Orb Inc., a subsidiary of TrustBank Co., Ltd., has begun full-scale provision of “ShineCoin,” a digital in-house currency service that utilizes its distributed ledger technology, “Orb DLT.”
The digital in-house currency service “ShineCoin” is a “conditional payment instrument” that is granted to employees based on a system designed and operated by the company.
The introduction of Shine Coin will improve employee engagement and reward meaningful behavior, and support policies and systems that lead to improved corporate performance. For example, it will be used as an incentive for business improvement proposals, health promotion programs, and skill acquisition, contributing to the creation of a pleasant working environment.
The “internal currency” will also be effective in community and social contribution activities. By expanding the places where it can be used to local stores and services, rather than just giving it to employees, it will promote the revitalization of the local economy. Furthermore, in the future, we are considering the possibility of linking it with local currencies issued by local governments and playing a role as infrastructure that contributes to local revitalization. We believe that this vision will be a sustainable initiative for building an independent local community.
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As an example of a test implementation, AeroEdge Co., Ltd. has implemented and is operating “Edge Coin” as part of its internal digital transformation. By allowing employees to use thank-you points earned through other systems in the company cafeteria and for in-house sales, the company has been able to improve employee motivation and operations, thereby improving the work environment.
SOURCE: PRTimes
