The Mitsubishi Positioning Institute (MRI) and the Osaka-based railroad company are spending local currency for central use as a tourist destination in Japan’s popular Mia district.
MRI tests established by MTSubishi Group companies in 1970 said on Wednesday that it would use a blockchain called Kintsu Shimakaz Moneta and would only be available from November 11 through January 31 of the following year.
This is the fourth division created by the two companies as they work to perfect the technology and develop relevant processes, procedures and services.
The experiment is a very limited test and will take place in the Jesse-Shim area, a peninsula known for its beaches, seafood, pearls and national gardens. Only 15 factories in the region will receive coins, including Spain’s Shima Village, Miyako Resort Shima Baside Balcony, Kashikoyima Espana Cruz and the Makunda Art Museum.
While the sign will only be temporary for pilots, Kinchu hopes he will eventually issue a permanent cryptocurrency to cross his train lines, according to the Nike News.
In order to use cryptocurrency, users must download the Japanese Kintetsu Shimakaze Coin program.
They can pay a lump of 1,000 yen, pay a 10 percent premium for a total of 100,000 yen. Coins can be distributed among participants. At the end of the trial period, the currency will resign and cannot be used.
The Kintetsu Group, a local MRI affiliate, is listed on the Tokyo Stock Exchange and stores transportation assets in the target area of the program including lines. MRI is responsible for the release and management of toxins.
For the past two years Keynes and MRI have been collaborating on local currencies. The first Kintetsu Harukas Coin social experiment was conducted in September and October 2017 to test the use of the payment system with blockchain technology.
The second Kintetsu Harukas Coin social experiment was conducted in October and December 2018 in Osaka to test QR code technology and personal transfers. Mitsubishi UFJ, Banking Group and Omron Company participated. In February 2019, two local currency companies tried around Osaka Omachi Station.