Japanese Bank Acknowledges Mijin Blockchain Infrastructure Test
Various financial institutions and blockchain providers are testing distributed ledger technology solutions these days. Tech Bureau Inc. provides blockchain infrastructure through Mijin, and their blockchain infrastructure was successfully tested by SBI Sumishin Net Bank. Mijin Blockchain Infrastructure Field Trial. It is worth noting this field trial of Mijin blockchain infrastructure was not a typical trial of securities system, but rather to see if the blockchain can be a viable accounting system for financial players. SBI Sumishin Net Bank was curious to find out of a customer....
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It is positive to see this experiment being completed successfully. There have been some questions regarding the scalability of blockchain solutions in the financial sector. Mijin can handle close to 100,000 transactions per second, making it more suitable for transfers taking place in quick succession. Blockchain technology has been captivating audiences all over the world. For the longest time, it has been a matter of when the technology would be introduced in the financial sector. Myanmar may become one of the world’s first countries to implement DLTs. A new partnership between....
CEO of Tech Bureau Takao Asayama has unveiled Mijin, which is a low-cost solution for creating permissioned blockchain. The news to this effect came via a press release issued to the media which also made a lucrative claim; that the main aim is to "reduce infrastructure costs by up to 1000% by 2018." The press release further stated that Mijin is the platform that will allow anyone to set up a blockchain on a peer-to-peer network easily. It also said that it has the capability to easily replace traditional databases to create point systems, payment services, online games, airline mile....
In one of the first instances of blockchain technology developed and tested for accounting systems rather than post-trade settlement and securities processes among financial institutions, the SBI Sumishin Net Bank in Japan has conducted a successful blockchain test which saw distributed ledgers replace their actual ledgers. A three-month long experiment by Japan-based SBI Sumishin Net Bank in collaboration with Singapore Fintech startup Dragonfly Fintech and Japanese blockchain solutions provider Tech Bureau Corp – developer of Mijin, the distributed ledger tech used in the experiment —....
Sakura Internet, one of the top cloud providers in Japan and Tech Bureau, have recently signed up to take part in Mijin’s CloudChain open beta test. Mijin is a platform that was created so individuals and organizations can quickly deploy permissioned blockchains and use them in a “production environment.” The company is now offering a first-come, first-serve free distributed ledger for six months. CEO Takao Asayama told Bitcoinist: “We are pleased to roll out this Mijin CloudChain service, which lets you know the power of the blockchain. Now any institution or individual can build a real....
Japanese banking group Mizuho has completed a blockchain test focused on cross-border securities settlement. The test used the Open Assets Protocol, a commonly deployed implementation of colored coins that provides an added layer of functionality to the bitcoin blockchain. Using Open Assets, bitcoins can be specially marked to represent other assets on the blockchain. According to an 8th March press release, the test included the participation of Japanese IT giant Fujitsu, including its research and development arm Fujitsu Laboratories. The participants said that the test, which took place....