Japanese blockchain company Soramitsu announced it would begin testing a new local digital currency for retailers at the University of Aizu.
According to a June 29 report in the Nikkei newspaper, Soramitsu will begin testing & # 39; White Tiger & # 39;, a digital currency that sits on the company's own Hyperledger Iroha blockchain. The digital asset will be tested from July 1 in cafeterias and shops at the University of Aizu in Fukushima Prefecture, 300 km north of Tokyo, before gradually being used in off-campus locations.
The introduction of White Tiger is part of a smart city campaign by government officials and private entities in the city of Aizu-Wakamatsu. Participating stores can receive digital payments from the area's approximately 120,000 residents via smartphone apps or payment cards.
Based in Tokyo, Soramitsu is one of the blockchain startups behind the development of a central bank digital currency in Cambodia.