecom (a top 20 Japanese company by market cap); IT consultancy TIS; and SocioFuture.
Two key scenarios to be tested are dividing the sightseeing payment and rewarding someone who refers the tourist. Like any typical sightseeing pass, there’s a fixed payment for an unpredictable amount of travel. At a technical level, the tourist pass is a non fungible token (NFT).
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