Recently, the Ripple community in Japan launched a block chain gift card design based on Ripple and Xrpalike Gene. Blockchain technology is used to change the way of issuance, purchase and exchange of gift cards, and the traditional form of gift cards are integrated with blockchain assets to facilitate management, exchange and circulation. Ripple and Xrpalike Gene technology are designed for payment. The block confirmation speed can be completed within 6 seconds, and the concurrent volume can reach thousands of transactions per second, which far exceeds the traditional blockchain technology. The use of Ripple and Xrpalike Gene technology greatly increases the transparency, security and convenience of gift cards.
Tom Kanazawa, chairman of Amaten, Japan’s largest gift card company, said: “I believe that the gift card industry can be a perfect use case for blockchain. The two are a completely natural fit.” The current system and technology used for gift cards originated in the 1990s and has not been updated in real time. Compared with today’s digital world, it is completely outdated. The emergence of blockchain technology will make gifts card industry has directly entered a new stage of development.
People in the Japanese community said that by using this gift card, more people can learn about and contact Ripple and Xrpalike Gene. Using this gift card can help new users get new activated accounts and hold XRP and XAG. And can be used as a cold wallet to store and use, and easily give to friends.
The gift card industry is currently valued at US$340 billion globally and the Japanese market is valued at US$21 billion. In the United States, crypto wallets and exchange Coinbase have also entered the crypto gift card market, allowing customers in some countries to exchange tokens for gift cards. In the future, gift cards using blockchain technology are expected to get more users and usage scenarios, and this market is still accelerating.