South Korean coffee shop chain heavyweight Tom N Toms is set to release what the South Korean media has universally called a “cryptoasset” that makes use of blockchain technology.
Per multiple media reports from outlets including News1 and Chosun Ilbo, the chain, which has more than 400 branches in around 10 nations worldwide and outlets in most major South Korean cities, will debut the token, named TomTom Coin, in the “first half” of 2021.
The token will make use of the My Tom smartphone app, and the firm stated that the coin would be accepted in its domestic and overseas outlets.
The company added that the token would be used as a “payment method” for “the company’s platform in the future,” and would “provide convenience, diversity, and transparency” to its customer rewards program.
And it added that the development was being made in line with government-promoted contact-free forms of payment – a priority for…
