Japanese IT Giant Fujitsu Launches Blockchain-Based Rewards System for Retail

Published at: June 6, 2018

Japanese IT giant Fujitsu has launched a blockchain-based reward points system aimed at innovating retail, according to a press release published today, June 6th.

The blockchain-based data storage system tokenizes traditional retail promotional strategies such as coupons and loyalty points, which the company claims will revitalize local economies by increasing consumers’ “willingness to buy,” as well as improving data analysis methods in retail industries. As Fujitsu outlines:

“With this service, users can collect digital points or stamps by reading QR codes located in specific areas with smart devices, and then exchange them for coupons and other benefits that can be used in stores... In addition, collection and usage data for the points, stamps, and coupons, which are recorded on the blockchain distributed ledger, can be linked with user information for analysis.”

Fujitsu envisages that the new system, dubbed the ‘Fujitsu Intelligent Society Solution Blockchain Asset Service,’ will help to attract users to specific promotional events and influence consumer patterns, especially when integrated into specific smart device applications.

The system is available to customers in the form of an API, meaning customers don’t necessarily need any knowledge of a new ICT environment specific to blockchain.

In March of this year, the company tested its new tokenized rewards system at a branch of Taiwan's FamilyMart convenience stores. The field trial aimed to attract more customers using a tech strategy that included communication robots together with blockchain.

Fujitsu has long been part of the race to develop commercialized blockchain platforms, working on an earlier enterprise-focused blockchain platform back in August 2017, and partnering with IOTA on a data monetization solution last November.

That same month, Fujitsu also launched an interoperable payments platform, which used smart contract technology to interconnect multiple blockchains for better transaction automation. In March, Fujitsu opened an international Blockchain Innovation Center in Belgium.

Tags
Blockchain
Japan
Fujitsu
Related Posts
Japanese payments firm JCB and Mizuho Bank test blockchain-based ID
Major financial institutions in Japan are moving into blockchain to streamline digital identity systems. Japan’s third-largest bank, Mizuho Bank, and local payment giant JCB are preparing to pilot a digital identity interoperability system based on blockchain technology. The new system will utilize a blockchain solution developed by Fujitsu Laboratories, Fujitsu announced on Thursday. The new joint initiative will allow the companies to verify mechanisms to securely transfer and link member ID information by multiple business operators. This data includes names, addresses and employers stored on a cloud platform built by Fujitsu. The pilot will also involve 100 Fujitsu Group employees. …
Technology / Oct. 19, 2020
Fujitsu Unveils Blockchain-Based Identity and Credential Rating Service
Japanese tech research firm Fujitsu Laboratories has developed a blockchain-based solution for evaluating user credentials, identity and trustworthiness in online transactions, according to an announcement by Fujitsu on July 4. As reported, the solution considers user ratings, stored on a blockchain, to assign every user a “trustworthiness score.” Users reportedly rate each other when a transaction occurs and the technology evaluates this data to make a guess about users’ relationships with one another. Other users can then see how high someone else’s trust score is before agreeing to a transaction, according to the announcement. Fujitsu claims that this solution has …
Decentralization / July 4, 2019
Confirmed: Sony and Fujitsu to Trial Blockchain for Educational Record Integrity
The education units of Japanese multinational conglomerate Sony and IT equipment services firm Fujitsu are to trial blockchain technology for improving the integrity of course records and grade data. The news was officially reported in a press release from Fujitsu today, Feb. 27. The pilot comes via a joint venture between Sony Global Education, Inc., Fujitsu Limited, Fujitsu Research Institute and Human Academy Co., Ltd. — the latter being a language school for foreign students in Japan. Prospective foreign students participating in the blockchain trial will complete a course, “Nihongo Dojo,” which prepares them to pass the Nihongo Kentei, a …
Blockchain / Feb. 27, 2019
Sony and Fujitsu Develop Blockchain Platform to Fight Fake Educational Qualifications: Report
Japanese multinational conglomerate Sony and IT equipment services firm Fujitsu have created an encrypted database for educational proficiency documents, The Asahi Shimbun reports on Feb. 26. The database, which reportedly employs blockchain technology, is used to prevent forgeries of language proficiency documents, which some foreigners purportedly use to receive resident status to study in Japan. Foreigners must submit a Japanese language proficiency certificate to the Immigration Bureau in order to receive resident status to study in Japan. Said certificates can be issued by Japanese educational institutions abroad. Japanese language schools within the country will submit the certificates on behalf of …
Adoption / Feb. 27, 2019
Japanese IT Giant Fujitsu Completes Test of Blockchain Electricity Sharing Project
Japanese IT firm Fujitsu has successfully trialed a blockchain-based solution to address inefficiencies in electricity surplus management, the company confirmed in a press release on Jan. 29. Fujitsu, which partnered with local power distribution company ENERES, used blockchain to increase the success rates of power sharing, which is administered through a process known as Demand Response (DR). An agreement between utilities companies and consumers, DR aims to anticipate periods of peak demand by ensuring surplus power is available to those who need it. The current technology involved makes DR an inefficient mechanism, Fujitsu says, something which blockchain has demonstrably helped …
Blockchain / Jan. 30, 2019