Tag Archives: Rakuten

Rakuten Taps Chinese Blockchain Firm for $60 Billion Authenticity Market

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In 2008, at least 54,000 Chinese babies suffered after ingesting formula that had been contaminated. Demand for safe products has grown year over year, every year, since then. Companies like blockchain-centric Techrock have capitalized on this market by finding unique solutions to the authenticity problem. Techrock uses the blockchain to track every step of a product’s lifecycle and rewards consumers for verifying it through their mobile phones. Continue reading Rakuten Taps Chinese Blockchain Firm for $60 Billion Authenticity Market

E-Commerce Giant Rakuten to Launch Cryptocurrency Rewards Program

Leading Japanese e-commerce platform Rakuten will transition its rewards program to a blockchain-based system featuring a company-developed cryptocurrency. Rakuten CEO Hiroshi “Mickey” Mikitani made this announcement at the Mobile World Congress in Barcelona, according to a TechCrunch report, explaining that the token would be called Rakuten Coin. Rakuten Coin will replace the Tokyo-based company’s current “Super Points” program, which has long been regarded as one of the most robust loyalty programs in the e-commerce ecosystem, and its customers have collectively earned approximately $9.1 billion in points over the program’s 15-year history. Mikitani did not announce a release date for Rakuten Coin, but he previewed that it will be integrated into all of the firm’s many subsidiaries, which include Ebates, PriceMinister, and Viber. At present, it is unclear whether Rakuten Coin will run on its own, company-controlled blockchain or whether it will be built atop another blockchain — such as Ethereum, Stellar, NEM, or NEO — using smart contracts.

Reference: https://www.ccn.com/e-commerce-giant-rakuten-launch-cryptocurrency-rewards-program/