Japanese blockchain company Soramitsu announced it would start testing a new local digital currency for retailers at the University of Aizu.
According to a June 29 report in the Nikkei newspaper, Soramitsu will begin testing “White Tiger,” a digital currency sitting on the company’s native Hyperledger Iroha blockchain. The digital asset will be tested at cafeterias and shops at the University of Aizu in Fukushima Prefecture, 300 km north of Tokyo, starting on July 1 before gradually being utilized at locations off campus.
The introduction of White Tiger is part of a smart city campaign by public officials and private entities in the City of Aizu-Wakamatsu. Participating stores will be able to receive digital payments from the area’s roughly 120,000 residents through smartphone apps or charge cards.
Soramitsu, based in Tokyo, is one of the blockchain startups behind the development of a central bank digital currency in Cambodia.