Japan's JCB and Keychain sign Partnership to consider Blockchain for Payments

Japan's JCB and Keychain sign Partnership to consider Blockchain for Payments

Japanese Business to Business payments firm, JCB is partnering with Keychain to capitalize on using blockchain in the payments space, according to the announcement.

Keychain was established in the year 2016. The investors include IDATEN Ventures, Monex Ventures, and others. Keychain Core received an award from Japan Ministry of Economy Trade in 2017 and received the Global Financial Technology Award by the Association of Banks in Singapore in 2018.

The Japan Credit Bureau was launched in 1961 and changed its name to JCB in 1978. The company revealed Japan's first credit card that was compatible with ISO standard, notes the announcement.

Keychain is developing an innovative data security framework targeting the industrial, financial, and enterprise spaces.

It's central offering, Keychain Core, is a solution accelerator that enables its partners to create applications with self-sovereign identity, secure workflows, settlements, data-centric security, contracts, and custom digital assets.

Keychain Core works with the Internet of Things (IoT) devices as well as tablets, computers, wearables, and smartphones.

JCB revealed that it would use the Keychain platform to build out cybersecurity features and operational integrity in next-gen payments systems, notes the announcement.

In September, Keychain announced a Bitcoin-based data-security and identity framework for faster enterprise blockchain adoption.

JCB recently revealed a partnership with the blockchain-enabled commercial payments platform Paystand. The collaboration will offer the first end to end digital payments platform for JCB customers and Japanese enterprises.

The proposed solution takes on a significant gap in Japan's current B2B payments market and offers the corporate subset of JCB 130 million customers with an alternative to legacy payment methods such as cash and credit card.

PC: Pablo, Pixabay

Note: We at TechSutram take our ethics very seriously. More information about it can be found here.
Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

No comments:

Post a Comment

    Your valuable comments are welcome. (Moderated)