Japan Content Token (JCT), a utility cryptocurrency token released in Japan, will be launched in January next year to provide the Japanese contents under the JCT project. By utilizing the blockchain technology, the JCT project provides a secondary market for ticket reservation for special events and experiential events. This provides an avenue for resale. By doing so, the ticket purchasers would be able to make reservations with minimized considerations for the future uncertainty, and putting the secondary market in place would also allow the possibility of last-minute bookings.
JCT token is based on the ERC-20 Ethereum token standard which is currently listed on global cryptocurrency exchanges such as BITMART, CYBEX and Fcoin. The ticket issuance and secondary distribution service platform, which is the core of the JCT project, is called ‘JaCKET (pronounce as jacket). On the jacket platform, users could buy and sell tickets to experience various cultural events in Japan. At the moment, the JCT token is used as an incentive and to pay for transaction fees in the whole distribution process.
The contents that are offered by the JaCKET include Discover Japan, Japan’s leading quality magazine; OTATALK, targeting Japan’s subculture area; 100 Olympians & Paralympians, covering second careers of athletes after retirement and Camp on Parade, which include the latest emerging camping equipment and travel contents.
The members of the JCT project are Chairman Hirofumi Mizuyama, a former member of Boston Consulting Group who assisted four companies to list on the Tokyo Stock Exchange, Hirochika Horiuchi, creator of Dentsu, Japan’s leading advertising agency, Shunsuke Azuma, who has served as a handball national team captain, and Kazuki Obata, a local activist evangelist in Japan.
The JaCKET platform offers convenient and remarkably efficient ways to perform reservation and cancellation of accommodation and restaurant through blockchain smart contract. Moreover, the platform adheres to the Japanese ticket reselling laws and regulations enforced by the government of Japan.
The entire platform goes beyond ticket purchasing by issuing ticket-related bonds and debts where these transactions are recorded in the blockchain, thus allows easy rights transfer. A full-fledged transaction using JCT tokens is expected to begin in May, 2019. It plans to launch each content starting from the end of December this year to raise the awareness to the public.
“The JCT project is supported by a management team that has a wealth of experience in establishing platforms that could build a strong foundation of distributed and trustless system based on blockchain technology,” said Chairman Mizuyama of JCT. “In the future, we will improve the platform for domestic and foreign users to consume Japan contents and we will actively promote it,” he added.
About Japan Content Token
Japan Content Token which is a unique ticket distribution platform where people, from Asian countries of rapid economic growth, could access to the Japan contents via blockchain smart contract and cryptocurrency token.