Mitsubishi Wants Its Own Blockchain Option
According to the Asahi Shimbun paper a week, Mitsubishi plans on unveiling the currency next year. There have been many reports regarding the financial institution testing its own blockchain solutions but according to Reuters, the project is well on its way. The bank’s spokesperson told the news outlet that there have been quite a bit of rumors floating around the media, but nothing has been stated by MUFG.
However the firm had this to say in an emailed statement to Reuters:
Regarding the speculation in media reports, these reports are not based on any statement by MUFG, and the details have not been decided. However, we can say that it is a fact that demonstration experiments are being conducted by MUFG on the’Coin’ within the company.
Some reports have stated that Japanese users will be able to tether their bank account to an app to use and get the”MUFG coin.” According to Asahi Shimbun, prices are said to be one MUFG coin to 1 yen and the system will be like the popular Japanese e-commerce currency Suica and bitcoin casino us promo code. The newspaper has stated that users will be able to remit the cryptocurrency with priceshigh paying bitcoin casino faucet bitcoin casino usa visa Alongside this information given by the editorial, MUFG coins may also get ATMs allowing the digital currency’s purchase .
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 blockchain-based firm Chain in a recently announced partnership revealed on the blog of the company. Both companies 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 happy to be working with Chain to explore the application of next-generation financial infrastructure that we believe could significantly improve the experience for our customers.
The Japanese company has its own targets set on blockchain and electronic currency solutions. It’ll be interesting to hear about the project features attributes associated with most cryptocurrencies. However, the company 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 is 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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Source: bitcoincasinoreview.net
