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【Nikkei Asia】Blockchain unlocks instant exporter pay in Tokio Marine system
Tokio Marine & Nichido Fire Insurance Co. plans to launch a payment system that will use blockchain technology and digital currency to reduce waiting times and transaction fees.
The system will use blockchain technology to generate an electronic invoice. This will show the details of the shipment and act as a contract between the two parties.
With this new blockchain-based system, invoices and payments can be delivered instantly in digital currency.
Because Bitcoin is too volatile, Tokio Marine will use a stablecoin pegged to the dollar.
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