Japanese IT giant Fujitsu launched a blockchain system which gives retailers the ability to tokenize traditional promotional tools, such as coupons and reward points. This is reported by Coindesk.
The system launched in Japan can be used by shops in malls and tourist areas for promotional activities related to coupons and points. For example, when consumers receive points and coupons in one shop and can then spend them at another store.
The Fujitsu blockchain system tokenizes digital points and coupons, processing it and storing data on customer transactions in a decentralized database. According to the company, this reduces the load on traditional data centers and allows to analyze data better.
The ultimate goal of the project, according to Fujitsu, is the revitalization of regional economies - in other words, this project can be expanded to regional communities where tokenized points can circulate in facilities related to shops, restaurants, schools, transportation and tourism.
Before releasing the final version of the product, Fujitsu tested the system with various organizations, including railway and telecommunications companies, as well as convenience stores. In particular, in March the company tested its new technology in one of the branches of the Taiwanese trading network FamilyMart - the project used a distributed ledger platform for the transfer and storage of digital "stamps".