agosto 8, 2017 | Posted in:Blog

Mitsubishi Wants Its Own Blockchain Option

According to the Asahi Shimbun newspaper last week, Mitsubishi plans on unveiling the currency next year. There have been a number of reports about the financial institution testing its own blockchain solutions but based on Reuters, the project is well on its way. MUFG has not stated anything, although the bank’s spokesperson told the news outlet that there were quite a lot floating around the press.

However the company had this to say in an emailed statement to Reuters:

Concerning the speculation in media reports, these reports are not based on any statement by MUFG, and the details have not been decided. But, we can only say that it’s true that MUFG is running demonstration experiments on the’Coin’ inside the company using a blockchain technology.

Some reports have stated that Japanese users will have the ability to tether their bank account to an app to use and get the»MUFG coin.» According to Asahi Shimbun, rates are believed to be one MUFG coin to 1 yen and the system will be like the popular Japanese e-commerce money Suica and bitcoin casino us voucher code. The paper has stated that users will be able to remit the cryptocurrency with pricesbitcoin casino promo code bitcoin casino list submit Alongside this general information provided by the editorial, MUFG coins may get ATMs allowing purchasing the currency that is digital with a smartphone.

Mitsubishi UFJ Financial Group is one of the banks that is also a member of the R3 CEV consortium. The company has also been working with the firm Chain in a recently announced partnership revealed on the blog of the company. The two companies were working on a project that»immediately and securely issue, transfer, sell and redeem Promissory Notes in a natively digital medium.» Mitsubishi UFJ Financial Group CIO, Satoshi Murabayashi, said:  

We are pleased to be working with Chain to explore the application of next-generation financial infrastructure that we believe could significantly enhance the experience for our clients.

The Japanese firm has its own aims set on blockchain and digital currency solutions. It will be interesting to hear about how other and immutability features associated with cryptocurrencies are offered by the project. However, the business doesn’t have any interest in the first cryptocurrency Bitcoin, Naoki Taniguchi, a global innovation expert at The Bank of Tokyo-Mitsubishi UFJ Ltd told Reuters last year in San Francisco.

«It’s all about the blockchain,» he said.

What do you think about Mitsubishi creating its own cryptocurrency? Tell us in the comments below.

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