The use of blockchain services is spreading like wildfire as the food space also gets involved, Japanese financial firm Nomura has announced a new token service buy and trade food dishes at an upmarket Italian restaurant.
Nomura Holdings Inc., Japan’s largest financial firm, has developed a subscription service that allows clients to buy and trade food dishes at a high-end Italian meal delivery service.
Four premium food bundles from Japanese chef Masayuki Okuda are represented by blockchain-based security tokens.
Okuda, the owner of two well-known restaurants in Tokyo’s capital, is recognized for his eccentric cooking technique, frequently serving his customer’s unusual dishes such as olive-fed beef and zusayama chicory.
Annual subscriptions to the Italian restaurant cost 60,000 yen ($546) plus a 3,000 yen ($27.30) up-front membership fee.
Customers may order pumpkin ravioli, corn and chicken tortellini, and asparagus pizza, among other meals, from the delivery menu, according to the service’s website. It was also mentioned that starting next year, token owners will be able to trade their acquired food assets.
Nomura arranged a pilot initiative last year in which crypto tokens were traded in exchange for a real-life experience.
Local residents who bought a token could help make soups from asparagus plants cultivated by Nomura Farm Hokkaido Co, a subsidiary of the corporation.
In the future years, Nomura wants to expand into new industries, including efforts to promote local firms selling agricultural and fishery products, as well as contributing to the expanding use of digital assets in the real world.
Digital currency regulations in Japan
The Japanese government has recently pushed through legislation and regulations to encourage the use of digital assets.
As of today, the space is still in its infancy, but collaborations like Coinbase’s with Mitsubishi UFJ Financial Group imply that demand is rapidly expanding across the country.
In the early summer of 2010, computer programmer Laszlo Hanyecz made the first business transaction with Bitcoin, a newly generated money.
Hanyecz bought 10,000 BTC for two Papa John’s pizzas, which were worth a meagre $41 at the time but are now worth a staggering $480 million.
