Lotte Group’s Daehong Communications to Develop Blockchain-Based ‘Money Movement’ Ecosystem with Aptos
Daehong Communications, a subsidiary of South Korea’s Lotte Group, has introduced plans to construct a blockchain-powered “Cash Motion” ecosystem utilizing Aptos, a high-performance Layer 1 blockchain. The mission follows a partnership shaped final 12 months between Daehong Communications and Aptos Basis.
The “Cash Motion” system is designed to trace and confirm digital belongings — similar to cell vouchers, loyalty factors, mileage, and stablecoins — as they’re created, transferred, and utilized in real-world transactions. All transaction information can be recorded on the blockchain, guaranteeing transparency in possession and administration.
As a part of the initiative, Daehong has built-in Aptos’ blockchain expertise with “Giftiel,” a cell voucher service operated by its subsidiary, Spoon. Through the delicate launch part, Giftiel has already registered over 500,000 customers holding vouchers on Aptos, with greater than 1 million vouchers issued.
By shifting Giftiel’s voucher lifecycle — issuance, distribution, and redemption onto the blockchain, customers achieve full transparency and traceability of their vouchers. Companies, in the meantime, can entry dependable utilization information for higher operational insights. The system might later broaden into different areas, together with buyer rewards, commerce companies, and stablecoin purposes.
Daehong Communications plans to deepen its technical and advertising and marketing collaboration with Aptos Labs to additional develop the Aptos ecosystem. Actual-time blockchain information from Giftiel can already be considered by means of an explorer software supplied by Web3 options firm Xangle, providing particulars on vouchers, transactions, and consumer statistics.
The mission represents a sensible utility of blockchain expertise in on a regular basis commerce, with potential for broader adoption in digital asset administration.
Picture: Freepik
