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September 26, 2016 10:00 pm

Japanese To Pay Utility Bills Using Bitcoin

An anonymous reader quotes a report from The Stack: Japanese citizens will soon be able to pay their utility bills using bitcoin. The facility is being provided by Coincheck Denki, a new service offered by the Japanese bitcoin company, which will be available to users in November. Coincheck outlined the new plan on its website. Also called 'Coincheck Electricity,' it will allow users to pay their electricity bills directly from their Coincheck bitcoin wallet. It also offers a discount plan for heavy users of electricity, with 4-6% of the total bill discounted for heavy users of electricity who pay in bitcoin. Coincheck's parent company, Reju Press, initially partnered with Mitsuwa Inc., to create the bitcoin payment system. Coincheck now works with Mitsuwa subsidiary E-Net Inc., and has formed a partnership with Marubeni Power Retail Corporation, which operates power plants in 17 locations in central Japan. Marubeni has offices in 66 countries worldwide, although no plans have been announced to take the bitcoin payment option outside of Japan. While the initial bitcoin payment rollout is for electricity bills, Coincheck plans to expand its offerings to bitcoin payment for 'life infrastructure,' to include payment of gas, water and mobile phone bills. It may even partner with landlords to allow customers of Coincheck to pay rent using bitcoin. The bitcoin payment plan will be rolled out in Chubu, Kanto (including Tokyo) and Kansai regions to start, with additional areas to be added sequentially. The company hopes to offer bitcoin payment options to one million electric customers within the first year.

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