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November 14, 2017
4 min read
Mitsui Knowledge Industry has the exclusive right to promote Billon’s proprietary distributed ledger technology, registered by the FCA, in Japan and other Asian markets.
(London/Warsaw, November 14, 2017) Billon Group Limited (Billon) and Mitsui Knowledge Industry Co. Ltd. (MKI) signed an agreement to collaborate in introducing Billon’s distributed ledger technology (DLT) to Asian markets, including Japan. This is the first collaboration between Billon and a Japanese company. MKI has the exclusive right to market and verify the business potential of Billon’s solutions in Japan, Indonesia, Vietnam and other Asian countries until the end of March 2018.
In recent years various countries have discussed the concept of moving regulated currencies into a digital format. The digitization of national currencies can not only enhance the efficiency of economic transactions, but also brings various benefits, such as financial inclusion and a lower risk of theft or money loss. New solutions answering those issues are created day by day.
Billon is a fintech startup company that developed a distributed ledger technology (DLT) based on a proprietary blockchain to digitize regulated currencies and enable P2P money transfers with instant settlement. In the UK Billon took part in the FCA regulatory sandbox programme and received an e-money registration to encrypt British pounds on blockchain.
Billon is the first company in the world to successfully deliver digital payouts using regulated currency. The company’s unique solution, combining low cost with high speed processing, can be used, among others, for mass payments. In Poland Philip Morris works with Billon to pay out rewards in its incentive programme. Rewards were previously delivered in the form of pre-paid cards and physical vouchers, so Billon’s digital solution reduced the costs significantly. Incentives received on smartphones can be used not only for shopping and remittance, but can be also cashed out from ATMs as physical money. Payout recipients appreciated the high level of safety and convenience of using an everyday currency.
Virtual currency and electronic money have penetrated daily lives in Japan, but Billon’s concept and technology go even further. MKI will use the knowledge and the network of contacts accumulated during their 40 years of experience in the financial industry to utilize this advanced technology in Japan and Asia, trying out different legal systems and business environments.
Mitsui Knowledge Industry Co. Ltd. (MKI) was founded in 1991 and has since undergone numerous mergers to enable it to provide a wide range of ICT (Information and Communication Technology) services, not only centering on system and network construction but also extending to consulting, data center services and cloud services.
As an “ICT Service Creator”, MKI will create and develop unique new technologies and services. We aim to be a business group which keeps trying to meet market and customer needs, create new business fields by leveraging technical capabilities and deliver value for customers.
Learn more at www.mki.co.jp
Billon disrupts technological fundaments behind money and the way it is stored and moved between people and organizations. The company has created a revolutionary instant payments system tapping on advanced cryptography and distributed ledger technology.
We are the 1st FinTech company to solve problems of cumbersome and expensive trillion dollar alternative payments market, levering the proprietary distributed ledger technology to eliminate the need for vouchers, pre-paid cards, and other semi-cash payment methods. Billon builds pioneering white label products and customised solutions for companies that wish to reinvent corporate incentive payments and build digital engagement. The company also offers ready to use merchant services and content monetization tools.
For more information, please visit www.billongroup.com