TOKYO – April 25, 2018 – Today Tech Bureau, Corp., a fintech and cryptocurrency solutions company, announced that in March and April it participated in a Proof-of-Concept (POC) that made use of mijin blockchain technologies within a support application for side-business activities. What is more, in undertaking the aforementioned project, Tech Bureau recognizes its collaboration with the following entities: Nippon Information and Communication Corporation (President/CEO: Yujiro Hirose; hereinafter referred to as “NI+C”) and PERSOL CAREER CO., LTD. (President/CEO: Taro Mineo; hereinafter referred to as “PERSOL CAREER” and was previously known as “Intelligence Ltd.” ).
Much attention is now being paid to the blockchain in that it represents the technological basis of both crypto currencies and initial coin offerings. What is more, in that it offers “tamper-resistant,” “zero downtime” *1and “smart contract”*2 functionality, etc., the technology can be applied to a broad range of different services. On this occasion, as the three companies collaborated with one another, the focus of the POC itself was the technology. Specifically, with its involvement in systems integration, NI+C considered the issues so as to verify the possibility of services being realized, while Tech Bureau examined matters from the perspective of such services being developed based on the mijin blockchain technology itself. Meanwhile, the participation of PERSOL CAREER was based on its position of being a company that is involved in personnel services.
*1“Zero Downtime” refers to there being no interruption of the services, To achieve such goals, redundancy becomes a critical requirement at every level of system infrastructure.
*2“Smart Contracts” refers to a contract build on the blockchain that can’t be initiated and/or transactions can’t occur until all appointed cosigners agree to the contract.
POC Summary & Results
A support application for “side-business activities” was developed for the POC on this occasion in that expectation exists that such activities when undertaken by individuals represents a way in which to resolve the social issues of a declining workforce and insufficient innovation. From the corporate perspective, meanwhile, the systemization of side-business activities by companies will become a serious issue with respect to their management of labor affairs. Additionally, concerning the management of their own time, a significant burden shall be placed on the shoulders of company employees who choose to engage in side-business activities. Accordingly, on this occasion the POC collaborators utilized mijin blockchain technology to develop an application capable of managing work attendance data. They then took steps to confirm that the application could resolve the following issues.
*On this occasion, the POC testing made use of mijin, an versatile private blockchain technology developed by Tech Bureau.
|Issues Confronting Companies||POC Results|
|Original employers cannot establish the situation regarding an individual’s employment at other institutions, and thus it becomes very difficult to manage their working hours||The working hours data for hours worked at both original employers and at the sites of side-business activities can be managed on a single blockchain. Accordingly, it was confirmed that affairs straddling different companies can be managed|
|As a result of incorrect and fraudulent reporting of working hours, there is a risk of double-duty being recorded||Through exclusivity controls utilizing tokens*3, it was made impossible to record simultaneous clocking-on at multiple companies. Such functionality can be linked to preventing the claiming of double-duty|
|Issues Confronting Individuals||POC Results|
|There is the burden of individuals having to manage and report their own work details||Using the same tools, it is possible for companies to mutually manage work attendance between them|
|There is the risk of incorrect and fraudulent calculations of working hours being made on the part of original employers||Through the use of multi-signatures*4, both employers and employees can retain data, thus excluding the risk of impropriety on the part of either party|
*3“Tokens” are assets that can be kept as digital data. Multiple asset tokens can be issued, distributed and managed almost without restriction by mijin.
*4“Multi-Signatures” are a system whereby, in order for a single transaction to be completed, multiple approvals (e-signatures) are required. Such functionality has been incorporated into mijin as a basic feature. Moreover, the same functionality is also able to respond to complex workflows and user authority management.
It should be noted that “NI+C Accelerator 2017” was conducted by NI+C and Tech Bureau with the support of Crew Inc., and since that time open innovation activities that make use of mijin has been promoted. Thus, the POC carried out on this occasion was an extension of those activities.
In light of the results, with their aim being to provide society with even better services, going forward the three companies shall continue to conduct additional POC projects with a view to also realizing the creation of new services that make use of mijin blockchain technology.
About NI+C (http://www.niandc.co.jp/)
Established in 1985 as a joint venture between Nippon Telegraph and Telephone Corporation and IBM Japan Ltd., NI+C has extensive experience in handling large-scale systems across a wide variety of different industries through its background of proposing and providing optimized ICT solutions that meet customer needs. Additionally, commencing with the task of systems development, and extending through the subsequent phases of establishing backbone systems, setting up networks, and engaging in operational management and maintenance, NI+C provides its customers with total solutions. In addition to it currently making use of leading-edge developments such as the blockchain, artificial intelligence and the Internet of Things, etc., NI+C provides both cloud and network services (with the latter including the deployment of EDI: electronic data interchange technologies). In working with its customers, the company aims to become a true best partner who is capable of contributing to the resolution of business issues.
About PERSOL CAREER (https://www.persol-career.co.jp/)
PERSOL CAREER is positioned as a central player in the “recruiting segment” of the PERSOL Group, and in that capacity, it engages in a number of services including career development (through its “DODA” brand) and the provision of information on part-time job opportunities (through its “an” brand). Additionally, the company also offers services with respect to staffing needs, the advertising of employment opportunities, and the employment of new graduates, etc. PERSOL CAREER rebranded itself in July of 2017, it previously being known as Intelligence, Ltd. By leveraging the full resources of the PERSOL Group, PERSOL CAREER aims to assist its customers in the resolution of their labor and employment issues.
About the PERSOL Group (https://www.persol-group.co.jp/)
PERSOL is a new brand introduced in July 2016. The brand name was derived from the concept of “A person grows through his or her work (PERSON) and resolves issues in a society (SOLUTION)”. It contains the core message that together, we aspire to take on challenges for the brilliant future while supporting the growth of individuals and organizations.
Developed by Tech Bureau, mijin is designed to meet versatile enterprise needs with its enhanced private blockchain utilizing the NEM protocol that easily creates blockchain platforms on peer-to-peer networks. The blockchains can be used internally or in collaboration with partner companies in a cloud or other shared data environments. The mijin blockchain creates a secure data-sharing environment with high performance, zero downtime, and unfalsifiable data, while reducing the cost of conventional infrastructure. mijin has been tested extensively as a high-throughput ledger engine in financial institutions, electronic money systems, user authentication, land and property registration, logistics tracking, and food traceability.
About Tech Bureau Group
Tech Bureau, a fintech and cryptocurrency group company in Japan, the U.S., and Europe, develops software and services for blockchain technology. Tech Bureau has developed mijin, a private blockchain software, and Zaif, a Bitcoin and cryptocurrency exchange platform. Tech Bureau recently launched a one-stop solution, “COMSA”, that provides companies with consultation, expertise, and solutions to support their very own ICOs and implementations of blockchain technology into their businesses.
For more information, please see the following URLs:
Press contact, Tech Bureau: Aoki / firstname.lastname@example.org /+81–6–6533–2230
About NEM.io Foundation Ltd
NEM.io Foundation is a non-profit organization based in Singapore, set up to promote NEM’s blockchain technology globally. It is currently one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.
For more information, please visit: www.nem.io
Press contact, NEM.io: NEM@transform.PR / +1-415-595-2030
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