agosto 21, 2017 | Posted in:Blog

Mitsubishi Wants Its Own Blockchain Solution

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

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

Concerning the speculation in media reports, these reports aren’t based on any announcement by MUFG, and the details have yet to be decided. But, we could say that it is true that MUFG is currently running demonstration experiments on the’Coin’ inside the company.

Some reports have stated that Japanese users will have the ability to tether their bank accounts to an app to use and receive the»MUFG coin.» According to Asahi Shimbun, rates are believed to be one MUFG coin to 1 yen and the system will be similar to the popular Japanese e-commerce money Suica and bitcoin casino us voucher code. The paper has said that users will be able to remit the cryptocurrency with feesbitcoin atm in casino bitcoin casino king casino bonus Alongside this general information provided by the editorial, MUFG coins may also get ATMs allowing purchasing the electronic currency with a smartphone.

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

We are happy to be working with Chain to explore the use of next-generation financial infrastructure which we believe could significantly improve the experience for our clients.

The Japanese firm has its own aims set on electronic and blockchain currency solutions. It’ll be interesting to hear about features associated with cryptocurrencies are offered by the project. However, the business has no interest in the first cryptocurrency Bitcoin, Naoki Taniguchi, a worldwide 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 producing its own cryptocurrency? Let us know in the comments below.

Images via Pixabay, and wiki commons


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