Daehong Communications, a subsidiary of South Korea’s Lotte Group, has revealed plans to establish a blockchain-powered “Money Movement” ecosystem utilizing Aptos, a high-performance Layer 1 blockchain. This initiative stems from a partnership formed between Daehong Communications and Aptos Foundation last year.
The “Money Movement” system aims to monitor and authenticate digital assets like mobile vouchers, loyalty points, mileage, and stablecoins throughout their lifecycle, from creation to utilization in real-world transactions. All transaction details will be securely recorded on the blockchain, ensuring transparency in ownership and management.
As a component of this endeavor, Daehong has integrated Aptos’ blockchain technology with “Giftiel,” a mobile voucher service operated by its subsidiary, Spoon. Giftiel has already attracted over 500,000 users holding vouchers on Aptos during the soft launch phase, with more than 1 million vouchers issued.
By migrating Giftiel’s voucher lifecycle — issuance, distribution, and redemption — onto the blockchain, users can benefit from full transparency and traceability of their vouchers. Businesses, on the other hand, will gain access to reliable usage data for enhanced operational insights. The system has the potential to expand into various areas such as customer rewards, commerce services, and stablecoin applications in the future.
Daehong Communications aims to enhance its technical and marketing collaboration with Aptos Labs to further enhance the Aptos ecosystem. Real-time blockchain data from Giftiel is already accessible through an explorer tool provided by Web3 solutions company Xangle, offering comprehensive insights into vouchers, transactions, and user statistics.
This project showcases a tangible application of blockchain technology in everyday commerce, with the possibility of wider adoption in digital asset management.
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