Japan Open Chain Now Supported by Enterprise Cryptocurrency Wallet 'Ginco Enterprise Wallet'

Japan Blockchain Foundation Inc. (Representative Director: Hidekazu Kondo, hereinafter "the Company"), the consortium management company for Japan Open Chain, is pleased to announce that support for "Japan Open Chain (JOC)," a public chain originating from Japan, has been completed in "Ginco Enterprise Wallet," an enterprise cryptocurrency service provided by Ginco Inc. (Representative Director: Yuto Morikawa, hereinafter "Ginco"). This enables Ginco Enterprise Wallet users to handle "JOC tokens," the gas fee (usage fee) for the blockchain "Japan Open Chain," in both hot wallets and cold wallets.

Ginco Enterprise Wallet is Japan's No.1 cryptocurrency wallet with the largest number of supported currencies, enhancing asset management security and operational efficiency while enabling speedy addition of new currencies.

*According to Ginco research (February 2024) Survey target: Wallet services for cryptocurrency exchange operators in Japan

◽️ Background

As a Web3 Development Company supporting corporate Web3 business, Ginco's enterprise wallet "Ginco Enterprise Wallet," which supports the Web3 business development of many companies, is particularly supported by cryptocurrency exchange operators and other cryptocurrency handling businesses, and has become the industry standard service with the No.1 market share in Japan.

With Ginco Enterprise Wallet's new support for the blockchain "Japan Open Chain," we will support asset management for validators (blockchain operating partners) of Japan Open Chain and businesses considering the construction and operation of various services based on Japan Open Chain.

Through this partnership, we can support companies deploying web3 services on Japan Open Chain, and it is expected that companies' business development in the Web3 domain will proceed more smoothly. Through such partnerships, we aim to promote the development and popularization of Japan's blockchain technology and support corporate digital transformation.

Ginco Enterprise Wallet supports a total of 57 currencies

◽️ About JOC Tokens

JOC token is the usage fee (gas fee) that occurs when operating something on the blockchain "Japan Open Chain," and it is a cryptocurrency. Tokens necessary to use blockchains like this are also called native tokens. (Ether (ETH) on the blockchain "Ethereum" falls into this category.)

When many operations (transactions) occur on the blockchain "Japan Open Chain," the use of JOC tokens increases, so demand for JOC tokens increases and the value (price) rises. Just as stock prices rise according to a company's performance and expectations, JOC token prices also fluctuate according to performance (transaction volume) and expectations (start/planning of projects expected to increase transaction volume, etc.), so holding JOC tokens results in gains or losses due to price fluctuations.

◽️ Public Chain 'Japan Open Chain' Focusing on Practicality

This is an Ethereum-compatible (Layer 1) public chain jointly operated by leading companies in the industry, including CORGEAR, a Sony Group startup; NTT Communications from the NTT Group; Dentsu; and TIS. We design it as a practical blockchain infrastructure that anyone in the world can use safely, securely, and inexpensively, particularly optimized for use in financial and business fields.

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＜Main Features＞

• Safe and Secure Operation by Japanese Companies

  • Validators are companies that have passed appropriate screening

  • Operations are conducted in compliance with Japanese law, with clear legal basis

• PoA-based Ethereum-compatible Chain

  • Fully compatible with Ethereum, allowing direct use of tools and smart contracts developed for the Ethereum protocol

  • Adopts PoA (Proof of Authority) algorithm, realistically balancing decentralization and scalability

  • High security performance through necessary and sufficient decentralization, network stability and controllability, excellent energy efficiency with environmental consideration

• Fast and Inexpensive Fees, Optimized Design for web3 Business

  • Achieves processing speed dozens of times faster than Ethereum mainnet

  • Inexpensive fees of less than 1 yen per NFT issuance

  • Eliminates settlement risk through deterministic finality

• Projects by Major Corporations and Local Governments Including Stablecoin Issuance Are Underway

  • Financial DX projects using Japan's first bank-issued stablecoin

  • Various NFT projects by local governments including "Digital Citizen Certificates"

◽️ About Ginco Inc.

With the vision of "Changing the Circulation of the Economy," Ginco is a Web3 Development Company that supports corporate Web3 business utilizing blockchain technology. Since its establishment in 2017, as a comprehensive developer in the Web3 industry, we have been providing infrastructure to utilize blockchain faster, more safely, and more cost-effectively.

In addition to B2B businesses such as "Web3 Cloud," an API & SDK service for Web3 service development, "Web3 SaaS" centered on enterprise cryptocurrency wallets, and professional services including consulting, we are working on social implementation of Web3 from multiple angles, including providing the personal mobile wallet app "Ginco."

Location: 3-27-4 Hatchobori, Chuo-ku, Tokyo 104-0032 Representative: Yuto Morikawa Established: December 21, 2017 Business: Development, operation, and provision of cloud-based blockchain infrastructure and various enterprise services using said infrastructure Company URL: https://ginco.co.jp/ Product URL: https://www.ginco.co.jp/service/enterprise-wallet