GMO Blockchain Open Source Software project enters fourth phase

Maria Nikolova

GMO Internet partners with GMO-Z.com RUNSYSTEM JSC to demonstrate the practical security applications of blockchain technologies.

There have been many announcements around the push of GMO Internet Inc. (TYO:9449) in the area of crypto currencies and related technologies lately. And today we got another one, as the company said its Blockchain Open Source Software project entered its fourth phase.

This time, GMO Internet has teamed up with GMO-Z.com RUNSYSTEM JSC to demonstrate the security applications of blockchain technologies. As many of you are aware, the enhanced security is one of the main advantages of this type of technologies.

One area in which this collaboration works is deterring illegal resale of tickets and the rollout of paperless tickets that are protected via the new technology. In a ticket sales system using this program, entrance permission is assigned to the address on the blockchain given by the ticket purchaser (event visitor), and the entrance permission is confirmed by the only key generated within the device such as smartphone owned by the purchaser. Thus a mechanism to prove entrance permission is achieved. GMO believes that any use of tickets acquired by means alternative to the the authorized sales is prevented. This also serves as a way to prevent illegal resale.

In the end of August, GMO Internet announced the launch of the third phase of GMO Blockchain Open Source Software Project, introducing its new Region Token. The open source Region Token is a program whereby municipalities and companies can issue their own tokens (points). Thanks to the storing processing rules of tokens in a blockchain without having to build a dedicated server for managing tokens and employing an administrator, it is possible to issue tokens and register shops as point service participants on the blockchain. The use of such a token is seen as a means for regional revitalization.

GMO Internet keeps working on new blockchain based technologies. In December 2016, the company started offering beta versions of Z.com Cloud Blockchain and ConoHa blockchain services. In July 2017, GMO Internet launched GMO Blockchain OSS, an open-source project enabling real service deployments.

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