Just-In: Thailand malls to incorporate Crypto with its native token pilot

The retail giant of Thailand, Central Retail Corp., has confirmed the pilot for its virtual currency ‘C-Coin’, which can be used in place of fiat to make payments at eating outlets, and stores of Central’s partners to purchase products and services. While the native token’s pilot is currently limited to Central Retail’s employees, the organization ascertained its target to further expand the offering to the customers as well. C-Coin is built on the blockchain network and is presently undergoing the process of distribution amongst Central’s 80,000 employees worldwide.

The company is currently focused on launching the pilot to learn more about the adoption and functioning of the token, to further expand utility to its customer upon achieving successful results. This was confirmed by Kowin Kulruchakorn, the chief innovative officer at Central Tech, a unit of the retail giant that invented the C-Coin and handles all of CRC’s Omni-channel and e-commerce platforms. However, Kowin did not provide any details about the process of distributing C-Coin amongst its customers. Furthermore, there is also no clarity about whether C-Coin will be listed or available for trading.

“We’ll be looking to enhance the C-Coin after we have used it within our network…If our employees are able to use the C-Coin, then our customers should have no problems with it…We see a lot of potential for the C-Coin. No matter whether our customers are migrating online or going back to malls offline, we must find the best ways to reach them and create spending…There are so many different opportunities that blockchain technology can bring us.””, Kowin Kulruchakorn told Bloomberg.

Private Crypto or a marketing strategy?

Exclusively launching private crypto to promote products and franchisees may become another crypto trend in near future. Earlier this month, Ex-Arsenal superstar, Mesut Özil also announced the launch of his private crypto token to further market his clothing brand, M10Streetwear. According to CoinGape’s previous coverage, Ozil coin owner could trade it the same as Bitcoin and acquire discounts on his gear. Additionally, traders may also get an opportunity to meet Ozil, as a reward for purchasing his digital token.