FPT Software’s enterprise blockchain platform akaChain has joined hands with Tokyo-based sports merchandising company Canow to develop and launch YELLtum – a blockchain-backed customer loyalty platform. YELLtum can radically improve Canow’s customer experience and expects to host a large community of approximately 300,000 customers and 3,000 member stores by Q4 2022.
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YELLtum expects to host a large community of sports teams, fans and merchants (Photo: Unsplash)
FPT Software’s akaChain is an end-to-end, permission, multi-chained network that has assisted in transforming enterprises across various sectors, including retail, banking and finance, insurance, and so on. By developing YeLLtum, akaChain has demonstrated practical applications of blockchain technology that move beyond cryptocurrencies, bringing transparency, scalability, and innovation to businesses.
YELLtum has an intuitive design and the core that served as a blockchain-backed token management engine. The platform offers Canow’s customers a secure and convenient way to top up fiat currency and convert it to YELL coins, which can be used for purchasing such items as sports team’s merchandise, tickets, or coupons. The data structure of blockchain, offering incorruptible on-chain data and transparency, allows sports fans to preserve their personal information and digital assets on their token wallets.
“The core of YELLtum is a private token management service on blockchain,” said Long Nguyen, Head of Blockchain R&D, akaChain. “It can free users from information security concerns and allow them to fully enjoy their shopping experience, as well as enable enterprises to serve their customers better. From a technical point of view, it is a solid use case that fully demonstrates advantages that blockchain technology brings to modern businesses instead of the cryptocurrency scheme that we normally see.”
With akaChain’s scalability, YELLtum expects to promote its “Well-being” philosophy, which focuses on personal information security and the benefits it brings to a prosperous life, to a wider range of users. The platform expects to host a colossal community of 50 sports teams, 300,000 customers, and 3,000 merchants by Q4 2022.
“I am pleased to announce this business alliance with FPT Software,” said Ryohei Osaka, COO, Canow. “The use of data is a particularly important feature of ‘YELLtum’ project. By introducing FPT Software’s high technology to YELL Databank, which has a proven track record of providing services to the world’s leading IT companies and is certified by the Vietnamese government, users will be able to transfer fan tokens and companies will be able to operate their data on YELL Databank with a high level of security and convenience.”
As stated in its mission “Create a borderless business market through decentralized information distribution”, Canow operates in a wide range of businesses. Canow supports companies to develop innovative businesses through investment from its funds. The incubation business “Hachi” connects investors and businesses from global to Japan, and from Japan to global, and provides hands-on business support and financing for all businesses, including the use of tokens and blockchain. As a pioneer in adopting blockchain technology, Canow will develop Digital Identity (DID) to manage public certificates online and multiple new services from the viewpoint of marketing such as utilization oftokens for existing businesses, Data Bank models, and data analysis. For more information, please visit https://canow-jp.com/.
About FPT Software
FPT Software is a global technology and IT services provider headquartered in Vietnam, with more than USD 513 million in revenue and 20,000 employees in 26 countries. As a pioneer in digital transformation, the company delivers world-class services in Smart factory, Digital platforms, RPA, AI, IoT, Cloud, AR/VR, BPO, and more. It has served 700+ customers worldwide, a hundred of which are Fortune Global 500 companies in the industries of Automotive, Banking and Finance, Logistics & Transportation, Utilities, and more. For more information, please visit www.fpt-software.com.