Japanese Shipping Line Develops Digital Cash for Crew
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Nippon Yusen K.K., Japan’s largest shipping line by sales, is introducing its own digital currency for crew members, people with knowledge of the matter said.
The goal is to make it easier for seafaring workers to manage, send and convert money into their local currencies, said one of the people, who asked not to be identified because the plan isn’t public yet. The shipper is developing its own digital cash, pegged to the U.S. dollar to avoid wild swings in value. It wasn’t clear whether it would use blockchain, or be a cryptocurrency variant.