Hitachi and KDDI test blockchain system for fingerprint retail payments
A blockchain system for validating payments through fingerprint technology is being trialled by Hitachi and KDDI.
The technology and telecommunications giants are collaborating on coupon settlement system in a KDDI store in Tokyo's Shinjuku district, as well as a local donut shop.
Shoppers who register with the system input their coupon credits and biometric information, with these details then stored on a secure blockchain after being encoded into a string of encrypted data.
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The transaction is completed when the shopper verifies their identity via a fingerprint reading device, creating a safe and efficient payment method.
"Users can authenticate themselves by holding the finger on the authentication infrastructure, so it is not necessary to present a coupon at the store, and the coupon can be used even without a smartphone," Hitachi said in a release.
Blockchain technology is disrupting the retail industry at a rapid pace, mainly in the areas of e-commerce and supply chain. Last year, Hitachi revealed a partnership with Mizuho Financial Group to develop a blockchain platform for supply chain management.