April 30, 2024

JCB and MUFG Bank Invested in Logsys, which Operates a Metaverse Business

Logsys, backed by JCB and MUFG Bank, is poised to introduce a game-changing digital ID wallet. This innovation will fundamentally alter how users manage and verify their personal information and credentials in the metaverse, heralding a new era of seamless commercial and financial interactions.

The metaverse, a virtual realm where individuals can freely navigate as avatars using VR technology, is not just a concept but a future reality. JCB and MUFG Bank have recently bolstered this reality by underwriting a capital increase for Logsys, a significant step towards the metaverse's commercialization.

The metaverse is not just a concept but a future reality shaped by the collaborative efforts of three megabanks, Sompo Japan, Fujitsu, and others. Together, they are working on the 'Ryugyukoku' infrastructure to create a metaverse space that transcends borders by 2025.

Conventional metaverse requires users to register their names, passwords, and other usage information for each space. Logsys' new digital ID wallet will allow users to register their personal information once and then travel freely to and from other spaces. The advantage is that users' information and activity history can be shared between different spaces, making payments and signing contracts easier.