Japanese Banks Explore Blockchain, Help Repair Bitcoin’s Reputation After Mt. Gox
Leading Asian Bitcoin exchange, Coincheck launched in 2014 just as drama in the industry was at an all-time high. Mt. Gox, led by Mark Karpeles, was in the midst of a drawn out and damaging bankruptcy. Media attention was at an all-time high, especially in Japan, where Mt. Gox had been headquartered. Media reports were oft misleading about the true relationship between Mt. Gox and the digital currency, Bitcoin. “Every media outlet in Japan broadcasted Mt. Gox as Bitcoin implanting misleading impressions to the Japanese people,” said Coincheck’s Lead of Business development, Kagayaki....
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As global banks are increasingly experimenting with the blockchain to search for possible use-cases that they can implement in its existing banking systems, CoinTelegraph has compiled a list of some of the most notable banking giants experimenting with Bitcoin’s underlying technology. Some of the world’s most prominent banks including Citibank are even trying to create their own blockchain to facilitate transactions and settlements quickly. The following list will explore which big banks are closely studying and developing interesting use-cases for the blockchain. Santander Bank, the....
Japanese regulations have restricted banks’ abilities to invest in fintech startups, including Bitcoin and blockchain companies. However, that is about to change. Japan’s biggest banks are now reportedly looking to pour hundreds of millions of dollars into fintech, including blockchain companies. Japan’s Banking Law Removes Funding Limits. The....
42 banks are joining a newly-created Japanese blockchain consortium to enhance the cross-border payment industry. The consortium will focus on research and development, and will cover domestic and foreign exchange services by utilizing blockchain technology. SBI Holdings and Ripple Asia Launch 42 Bank Consortium. .The Japanese blockchain organization....
Three of the biggest banking corporations in Japan have partnered bitFlyer, Japan’s biggest bitcoin exchange to test the viability of domestic money transfers over blockchain technology. The banks discovered that money transfers over a blockchain were just as fast, if not faster compared to traditional money systems. In a report today by regional publication Nikkei, few details have been revealed, about the banks-led blockchain tests including the crucial snipper of whether or not the distributed ledger used was, in fact, the bitcoin blockchain. It’s merely speculative, due to the....