Hitachi, one of the world’s most diverse multinational company that works within eleven segments of business, has recently decided to implement a syst
Hitachi, one of the world’s most diverse multinational company that works within eleven segments of business, has recently decided to implement a system where transactions become easier to process through the cryptocurrency.
This condition applies to its current point reward platform called PointInfinity, and per the agreement between Japanese Blockchain Developer, which will provide “Mijin” its modern blockchain solution to Hitachi.
Due to low costs and ease of use, Hitachi’s PointInfinity system has gained immense fame over the past few years by service providers and dealers that start loyalty based programs for frequent customers.
Implementing Mijin to its existing system will help the company to regulate the feasibility of PointInfinity when large amounts of transactions and e-payments take place on different blockchains. Making it suitable for a wider audience without any errors is something that appeals to all the entities involved.
This news first originated through Tech Bureau earlier this year, and they also claim that both the blockchain solution and its NEM cryptocurrency have proved themselves in Japan as counter coinage and more than 300 companies already deal with it.
During previous case studies, a significant number of transactions could occur from several locations, through point services, their concentration in one place did not have any issues, whereas, blockchain solutions also helps with the calculations of interest rate and other values.
Once the current testing and data analysis comes out to be successful, Hitachi could become one of the first companies to implement the operational blockchain technology within its various sectors that include IT Systems, Social Infrastructure, Electronics Components, Automotive, Consumer Products, High Functional Materials & Components, Financial Services and Power Systems.
At the same time, the company keeps on investing in intramural solutions and development of cryptocurrency management system and therefore Fintech Lab in California was recently opened. Therefore, Hitachi becomes one of the founders of Hyperledger Project, a new blockchain cross-industry product that originates from Linux Foundation.
Regardless of the internal activities, this deal helps with opening new ventures that deal with membership based on points and providing merchants with services and rewards due to the engagement of the larger audience.
Even the government and relevant Ministry have shown a keen interest, and per some reports, they suggest that this experiment could lead to social changes through blockchain technology.
Another factor that contributes towards the suggestion of reforms is that Hitachi have more than 150 million customers on their system and this beta test will help with the product development and the increase in revenue from around the world.
The goal of this experiment stays the enlargement of deals from buyers because the points get used as currency, and several new services come into contention because of this development.