A new joint research project from four Japanese organizations has formed a collaborative to promote regional development of smart local currencies and blockchain technology.
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The University of Tokyo, The University of Aizu, Center for Global Communications (GLOCOM), and Soramitsu Co. have partnered to study “smart currency” effects on regional development.
The working groups will experiment with distributed ledger technology. The project will focus on the area around Aizu, in Fukushima Prefecture, Japan. Researchers believe innovations in smart programmable money can bring local currencies to life. The press release explains:
The current research is studying the possibilities of using blockchain technology to create smart local currencies, with an emphasis on economic research to determine the contribution of local, digital currencies to regional economies.— Development of a platform for creating local currencies has already begun and in the Fall of 2016, Aizu will host various tests using local currencies.
Throughout the Fall of 2016 at The University of Tokyo and its Interfaculty Initiative in Information Studies, Professor Hideyuki Tanaka will research the effects of network economics