Symbol real world adoption already in progress in Japan

Yamato Co., Ltd. (Headquarters: Nishiwaga Town, Iwate Prefecture, Representative Director: Masaaki Takataka) is an accommodation voucher using the new generation blockchain “Symbol” as one of the efforts to explore sustainability in the tourism industry of After Corona. And payment of accommodation charges by Symbol’s cryptocurrency XYM (Jim).

Symbol blockchain

■ Background

While the period of self-restraint has been prolonged due to repeated declarations of emergency and rapid digitization is being promoted in various sectors of business, we have been working on after-sales services by strengthening video distribution and audio distribution to introduce tourism resources and EC business. We have been reviewing our business portfolio for the recovery period of Corona’s demand. However, in promoting digitalization of businesses and DX in various other social systems, there are many issues that are difficult to solve with the existing financial system and the framework of business customs alone. Blockchain technology is still in transition, but with widespread recognition as a new infrastructure in line with the digital society, we will build a cheaper ecosystem than before and cross-border micropayments for the ever-shrinking regional economy. I thought that it would be possible to present new sustainability through funding and micropayments, so I came up with this project.

■ Reasons for adopting Symbol

The blockchain called “Symbol” adopted by our company is a new generation blockchain that was just born in March 2021 by improving it based on the previous generation blockchain “NEM (NIS1)” that has been in operation since 2015. We decided to use it this time because of its abundant achievements in the NEM era, the activity of the development community, and the fact that Symbol itself is a high-performance blockchain developed with an emphasis on practicality. The REST API allows you to instantly integrate into your system, and depending on the application, you can use either a public chain or a customizable private chain, which improves convenience for companies adopting blockchain.

■ Outline of efforts

As the first campaign to commemorate the support for Symbol payment, from May 15, 2021 for one month, under the title of “You can buy accommodation vouchers in cryptocurrency! Campaign”, apply for accommodation vouchers that support Symbol payment from the dedicated form. You will be able to.

(1) Apply for the desired accommodation voucher from the dedicated form.

(2) We will notify you by e-mail of the XYM billing amount corresponding to the Japanese yen equivalent of the accommodation voucher you applied for.

(3) Send a paper accommodation voucher to the designated address. Read the QR code for payment printed on the back of the accommodation voucher with the “Symbol Wallet” app installed on your smartphone, and complete the payment by XYM remittance.

(4) As soon as we confirm that the payment transaction has been approved by our Symbol Wallet, we will activate the accommodation voucher in our system.

(5) At the time of actual stay, you can pay for local usage with XYM.

Application period: May 15, 2021 to June 15, 2021

Accommodation vouchers for sale: Pair accommodation vouchers (equivalent to 66,000 yen), single travel accommodation vouchers (equivalent to 49,500 yen)

Available days: Weekdays only (Pair accommodation vouchers can be used on Saturdays for an additional fee)

Validity period: Approximately 2,102,400 blocks (approximately 2 years) from the time of application for the accommodation voucher

[Exclusive application form]

■ Future prospects

It is expected that blockchain will become one of the effective business cooperation bases for the local economy, which resonates closely with each other, as the number of businesses that produce results and use them in the region increases. … Despite being a hot spring inn in a remote mountainous area of ​​Tohoku, we are trying to build a profit model with an eye on the future of the digital economy, thereby increasing the exchange population, creating employment opportunities, and living in a sustainable mountain village. I would like to show you what it is like. The following initiatives are planned as specific prospects for the use of blockchain.

・ Sales of “accommodation usage rights” as digital assets

・ Issuance of in-house currency as a welfare program

・ Support for diversifying employee income sources through NFT (Non-Fungible Token), etc.

・ Cross-border crowdfunding using cryptocurrencies

■ Comment from the person in charge

Cryptocurrencies have a short history and are considered to be “suspicious” by the world, but if you know the concept of blockchain that supports the technology inside, you can find many opportunities to use it even in our immediate surroundings. Notice. Many blockchain venture companies are appearing in metropolitan areas. However, in fact, I think that the more rural areas where the power of “human connection” is strong, the easier it is to create meaningful and unique initiatives using blockchain. In reality, the cost of spreading literacy is a barrier, but since there are few examples of social implementation of blockchain other than payment methods in the B to C domain, we hope that this initiative will be an example. I will. (Manager Yasushi Sasaki)

■ About Yamato Co., Ltd.

In May 2009, we opened the accommodation facility “Yamado-” in Nishiwaga Town, Iwate Prefecture. With the mission of “telling guests who visit the beauty, blessings, and warmth of the mountains,” we have provided a variety of services that go beyond the traditional accommodation industry. In 2017, he was selected as one of the “10 Best Japanese Inns” in the seasonal travel newspaper. In 2019, Jalan.net won the grand prize of “Good to stay inn grand prize (Tohoku, 50 rooms or less category) 2019”.

Trade name: Yamato Co., Ltd.

Representative: Masaaki Takataka, Representative Director

Location: 52 Chiwari, 52 Yugawa, Nishiwaga-cho, Waga-gun, Iwate Prefecture 029-5514 71-10

  Access https://yamado.co.jp/access/

URL: https://www.yamado.co.jp/ (Search by “Yamato”)

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