Japan’s largest present card trade plans to make use of blockchain to spur its subsequent section of development.
Amaten, a secondary market for present playing cards, introduced a partnership with the Singapore-based cloud computing startup Aelf, in accordance with a assertion printed August 20. The trade plans to scale its operations internationally utilizing Aelf’s enterprise-oriented blockchain platform.
Based in 2012, Amaten has grown to seize 40 % of Japan’s present card trade quantity and takes in roughly $110 million in income yearly. On a world scale, the present card business has ballooned right into a $340 billion market.
By changing present playing cards to digital belongings managed by Aelf’s platform, the agency seems to be to “revolutionize the way in which present playing cards are issued, bought and exchanged.”
“The present system and expertise used for present card[s] is totally out of date and dates all the way in which again to the mid 90s,” mentioned Amaten chairman Tom Kanazawa. “It nonetheless suffers from primary elementary shortcomings and could be very inconvenient. I consider that the present card business generally is a good use case for blockchain.”
Aelf’s blockchain will present an immutable file of a present card’s issuance and any exchanges of possession, thereby growing the transparency of Amaten’s platform.
“We’ve got chosen to associate with… Aelf, as a result of they provide the scalability, devoted sidechains and good contract modules that we very a lot have to construct our service quickly and most cheaply,” mentioned Kanazawa.
The agency additionally means that blockchain could cut back the quantity of present playing cards that go unspent.
“By the partnership with Amaten, we hope to pioneer the adoption of blockchain options inside the conventional industries,” says Aelf’s Co-Founder and COO, Zhuling Chen.
The Asian Crypto Panorama panel at Token Summit III in NYC. Left to proper: Nick Tomaino (1Protocol), Vansa Chatikavanij (OmiseGo), Gordon Chen (FBG), Jason Fang (Sora Ventures) and Zhuling Chen (Aelf)