Join Telegram channel and get updated

Japan’s largest e-commerce company Rakuten, with a market capitalization of over $12.5 bln, is planning to launch its own cryptocurrency called Rakuten Coin based on blockchain technology and the existing Rakuten Super Points loyalty program.

 

The announcement was made by Rakuten CEO and founder Hiroshi Mikitani during his speech at Mobile World Congress in Barcelona on Feb. 27. Mikitani described the newly announced asset as ‎a “borderless currency,” underlining Rakuten’s vision of differentiating itself from its online retail rivals, like Amazon, Alibaba or eBay and “recreating” the relationship between retailers and merchants.

 

Rakuten Super Points loyalty system was launched 15 years ago and has seen significant success since then, resulting in a total issuance of over 1 trillion Super Points to Rakuten’s customers, roughly equal to $9.1 bln. The points are obtained every time a customer makes a purchase on the marketplace and can be used to discount future purchases or buy certain products or services on the shopping platform.

 

The company intends to implement the Blockchain-based loyalty program to attract and engage customers, and use the growing interest in cryptocurrencies to recruit new loyalty members on a global scale.

Join Telegram channel and get updated

 

The latest announcement comes almost two years after the Japanese Rakuten acquired the intellectual property assets of Bitcoin payment processor, BitNet, and opened the Rakuten Blockchain Lab to explore applications for Blockchain in e-commerce and fintech.

 

Though the crypto market is still relatively new and lacks many of the traditional institutions of a civilized market, there are projects on the market that seek to indemnify or mitigate the associated risks that investors take when deciding to invest in projects. Cryptics is one such project that seeks to offer the necessary instruments for alleviating the situation with uncertainty. The concept behind it is to support market participants by providing liquidity on exchanges and a safety cushion for retail investors by creating a platform that connects market players and develops algorithms to predict changes in the value of cryptocurrencies. Such instruments based on highly advanced scoring models involving machine learning and AI are incomparable with human intuition that even the luckiest and most prudent investors could ever be endowed with. The multitude of factors involved in predicting a cryptocurrency’s rise or fall are all taken into account by the algorithms that Cryptics employs. Investors should consult such projects as the expense is well worth the ensured profit and peace of mind.

Subscribe to our Newsletter