Japanese shipping company will launch cryptocurrency in 2019
The initiative of the company Nippon Yusen K.K. involves the use of the cell phone and includes the payment to the workers as well as offering the digital currency to other maritime operators
The Japanese shipping company Nippon Yusen K.K. announced that it plans to launch its own cryptographic currency for the first half of 2019. The initiative will apply to the crew members, as the company expects to make payments to personnel through said cryptocurrency.
The largest shipping company in Japan have been consolidated in the market since its founding in 1885. From April to September of this year its consolidated revenues were 915,600 million yen ($ 8,100 million). With the launch of its cryptocurrency it seeks to simplify the process of managing, sending and converting money in local currency of sea workers.
According to information provided by anonymous sources, the NYK group is currently working with local banks and software development companies in order to guarantee the ability of the digital currency to be converted to local currencies. Until now, the tests carried out by telecommunications on board have been successful.
It has not yet been indicated whether the platform will be supported by blockchain technology. What has been announced is that the company will resort to the use of smartphones.
The new platform “will allow shippers to digitize and organize their dangerous goods documents and automatically connect with relevant parties to expedite the approval process,” according to the press release.
M.Pino
Source: Cointelegraph
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