Renowned Japanese blockchain firm Soramitsu recently revealed its plans to start testing a new native digital currency for retailers at the University of Aizu.
In line with a recent report published by Nikkei, Soramitsu will begin testing “White Tiger,” a new digital currency based on the company’s native Hyperledger Iroha blockchain. The digital asset is going to be tested at cafeterias and shops at the University of Aizu in Fukushima Prefecture, 300 km north of Tokyo, starting from 1st July before gradually being utilised at locations off campus.
The introduction of White Tiger is a section of a smart city campaign by public officials and personal entities within the City of Aizu-Wakamatsu. Participating stores are going to be able to receive digital payments from the area’s roughly 120k residents via mobile phone applications or charge cards.
Soramitsu, based in Tokyo, is one among the blockchain startups behind the development of a central bank digital currency in Cambodia.