Challenge
- Decrease in the use of physical cash and coins
- Current method in the distribution of welfare payments is costly and delayed
Solution
- Each regional currency is backed 1:1 with JPY but local governments are subsidizing the regional currency and providing a premium (20%) to grow adoption and usage
- Each regional currency can only be used within that local region
- Enables real-time B2B, B2C and C2C transfers
- Enables immediate distribution of welfare payments
Results
- Reduced use of physical cash and coins
- 30 regional digital currencies across 30 municipalities
- Allows users to transact simply with QR codes
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