Image Source @视觉中国
Japan Mobile payment Security worries
A funny and generous thing happened last week at 7.11, a Japanese convenience store chain, when two Chinese broke through the line of defense and stole 55 million yen as soon as they went online.
On July 1, 7-11 officially began to import the independent QR code payment service "7pay" in more than 20,000 chain stores in Japan. In order to popularize 7Pay, 7.11 under the promotion of blood, the number of registered users in 3 days reached 1.5 million.
It is very unfortunate that only three days on the line, some people use system vulnerabilities to steal. By July 4th, it was estimated that the amount involved was 55 million yen, and the number of people involved was as many as 900. The official website of 7-11 immediately issued a notice to suspend the 7pay recharge service. The head of the 7-11 company also convened an emergency press conference and apologized, saying that 7-11 will bear all the losses.
More than 900 people discovered that the flaw was certainly a technical error rather than a cyber-attack. The fact also proved that the platform could modify the payment password without authorization through birthday. The situation is still under investigation by the police, but Xinxiu District has arrested two Chinese men suspected of fraud. The Japanese media reported that the two Chinese men were suspected of using a password for another person's account at 711 stores in Shinjuku District, Tokyo, in an attempt to buy 40 e-cigarettes worth about 200,000 yen.
The case attracted the attention of all parties, because of the wide range of people involved, Japanese police believe that transnational team crime may be involved. Now, in addition to the financial system secretly investigating, digital money as Japan's current means of payment, digital currency exchanges are also secretly holding a sweat.
Japan’s financial system is undercurrent, and its architecture is full of loopholes.
In the article before the chain got mentioned, Japan’s financial system, Bank of Japan, Mizuho Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Bank have always wanted to make a difference in the C-side, especially seeing mobile payment. The new technology that swept the world's frenzy, the Japanese government has also formulated a national policy of "no cash society." The major banking systems developed their own payment systems, the biggest of which was the 2016 J.Score project. Softbank endorsement, Ruisui dominates, riding the AI wave, the momentum is huge.
At the time of the blockchain boom, several major financial systems in Japan set off this project again. In February 2018, it was announced that the QR code payment service "J-Coin Pay" was about to go online, and 60 banks announced their joint efforts.
In January, however, the main developers, MHBK), Mitsui Sumitomo Bank (SMBC) and Mitsubishi UFG Bank (MUFG), announced their separate ways. All respond to the development of their own payment system, powerless and unnecessary to continue to cooperate.
Japanese nationals are not so much to pay for mobile payments. On July 3, the Financial Advertising Committee of the Bank of Japan announced the White Paper on the Financial Literacy Survey of 2019. The data also showed that over-and-a-half of Japan paid about 48.6 per cent of people using cash on a daily basis. In particular, please refer to the chain's previous report: the Bank of Japan: The encrypted currency holder is 7.8%, and the half-Japanese have not used the mobile phone to pay the chain.
On the other hand, Apple Pay,Alipay, and even WeChat Pay have landed in Japan one after another, in line with "everything for the convenience of users" of Japanese merchants and convenience stores, there are more than 10 mobile payment methods. Unfortunately, the low usage of Japanese customers, coupled with the unattractive mobile payments developed in Japan.
This has caused Japan's current dilemma. The financial banking system is licensed, but mobile companies like Line, which have many users, do not have a banking license. Although Line has also started to catch up this year, it has established LINE Bank in cooperation with Mizuho Bank, but the operation time is tentatively scheduled for next year.
Judging from the currency trading market, the current Japanese licensed exchanges must be verified twice. As with traditional financial banks, each registered user must confirm the mail. This is not an online mail, but a real postal express. confirm. After registering the transaction, the platform needs to send a confirmation letter to each user's address, which can be used after the user activates.
This seemingly backward and old-fashioned way of ensuring the relative purity of the Japanese digital currency trading market. Although there are often incidents of stolen money, at least the senior hackers have done it, and there is no such thing as a large-scale burglary in the "7.11 incident" last week.
