Japan's drugstore industry is pushing innovation by introducing a digital currency into its payment and logistics systems. Blockchain outlet CoinPost reported on March 27 that the Japan Association of Chain Drug Stores (JACDS) has signed an agreement to introduce the digital currency DCJPY.
DCJPY is a tokenised deposit developed by the Japan Digital Currency Forum and has functions similar to a digital currency issued by a bank. It operates with lower fees than existing payment systems, and real-time payments and 24-hour transactions are possible, raising expectations of cost savings.
Under the agreement, JACDS plans to use DCJPY not only for its payment system but also for logistics and inventory management. It aims to cut payment fees and reduce operating costs by optimising its logistics system. It is also reviewing ways to manage logistics more efficiently using digital currency.
JACDS plans to formally join the Digital Currency Forum from June 2025 and step up the introduction of DCJPY. If the agreement progresses successfully, digital payment systems are likely to spread across Japan's drugstore industry.
Hyunwoo Choo
cookinpapa@d-today.co.kr