PLANET PLA White Paper

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Hello and welcome to this blog post about PLANET PLA White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.

There is a lot to learn about this futuristic tech, lets get started to dive into the PLANET PLA white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.

The aim of this blog post is to help you quickly understand about the philosophy behind the PLANET PLA.

I can ensue you that, you will be able to understand every bits and pieces related to PLANET PLA after going through the PLANET PLA white paper.

Without wasting any further time lets get started to dive right in and lets understand white paper first.

What is white paper?

A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.

A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.

PLANET PLA White Paper

PLANET PLA white paper will be going to provide you, all the information that is needed to get started with PLANET PLA, including the inspiration for creating, the problem it is trying to solve and the solution proposed by PLANET PLA.

Introduction

In the “Cashless Vision” announced by the Ministry of Economy, Trade and Industry in April 2018, the goal of increasing cashless payments in Japan to 40% by 2027 was set. In response to this goal, this project will promote Japan’s cashless policy, pursue the diversification of payments on the Internet while using blockchain technology, as well as promote the improvement of convenience and efficiency of various payment methods.

[Reason for Working on Cashless Payment]

The declining birthrate and aging population, the declining population, and the accompanying decrease in the working population have become major issues in Japan and improving national productivity has become an inevitable issue. Cashless payments are expected to lead to unmanned labor saving in stores, visualization of uncertain fund flows, improvement of tax revenue by deterring uncertain cash distribution, and revitalization of consumption.

The methods for realizing cashless payments are diversifying, and it is expected that cashless payments that utilize innovation in various ways will continue to appear in the future. In addition, the number of foreign tourists visiting Japan is increasing year by year, but it is said that 40% of them are dissatisfied with the fact that they can only use cash, it is estimated that if this situation does not improve, an annual opportunity loss of about 1.2 trillion yen will occur.

The spread of cashless payments in Japan is behind of the world is because of security concerns about cashless payments and the Japanese citizens’ preference for using cash. In view of this, we propose a method that utilizes blockchain technology to solve this problem.

[Blockchain Technology Based Payment]

All money sent and received on the blockchain is recorded in the ledger and managed in a decentralized manner, so it cannot be tampered with and cannot be fraudulent. Therefore, it is expected to visualize the flow of funds and deter uncertain cash distribution. In addition, even if some nodes are attacked, the system will not go down, as it has strong security.

With payments that utilize blockchain technology, users can immediately check how much they have used and all of it is recorded in the ledger, so users can prevent it from being overused compared to credit cards. The purpose of this project is to pursue the convenience and efficiency of cashless payments utilizing blockchain technology and to diversify payments on the Internet.

White Paper Link: PLANET PLA White Paper

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