Keychain and Chubu Electric Power conduct verification testing on peer-to-peer trading that uses blockchain technology

On July 1, Keychain, a limited liability company which develops and provides Keychain Data Provenance Infrastructure (DPI) blockchain-based data security technology, announced that it had conducted verification testing on personal authentication that uses blockchain technology, issuance of digital assets, and peer-to-peer trading using distributed ledger technology at the Technical Development Department (Midori-ku, Nagoya City) of Chubu Electric Power < securities code: 9502>.

 

The verification testing was designed for three-way trading among a digital asset issuer, users (about 30 users this time), and merchants. According to the announcement, Keychain performed the implementation process between late November 2018 and mid-April 2019, while about 30 employees of the Technical Development Department, Chubu Electric Power carried out verification testing between late April and early May 2019.

 

The three targets of verification testing were: (1) Verifying the effectiveness of Keychain blockchain as a personal authentication infrastructure; (2) Issuing of digital assets by Chubu Electric Power and verifying double transfer and falsification risks; and, (3) Verifying application of an Android app that can use distributed ledger technology for payments at a cafeteria, peer-to-peer payments, and other transactions.

 

The company reported that verification testing verified blockchain technology functions as a personal authentication infrastructure; digital assets can be issued using distributed ledger technology; and, peer-to-peer trading can be conducted without causing double transfers or falsification.

 

*This article was written by Fisco