“Today Toyota Systems, a wholly-owned IT subsidiary of Toyota Motors, said it is experimenting with blockchain and a white-labeled digital currency solution from Decurret. Initially, the experiments involve automating payments with the branded digital currency to its 2,500 staff. The payments are for welfare benefits, which employees can then exchange for welfare points or gifts from a catalog created explicitly for the digital currency trial. The company was keen to emphasize the currency cannot be exchanged for Yen.
The aim is to test the scalability and business challenges for payments to a significant number of people. But the end game is not to use it for welfare payments. It’s part of a longer-term vision of how mobility might evolve.”