Mitsubishi and Tokyo Tech create blockchain system for P2P energy trading
Beginning in April, the electronics giant and university R&D team will evaluate and tweak the new trading system's performance before commercialization. Mitsubishi Electric has teamed up with researchers from the prestigious Japanese university, Tokyo Tech, to jointly design a blockchain-based trading system that can support more flexible, peer-to-peer energy trading.Announced on Jan. 18, the new system is intended to support the efficient use of surplus electricity that is generated from renewable energy sources. In particular, it is hoped that the trading system can ensure that at any....
Related News
The Bank of Tokyo-Mitsubishi UFJ and Hitachi are working on a blockchain-based prototype that processes and verifies the integrity of check payments. Hitachi & Mitsubishi Test Blockchain-Based Checking. Blockchain technology has become quite popular in Japan to financial institutions that reside in the region. According to Nikkei, this particular....
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....
Considering how the Bank of Tokyo is part of the Mitsubishi UFJ Financial Group. the name of their new digital currency will be MUFG Coin. The Bitcoin protocol and its underlying blockchain technology have thrown traditional finance a curveball they never expected. Digital currency allows for global financial services, regardless of existing infrastructure provided by banks or governments. It was only a matter of time until banks decided to look into this technology more, and eventually, issue their own digital currency. The Bank of Tokyo – Mitsubishi UFJ is looking to issue their version....
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....
Coinbase, the leading cryptocurrency company has today announced its partnership with a leading Japanese financial institution, Mitsubishi UFJ Financial Group Inc. (NYSE : MTU). The partnership involves Mitsubishi Financial and others making a considerable investment of $10.5 million in the digital currency company. The recent influx of investment will play a very important role in Coinbase’s future as it will help the company in its expansion spree. At the same time, the investment in Coinbase makes it the first investment for Mitsubishi UFJ Financial Group in the digital currency sector.....