(ASIA)

AEON Financial Service is the latest firm to announce it is investing in blockchain technologies. The Japanese headquartered company will harness it to develop new and ‘enhanced’ products for its Asian-based customers.

It is partnering with IBM Japan to create a new blockchain platform that will enable users – individuals and businesses – to access additional services, including the ability to make virtual currency payments.

“Based on settlements and transactions, AEON Financial Service is working to build a platform that will offer various financial services such as virtual currency payments and loyalty points exchange and redemption not only to customers in Japan but also throughout Asia,” explained Masaaki Mangetsu, Managing Director, Global Business Strategy, Aeon Financial Service. “We foresee great opportunities in using blockchain to build this platform, and will aim to use it to improve our current financial services offerings, as well as offering new services to underserved customers in Asian countries.”

Labelled the “gatekeeper in the emerging trust economy blockchain is having an increasing impact across a range of sectors.

IBM Japan’s Yoshiki Minowa added: “As an innovative technology, blockchain has the potential to revolutionize ways businesses work together with their ecosystem partners. The technology establishes accountability and transparency while streamlining business processes. We are delighted to work with AEON Financial Service to build up a new blockchain-based platform for innovations.”