Bank of Tokyo is Planning to Use Blockchain for Contract Management
Bank of Tokyo-Mitsubishi UFJ (BTMU) intends to begin managing its contracts on a blockchain-based platform. Built on technology provided by the still in-development Hyperledger project and the design services of IBM, the two companies revealed today that the platform will manage service level agreements between BTMU and other third parties, starting first with IBM. According to a release, IBM and BTMU will first trial the service by transacting with each other over the platform. BTMU intends to ultimately migrate to the new contract management platform by the end of fiscal year 2017. IBM....
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IBM announced that it has signed a contract with the Bank of Tokyo-Mitsubishi UFJ (BTMU) to apply blockchain technology to the design, management and execution of contracts among business partners. The first pilot projects will automate business transactions between the two companies. The BTMU, a member of Mitsubishi UFJ Financial Group Inc. (MUFG), is Japan's premier bank and has a worldwide presence. The project is built on the Hyperledger fabric to use a blockchain for real-life contract management on IBM Cloud. The Hyperledger fabric is an open-source blockchain technology platform....
Technology giant IBM has signed a contract with the Bank of Tokyo-Mitsubishi, Japan’s largest bank, to develop and implement a blockchain based on smart contracts among business entities. The Hyperledger Project, an open-source blockchain platform led by the Linux Foundation will see its deployment in a new partnership between IBM and the Bank of Tokyo-Mitsubishi UFJ (BMTU). The two companies will build on a prototype that sees smart contracts on a blockchain used in multi-party business transactions to improve accountability and efficiency of service level agreements. An initial pilot....
Bank of Tokyo-Mitsubishi UFJ and IBM will be jointly deploying a blockchain based product built on Hyperledger protocol in 2017. The Hyperledger project is bearing fruits. Two participating companies in the Hyperledger Project, IBM and Bank of Tokyo-Mitsubishi UFJ have signed a contract to develop and use blockchain technology. A press release in this regard, issued by IBM, states that both the companies will be working together on automating inter-business transactions from next year. The project, built on Hyperledger Project Fabric – a Linux Foundation initiative will be implemented on a....
The future of decentralized contract is here - Singapore is road testing its first B2B contract registered to the Blockchain between two enterprises. While last week’s debut of smart contract between IBM and Bank of Tokyo-Mitsubishi UFJ is private in nature, this Blockchain MOU will be the first B2B contract publically available on the Blockchain for anyone to verify. The MOU outlines the clauses and conditions of partnership between BLOCKCON (a Blockchain conference organizer based in Singapore), and ACCESS (Singapore Cryptocurrency and Blockchain Industry Association) using Attores’....
In what could potentially be one of the first deployment of smart contracts in the corporate sector, IBM comes together with Bank of Tokyo-Mitsubishi UFJ (BTMU) to examine the design, management and execution of contracts among business partners using Blockchain technologies. IBM and BTMU plan to automate business transactions using Blockchain tech developed on the open source Hyperledger project. With this and other projects, Singapore emerges as a world’s center for Blockchain development. Blockchain in business now a reality. The announcement regarding the deployment of smart contracts....