Japan’s Largest Online Retailer To Launch Its Own Cryptocurrency Leading …

Japan’s largest online retailer to release its own cryptocurrency

Japan’s Leading E-Commerce Platform Rakuten Will Move Its System encouragement users to the blockchain and will release own cryptocurrency. This statement was made CEO Rakuten Hiroshi Mikitani in time performances at the Mobile World Congress in Barcelona.

Rakuten Coin Replaces Current Super Points Program, which considered one of the most sophisticated loyalty programs in e-commerce. Total over 15 years of the program’s existence clients Rakuten earned $ 9.1 billion, credited to their score accounts.

Mikitani did not specify when exactly the Rakuten Coin will be released, with this having previously announced that the cryptocurrency will be integrated into the existing services of the company, which include Ebates, PriceMinister and Viber. It is not yet clear will whether Rakuten Coin cryptocurrency on a stand-alone blockchain or the same will use one of existing blockchains, eg Ethereum, Stellar, NEM or NEO.

Japan's Largest Online Retailer To Launch Its Own Cryptocurrency Leading ...

Rakuten believes that creating a “limitless” currency will allow company avoid costs associated with translation and exchange funds, which, in turn, will allow to bring interaction between the company’s divisions to a new level.

“IN his based on our concept is to recreate networks retailers and merchants, ”Mikitani explained. “We don’t want they are were torn off from customers, on the contrary, acted as a catalyst. IN this is our philosophy: we strive to expand opportunities society, and not just provide convenience “.

Rakuten acquired cryptocurrency service for Bitnet payment processing in 2016 year. New product, suggests TechCrunch, will be be based on the results of the work carried out within the framework of Bitnet. Previously Rakuten used Bitnet to reception payments in bitcoins.