Mitsubishi Wants Its Own Blockchain Solution
According to the Asahi Shimbun paper last week, Mitsubishi plans on unveiling the money next year. There have been many reports about the financial institution testing its own blockchain solutions but based on Reuters, the project is well on its way. MUFG has not officially stated anything, although the spokesperson of the bank told the news outlet that there have been quite a lot floating around the media.
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. We can only say that it is a fact that MUFG is conducting demonstration experiments on the’Coin’ inside the company.
Some reports have stated that Japanese users will be able to tether their bank accounts to a program to use and receive the”MUFG coin.” According to Asahi Shimbun, rates are said to be one MUFG coin to 1 yen and the machine will be similar to the popular Japanese e-commerce money Suica and bitcoin casino us promo code. The newspaper has stated that users will have the ability to remit the cryptocurrency with fees attachedbitcoin casino no deposit bonus usa usa bitcoin casino fair Alongside this general information given by the editorial, MUFG coins may also get ATMs allowing the purchase of the electronic currency 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 been working with the blockchain-based firm Chain in a newly announced partnership revealed on the company’s blog. The two businesses were working on a project that”instantly and securely issue, transfer, sell and redeem Promissory Notes at a natively digital medium.” Mitsubishi UFJ Financial Group CIO, Satoshi Murabayashi, stated:
We’re pleased to be working with Chain to explore the use of next-generation financial infrastructure that we believe could significantly improve the experience for our clients.
The company has its aims set on electronic and blockchain currency solutions. It’ll be interesting to hear about the project features immutability and other attributes associated with cryptocurrencies. However, the business has no interest in the original 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 consider Mitsubishi creating its own cryptocurrency? Let us know in the comments below.
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