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Rakuten Coin? Rakuten will roll its $9B loyalty program into a new blockchain-based cryptocurrency - TechCrunch

Back in 2016, Amazon's Japanese rival Rakuten acquired Bitnet, a bitcoin wallet startup that it had previously invested in, to help it work on blockchain..

Article posted 4 years ago

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PA
Corporate coin or an actually useful token?

How will this affect smaller crypto-projects and other tokens?
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Anthony Sassano
@prestonattebery Interesting questions. I wonder if this leads to a paradigm shift away from centralized issue of 'loyalty' points and to something more open that can be actively traded on an open market worldwide.
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PA
@prestonattebery @sassal0x My question is...these giant co's are building blockchains & issuing tokens but likely will try and maintain control of what they create.

The thought process likely goes: "Blockchain is going to be HUGE. Let's build our own."
*builds blockchain*
"Oh wait, I don't have supreme control over MY blockchain?"
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Anthony Sassano
@prestonattebery Yes, agreed! It will take a while before we see the incumbents relinquish any of their power!
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Ben Tossell
Seems they may be launching their own coin to pump up their stock price which has been slowly declining...
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PA
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Anthony Sassano
Really curious to know which platform they built this on!
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X