Fujitsu to Release Reward Points Tokenization System

The Fujitsu blockchain system tokenizes digital points and coupons, processing it and storing data on customer transactions in a decentralized database
06 June 2018   401

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".

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.