PAYCLE INC. (hereinafter referred to as “PAYCLE”), whose mission is to create a better future through the use of technology, UPCX-Platforms PTE. LTD. (hereinafter referred to as “UPCX”), which develops an open-source payment system based on a high-speed blockchain optimized for payment and financial services, and the Japan Society of Next Generation Sensor Technology (hereinafter referred to as “Next Generation Sensor Society”), which supports the practical application of sensors and contributes to the advancement of industry and science, have formed a business partnership in October 2024 to enable secure and efficient data management and analysis through the integration of blockchain technology. Through this partnership, the three companies aim to collaborate and provide innovative solutions across a wide range of fields.
Background of the Partnership
The Next Generation Sensor Society is composed of leading companies and research institutions in the industry, working towards the standardization of next generation sensor technologies and the development of new application fields. In addition, UPCX provides a payment platform utilizing the high-speed blockchain technology developed by PAYCLE, aiming to improve data management and payment solutions through the use of blockchain. UPCX has achieved 100,000 transactions per second (TPS) and has the potential for further expansion. When processing vast amounts of data generated by IoT devices on a blockchain, high processing power and scalability are required. UPCX’s technology, which meets these requirements, will be used. Through this partnership, the three companies will combine sensor technology, blockchain technology, and payment solutions to achieve enhanced data traceability and security.
Overview of Partnership
In this partnership, PAYCLE’s blockchain technology and UPCX’s blockchain payment solutions will be integrated with the next generation sensor technologies promoted by the SUCS Consortium, part of the Next Generation Sensor Society. This integration will strengthen data traceability and security, enabling the development of new applications in a wide range of fields, including IoT and smart cities.
Comments
Comment from Masafumi Murakami, CEO of PAYCLE INC.
“We are very pleased that this partnership will allow us to maximize the synergy between sensor technology and blockchain technology, contributing to enhanced data security and transparency. Our goal is for our technology to help create a safer and more efficient society for the future.”
Comment from Makoto Nakano, CEO of UPCX-Platforms PTE. LTD.
“I believe the combination of sensor technology and blockchain technology will bring significant innovation, especially in the fields of IoT and data management. We are honored to collaborate with PAYCLE and the Next Generation Sensor Society to provide a new technological foundation for data processing and traceability.”
Comment from Akira Kobayashi, Chairman of Japan Society of Next Generation Sensor Technology
“Sensor technology plays a crucial role in future social infrastructure, including IoT and smart cities. This partnership with PAYCLE and UPCX brings new possibilities for the secure management and utilization of sensing data through blockchain technology. We expect this collaboration to add value to sensing data and further promote the advancement of industries and the digitalization of society.”
Future Outlook
Going forward, PAYCLE, UPCX, and the Next Generation Sensor Society will continue to work together on joint research and development, with plans to announce new projects and solutions. Through these efforts, the companies aim to drive the evolution of digital technologies across various industries and build a robust ecosystem that can respond to global markets.
About PAYCLE INC.
PAYCLE INC. is involved in research and development in the fields of “blockchain,” “fintech,” “AI,” and ”quantum-resistant cryptography algorithms.” Since its founding in 2018, PAYCLE’s mission has been to harness technology to create a better future.
About UPCX-Platforms PTE. LTD.
UPCX-Platforms PTE. LTD. develops the open-source payment system “UPCX,” which utilizes high-speed blockchain technology. Our mission is to provide payment systems that meet the ever-evolving needs of society, making payments more enjoyable and exciting.
White Paper: https://upcx.io/whitepaper/
Linktree: https://link3.to/upcx
About Japan Society of Next Generation Sensor Technology
The Next Generation Sensor Society was established in 1989 with the goal of promoting and advancing sensor technology to support the cross-sectoral research and development of sensors and actuators in Japan. It primarily contributes to creating opportunities for researchers and engineers from universities, research institutions, manufacturers, and users to exchange information and connect with needs, seeds, and use cases across different organizations. The society hosts symposiums to discuss emerging technologies, seminars to understand the latest trends in current technologies, research meetings for mutual training, technical tutorials for new employees, and project research groups to contribute to the creation and development of new industries. It also organizes a comprehensive symposium, exhibition space, and free consultation booth on sensor technologies at the “Sensor Actuator Micro-Nano/Week,” an annual event held alongside the “Sensor Expo Japan” organized by Fuji Sankei Business i. The society became a general incorporated association in 2013, launching various activities to support the practical application of sensors and contribute to the advancement of industry and science. In 2021, it established the SUCS Consortium with the aim of standardizing sensor connections.
Disclaimer: This press release may contain certain forward-looking statements. Forward-looking statements describe expectations, plans, outcomes, or strategies for the future (including product offerings, regulatory plans, and business plans) and are subject to change without prior notice. Please be advised that such statements are influenced by various uncertainties, which may result in future circumstances, events, or outcomes differing from those predicted in the forward-looking statements.
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Website: www.upcx.io