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Collab with Idemia and Soft Space by CoinEdition, JCB Launches JCBDC Project

JCB Launches JCBDC Project Collab With Idemia & Soft Space
  • In collaboration with Idemia, Soft Space, JCB launches the JCBDC pilot program.
  • Idemia’s Managing Director believes CBDC will revolutionize payment systems.
  • Senior executive officer from JCB highlights benefits of the project.

Japan Credit Bureau Co., Ltd., (JCB), launched JCBDC pilot project (JCB Digital Currency), in collaboration with Idemia, Soft Space Sdn. Bhd. JCB, Japan’s only international payment brand, along with Idemia, identity technologies, and Soft Space, a fintech company, will spearhead the pilot project.

CoinMarketCap is a price-tracking website that tracks crypto assets. This announcement was made on Twitter by CoinMarketCap.

According to the Idemia press release, the trio will create a central bank digital currencies (CBDC), and test the pilot project with Tokyo Merchants.

Idemia believes merchants would be reluctant about adopting CBDC immediately, but the Managing Director at Idemia believes CBDC is changing the fundamentals of the payment system.

Romain Zanolo, managing director of Idemia, believes that CBDC can radically transform payment system.

Zanolo remarked:

We’re proud that our ability to innovate has enabled CBDC payments with existing card and POS terminal hardware. Idemia, JCB’s, and Soft Space’s joint payment system expertise will usher in worldwide CBDC growth

JCB will test CBDC’s acceptance using existing hardware. In particular, the existing hardware includes JCB’s EMV-based contactless payment, merchants, POS terminals, and plastic card-based user interfaces.

Koremitsu, a Board Member, and senior executive officer of JCB stated that merchants as well as consumers will benefit from using the existing payment acceptance. He stated that:

It is an honor to announce our collaboration on this project with Soft Space and Idemia. This project shows that existing payment acceptance hardware can be used for new CBDC payments systems. This is a great benefit for both merchants and consumers.

Soft Space CEO Joel Tay stated that the project was still in its infancy, but that they would be able to take it from theory into reality with their expertise in existing platforms and in-store payments.

The post JCB Launches JCBDC Project In Collab With Idemia And Soft Space appeared first at Coin Edition

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