Mizuho, IBM Partner to Test Digital Currency Settlements
Japanese banking giant Mizuho Financial Group and technology firm IBM have announced a partnership to test blockchain technology used in settlements with virtual currencies, using code from the Linux Foundation-led Hyperledger project. Mizuho Financial Group, a prominent Japanese banking group that is notable for its blockchain-based endeavors with previous efforts such as a partnership with consulting firm Cognizant to build blockchain solutions for record keeping has revealed a new blockchain project with tech giant IBM. In a recent announcement, the Japanese financial group revealed a....
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Mizuho Bank is weighing possible client-facing services after testing a prototype digital currency in partnership with IBM Japan. The project, first announced in June, saw the Japanese bank and IBM’s local division test the digital currency, one unit of which equals one yen. According to Nikkei, the initiative took place between July and September, focusing on an app that provided information about dining expenses and used the prototype currency as a basis. Other Japanese financial institutions, including Mitsubishi UFJ Financial Group (MUFG), have tested the concept of digital money in....
Private blockchains are making their way into the financial sector. Mizuho Financial Group and IBM are working on using this technology for settlement through virtual currency. The name Mizuho Financial Group is becoming synonymous with blockchain in the financial sector these days. In February of 2016, the financial institution partnered with Cognizant....
Japanese banking giant Mizuho has tested its digital currency developed in partnership with IBM Japan to reduce costs of money transfers, a report has revealed. The Mizuho Financial Group-IBM partnership announced earlier this year has seen successful testing of digital currency developed by the bank and the technology giant. According to a report Nikkei today, the three-month-long test saw trials use a mobile application wherein a single unit of Mizuho’s digital currency is equivalent to a single Japanese yen, essentially replicating fiat cash in value for the trial. The app-centric trial....
The Mizuho Financial Group, one of Japan’s largest financial services companies and among the three Japanese ‘megabanks’, has announced the development of a new blockchain application after completing trials of its custom digital currency and cross-border document sharing. The purpose of the trail was to test if a business process, built on a traditional centralized system, could be devised to function in a decentralized system at lower costs. Japan’s Mizuho first partnered US-based IT solutions provider and consultant Cognizant this time last year with the aim to build a blockchain....