However, Bitcoin transactions, which represent blockchain technology, still need to be activated by mail, and this may be the only strange appearance in Japan.
Take the trust and security to enter the Japanese B-end market
Nguyen Anbang, founder of Trias Japan, a start-up in block chain security, was interviewed. As a Chinese-funded startup, Trias is one of the startups that entered the Japanese market earlier in the blockchain industry, and its entry into the Japanese market is from the point of view of security. "the Japanese pay great attention to personal privacy," he said. "so instead of cutting the C-side market, we focus more on the B-side market."
The chain's day-to-day team has also mentioned that the development of mobile Internet in Japan is far behind, from the page to the user experience, the gap between the domestic mobile app is too big, so many big companies' App is not satisfactory, not to mention the security aspects. Trias Japan, with the tide of this wave, wants to cut off Japan's safe piece of cake and land-block chain technology.
Trias decentralizes the trusted software execution environment and trusted software build systems by leveraging blockchain and smart contract technology. Separation of powers is achieved by using three sets of subsystems: Leviatom is responsible for executive power, that is, executing a set of sequences; Prometh is responsible for legislative power, defining the attributes of each program; MagCarta (Magna Carta) Responsible for the judicial power, which indicates which procedures have been implemented, thereby determining the quality of the service, and rationally distributing the interests of all parties, and can also pursue claims.
"A lot of users don't believe in the cloud now, but they have to believe it," Nguyen Anbang said. Just like Japan, no matter how cash doctrine, in the mobile Internet tide, it has to be driven to mobile payment. "for many users, unless they are not in the cloud, they can only be passively believed, and this part of the data that does not have the cloud is full of sweat. Blockchain technology, can accurately record the user's access records, history, to ensure the success of each link will be implemented, this is where the blockchain can play a strong role in its own charm. "
In this logic, Trias decided to come to Japan with a sound foundation. Yan Anbang believes that the payment function and financing attributes of the blockchain are a complete ecology. “We mainly want to be an enterprise-level application that runs on the chain.”
Making money and letting others see it is the fastest way to popularize the blockchain
The Japanese market is extremely difficult, with 18 exchanges licensed by the Japan Financial Services Agency and major bank financial groups on the C side of the payment market. Nguyen Anbang believes Japan's B-side market needs more technology injection.
With 12 years of experience in the security field and a solid foundation in the team, Trias has achieved results in the country, helping local governments and industry Internet platforms to link together, with these successful cases and proven scenarios of local governments in Jiangxi Province. application. Trias is also rapidly expanding its market in Japan, but their ambitions are not here, trying to replicate through the alliance chain of different industries, and the newsletter captures the market.
"Only when others see that we are making money, we will think that the blockchain is a good technology and we want to get in touch with the blockchain." He said that making money for people outside the industry is the fastest growing blockchain. the way. "In the future, our main network public chain will be composed of various alliance chain nodes, and will be copied to the Japanese and Korean markets in the same way in the future."
"Let them make money." "in Japan, our market is more for commercial applications," he said. "the blockchain applications we make in the power industry in China can be copied directly to Japan. Every time we replicate the scene, we double the market revenue. "
Although no formal cooperation has been reached, Trias has attracted the attention of Japanese banks and insurance industry. PT Engine, which is closely related to Trias, is a SaaS startup that serves 200000 Japanese enterprises, mainly providing operation and maintenance services to users. It is necessary to obtain a lot of core data from users in the business, but because of all kinds of security problems in data transmission, the security problem is the most core in the transmission of core data, including financial statements. Trias puts forward an application for cooperation on the superior performance of using blockchain in intelligent contracts. "We can record the operational behavior of each user while ensuring the security of cloud data, and this visualization can reassure existing customers and potential users."
This seemingly simple design does not reverse the existing market in Japan, but it can help B-end users to acquire new markets. In the immature Japanese Internet field, perhaps this "top" is the best intrusion. angle. (This article was originally published in the chain too much, and authorized titanium App media release, author: Three Ronin)
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