One of the most technology innovator countries in the world, Japan, is prepared to start using Bitcoin as a method to pay for utility bills. Bitcoin is a form of a digital currency which is issued and managed peer-to-peer, without any central authority, being produced by computers that solve mathematical problems. The use of bitcoins has experienced a huge growth in the last years with many online vendors accepting it as a form of payment.
Japan reached an agreement with Coincheck Denki, a service that facilitates utility bill payments via bitcoins in certain regions of the country. This is not a new feature as Germany was the first country to use it, however, it’s another step for the future of e-payments and e-currency. The service will roll out in different phases and only in three locations, Kansai, Kanto and Chubu, where the major population centers, including Tokyo and Osaka. This plan is in partnership with Marubeni Power Retail Corporation, which operates power plants in more than 15 locations in central Japan.
There are two different plans for the users: light users, which will be allowed to earn bitcoins from saved amounts and heavy users which are entitled to discounts from 4% to 6% of the energy bill if bitcoin is being used as a payment method. The company is targeting one million customers within the first year followed by projects to extend to other regions in Japan. In addition, there are plans for other utilities such as gas, water and mobile phone bills to be paid using this service.
Although the project is still in the beginning phase it is encouraging to consider that other governments will follow it if it’s implemented with success. What do you say, would you be interested in paying bills online in Bitcoins?
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