Daehong Communications, a subsidiary of South Korea’s Lotte Neighborhood, has presented plans to attain a blockchain-powered “Cash Spin” ecosystem the utilization of Aptos, a high-performance Layer 1 blockchain. The mission follows a partnership fashioned final year between Daehong Communications and Aptos Foundation.
The “Cash Spin” scheme is designed to music and test digital sources — equivalent to mobile vouchers, loyalty aspects, mileage, and stablecoins — as they’re created, transferred, and musty in real-world transactions. All transaction records will be recorded on the blockchain, guaranteeing transparency in ownership and management.
As phase of the initiative, Daehong has constructed-in Aptos’ blockchain technology with “Giftiel,” a mobile voucher provider operated by its subsidiary, Spoon. All one of many best ways via the sleek beginning allotment, Giftiel has already registered over 500,000 customers conserving vouchers on Aptos, with better than 1 million vouchers issued.
By provocative Giftiel’s voucher lifecycle — issuance, distribution, and redemption onto the blockchain, customers achieve fleshy transparency and traceability of their vouchers. Businesses, within the period in-between, can salvage admission to legitimate utilization records for better operational insights. The scheme may perhaps well later carry into assorted areas, including buyer rewards, commerce products and companies, and stablecoin applications.
Daehong Communications plans to deepen its technical and marketing and marketing collaboration with Aptos Labs to additional produce the Aptos ecosystem. Precise-time blockchain records from Giftiel can already be considered via an explorer tool supplied by Web3 choices firm Xangle, offering particulars on vouchers, transactions, and user statistics.
The mission represents a animated application of blockchain technology in day to day commerce, with doable for broader adoption in digital asset management.
Image: Freepik
