Mitsubishi Wants Its Own Blockchain Option
According to the Asahi Shimbun paper last week, Mitsubishi plans on unveiling the money next year. There have been a number of reports regarding the financial institution analyzing its own blockchain solutions but based on Reuters, the project is well on its way. MUFG has not officially said anything, although the bank’s spokesperson told the news outlet that there have been quite a lot of rumors floating around the press.
However the company had this to say in an emailed statement to Reuters:
Regarding 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’s a fact 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 accounts to a program 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 said that users will be able to remit the cryptocurrency with prices attachedBitcoinRush site Alongside this 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 a known member of the R3 CEV consortium. The business has also been working with the company Chain in a recently announced partnership revealed on the company’s blog. Both businesses were working on a project that”immediately and securely issue, transfer, sell and redeem Promissory Notes at a natively digital medium.” Mitsubishi UFJ Financial Group CIO, Satoshi Murabayashi, said:
We are pleased 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 the project features immutability and other attributes associated with cryptocurrencies. 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 consider Mitsubishi creating its own cryptocurrency? Tell us in the comments below.
Pictures via Pixabay, and wiki commons
Source: bitcoincasinoreview.info
Leave a Reply