Amaten, the largest gift card exchange platform in Japan, has announced its plans to expand its current operation using blockchain. Amaten To Use Blockchain
It is seeking to revolutionize the manner in which they issue gift cards and how people exchange with the implementation of blockchain. The forms of gift cards currently used are either physical cards or digital codes via email. Both of which are troublesome to issue and redeem, the company said.
“The current system and technology used for gift card[s] is completely obsolete and dates all the way back to the mid-90s,” said the chairman Tom Kanazawa.
“We have chosen to partner with… Aelf, because they offer the scalability, dedicated sidechains and smart contract modules that we very much need to build our service rapidly and most cost-effectively,” said Kanazawa.
While physical cards are difficult to make, distribute, and monitor, there is a lack of verification and safety for digital codes against malicious attacks.
Amaten To Use Blockchain. With blockchain adoption, it introduces the initial issuer transparency and traceability, and any exchanges between end customers.
Aelf worked closely with Amaten to assist in combining blockchain technology with the existing infrastructure.
Aelf’s Co-Founder and COO, Zhuling Chen, said:
“Aelf is razor-focused on providing creative and revolutionary solutions that can only achieve through blockchain. Through the partnership, we are hoping to pioneer the adoption of blockchain solutions within the traditional industries.”
Amaten To Use Blockchain. Founded in 2012 as the first gift card exchange in Tokyo Japan. Last year it processed almost 1 million transactions with 132 000 active users. Now, Amaten lists 26 top gift cards including Amazon and iTunes and is Japan’s largest marketplace for them.