Mijin Blockchain Completes Microfinance Data Transfer Test
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....
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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....
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....
Developing countries present a huge opportunity which is hidden under veil of a problem in the form of the underbanked. Burma is one such emerging economy. In such countries providing banking services to those who have been the most ignored by mainstream economy can bring about significant benefits. In neighbouring Bangladesh, microfinance has been hailed as a great success and nearly 700 microfinance institutions are operational which have been disbursing Bangladesh Taka 647 billion to nearly 34 million active borrowers according to the think tank, Copenhagen Consensus. Burma as an....
MicroFinance Institutions (MFI), businesses and charities providing small loans to some of the world’s poorest people, have slowly but steadily been going digital. Antonio Separovic has been at the forefront of this with his company, Oradian, which provides database and accounting software for MFIs. Last year, Separovic went to Stellar’s San Francisco offices with a problem: all the MFIs he was working with had no way to send money quickly and easily between each other. “It takes 12 hours and a bus to move money from a microfinance institution (MFI) in Lagos to an MFI in the north of Nigeria.”
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....