Orix, Shizuoka Become Latest Japanese Banks to Trial Blockchain
A group of Japanese banks and technology companies, including Orix, Shizuoka Bank, NTT Data and NTT DoCoMo Ventures, have formed a new blockchain research initiative. Announced today, the news marks the latest move by members of Japan's finance and technology sectors to embrace or experiment with blockchain technology. As a result of the announcement, NTT Data, a professional services firm with a focus on IT consulting, will work with digital currency startup Orb to research the technology with the initiative's partners. Orix and Shizuoka, the banks involved with the project, said they....
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A consortium of financial institutions led by startup R3CEV has completed a trial of five different blockchain solutions. The blockchain concepts tests were presented by Eris Industries, Ethereum, IBM, Intel and Chain, according to reports by Reuters and The Wall Street Journal. Preparations began early last month, culminating with the test during the last two weeks of February. Forty banks took part, drawn from the collection of banks that have thrown their support behind the R3-led consortium. A number of those banks have launched trials of their own in addition to the work conducted as....
Several major Japanese banks, in partnership with bitcoin exchange bitFlyer and Deloitte Japan, have published the first results of a blockchain interbank payments trial. The Blockchain Study Group, which includes Mizuho Financial Group, Inc., Sumitomo Mitsui Banking Corporation and Mitsubishi UFJ Financial Group, Inc., have spent the last year collaboratively testing the technology for uses in bank-to-bank payments. The results of the specific trial disclosed today relate to the issuance of payments. According to the institutions involved, future testing will be widened to include the....
A number of Japanese banks are reportedly set to test domestic fund transfers using digital currencies over a blockchain as a low-cost alternative to traditional money transfers. According to a Thursday report by Nikkei, Japan’s most prominent financial publication, a handful of major Japanese banks will perform tests to determine if a digital currency powered blockchain platform could prove a viable alternative for the current national payments clearing platform ‘Zengin’. Operated by the Japanese Bankers Association, the Zengin System powers domestic money transfers in Japan. The....
Visa’s London-based innovation lab has announced its latest blockchain trial will focus on interbank payments. Visa Europe Collab revealed today it has partnered with Toronto-based BTL Group to explore how the startup’s interbank settlement system can leverage blockchain and smart contracts to streamline domestic and cross-border payments between banks. In statements, Hendrik Kleinsmiede, co-founder of Visa Europe Collab, said the two partners are now inviting European banks to participate in trials that would see them using the emerging technology for live payments to better explore its....