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Saturday, December 9, 2023

Bank of Tokyo Leasing and CryptoPie Launch Demonstration Experiment of Blockchain-based Electronic Contracts

Mitsubishi UFJ Financial Group's equity-method affiliate, BTMU Leasing, has started a demonstration experiment to provide a service using CryptoPie's patent-pending technology* related to IoT seals on a blockchain-based electronic contract service that the company is currently developing. The IoT seals will be manufactured by Matsushima Seikodo, a long-established seal store that has been in business for 98 years, and the two companies will participate in the verification test with the aim of integrating the hanko culture and digital technology.

*Technology that records and shares the fact that the seal itself is stamped, along with information such as location, number of times, time stamps, etc., on the blockchain.

Background and Objectives

In addition to the finance services that have been used to address the issues faced by its customers, from the perspective of promoting digital transformation (DX) in society, the company is now developing new services on its proprietary blockchain platform to provide more diversified and direct solutions to the issues faced by various industries. In addition, the company has begun developing new services on its proprietary blockchain platform to provide more diversified and direct solutions to the challenges of various industries.

As a first step, the company has begun demonstration tests of an electronic data authentication infrastructure (patent pending) that utilizes the decentralized nature of the blockchain and an electronic contract service that applies it, instead of relying on the conventional third-party authentication method of digital certificates/PKI.

CryptoPie promotes social implementation of blockchain in the non-financial sector and has assisted in auditing over 400 projects, building business models, PoCs and development, and much more.

Currently, the number of companies considering the introduction of electronic contracts is rapidly increasing as a result of the promotion of remote work and business efficiency in response to the global spread of the new coronavirus. On the other hand, there are many cases in which companies are forced to continue to use stamped contracts at the request of their business partners, and this is often a disincentive for many companies to introduce electronic contracts.

The two companies aim to realize an electronic contract service that "seamlessly links paper and electronic contracts and enables centralized management" by linking the blockchain-based electronic contract service being developed by BTM Leasing and CryptoPie's patented technology for IoT seals. This will enable the realization of an electronic contract service that "seamlessly links paper and electronic contracts and allows for their centralized management. This will make it possible to use both paper and electronic contracts according to the type of client and business, greatly reducing the hurdles to the introduction of electronic contracts and further accelerating the recent trend toward digitization.

Through this service, BTM Leasing and CryptoPie will support the digital transformation movement of companies and work toward the realization of a sustainable society, he said.

name of companytogin leasing co.
EstablishmentOctober 6, 1979
capital stock11-12F Tokyo Nihonbashi Tower, 2-7-1 Nihonbashi, Chuo-ku, Tokyo
representativePresident and Representative Director Masaharu Nakano
Business OverviewLeasing, installment sales, lending, and outsourced administrative services for various properties, etc.
uniform resouce locatorhttps://www.botlease.co.jp/
name of companyCryptoPie Inc.
EstablishmentDecember 28, 2011
Location3F Sanki Building, 2-12-12 Shibuya, Shibuya-ku, Tokyo
representativeRepresentative Director and President: Kyoichiro Yoshihara
Business OverviewWeb marketing, anti-defamation, blockchain consulting
uniform resouce locatorhttps://blockchain-biz-consulting.com/
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