Blockchain voucher system introduced by Daehong on Aptos network
Daehong Communications and Aptos Labs Revolutionize Retail with Blockchain Integration
Daehong Communications, the marketing arm of South Korea's Lotte Group, has partnered with Aptos Labs to launch a blockchain-based "money movement" ecosystem using the Aptos blockchain. This collaboration could serve as a model for companies around the world aiming to apply blockchain in sectors such as digital commerce, loyalty programs, and customer rewards [1].
The new system, which includes Daehong's mobile voucher platform Giftiel, is designed to enhance transparency, security, and traceability for all transactions within the Giftiel ecosystem. Over 500,000 users and more than a million vouchers are already part of the Giftiel ecosystem [2].
Aptos Labs provided infrastructure support for the integration, highlighting it as a key enabler for large-scale enterprise innovation [1]. The system is built on Aptos' scalable blockchain, known for its high throughput and low latency. This ensures scalable, low-latency, and high-throughput transaction processing, which is crucial for retail environments that handle large volumes of transactions [1].
Daehong Communications expects enterprises to gain deeper operational insights from the on-chain data, while consumers will benefit from securely verifiable ownership of their digital vouchers. By tokenizing real-world assets like vouchers on the blockchain, Daehong Communications modernizes traditional retail ecosystems without imposing the complexity of blockchain technology on users [1].
The Aptos Explorer, developed by Web3 service provider Xangle, makes real-time blockchain data available. This allows businesses and consumers to monitor voucher transactions, user statistics, and detailed token histories, offering a valuable resource for data-driven decision-making [1].
Future expansions could potentially include tokenized assets and stablecoin-based transactions as part of the platform's evolving functionality. This could further streamline digital payments and asset transfers within retail environments [1]. Solomon Tesfaye, Chief Business Officer at Aptos Labs, highlighted the commercial potential of blockchain for businesses seeking scalable and efficient solutions [1].
Kang Tae-ho, who leads Daehong Communications' Future Growth Division, indicated that this shift would empower users with clearer visibility and control over their digital entitlements. The broader roadmap envisions greater adoption of Web3 technologies as regulatory frameworks for digital assets and stablecoins evolve [1].
The soft launch of the blockchain-based Giftiel service has already demonstrated practical benefits. Every stage of the voucher lifecycle, from issuance to redemption, will be recorded on-chain, offering verifiable real-time insights into voucher usage and ownership [1]. The initiative aims to deliver enhanced transparency, security, and traceability for all transactions within the Giftiel ecosystem.
Daehong Communications plans to expand its partnership with Aptos Labs to include additional technical support and marketing initiatives. This collaboration could accelerate blockchain adoption in traditional commerce while enabling new digital economy use cases [1]. The initiative is designed to shape a more dynamic digital asset environment and enhance customer engagement.
References: [1] BusinessWire. (2022, February 16). Daehong Communications Launches Blockchain-Based Money Movement Ecosystem Using Aptos Blockchain. Business Wire. [2] Cointelegraph. (2022, February 16). Daehong Communications integrates Aptos blockchain for Giftiel mobile voucher platform. Cointelegraph.
The integration of Aptos blockchain technology into the Giftiel mobile voucher platform by Daehong Communications is set to revolutionize retail, offering a scalable, secure, and traceable ecosystem for digital transactions. By tokenizing real-world assets like vouchers, Daehong Communications aims to modernize traditional retail ecosystems without imposing the complexity of blockchain technology on users. As part of this collaboration, Aptos Labs provides vital infrastructure support, ensuring high-throughput and low-latency transaction processing that is crucial for retail environments.
