July 2020
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2020.07.07
Daido Life and DeCurret Started Digital Currency Issuance Testing
Daido Life and DeCurret Started Digital Currency Issuance Testing To Verify Applicability to Life Insurance Businesses Daido Life Insurance Company (President: Minoru Kudo; “Daido Life”) of TD Insurance Group and DeCurret Inc. (President: Kazuhiro Tokita; “DeCurret”) started a proof-of-concept experiment on a digital currency on July 7, 2020. The experiment involves issuing a digital currency under the brand of Daido Life on a platform that issues and manages digital currencies on blockchain, created by DeCurret, and building a virtual economic bloc accessible only by the test participants, which is the first attempt amongst the Japanese life insurance companies. The participants use a smartphone application to hold the digital currency, buy items, and join automatic savings plans using smart contracts*1, in the process of verifying the applicability of the digital currency and blockchain technology to life insurance businesses. The experiment is part of a collaborative project between Daido Life and DeCurret,
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