Mitsubishi Wants Its Own Blockchain Solution
According to the Asahi Shimbun newspaper last week, Mitsubishi plans on unveiling the money 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. 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 press.
However the company 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 can only say that it’s a fact that demonstration experiments are being conducted by MUFG on the’Coin’ within the company.
Some reports have stated that Japanese users will have the ability to tether their bank account to a program to use and receive the”MUFG coin.” Based on Asahi Shimbun, rates are believed 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 paper has said that users will be able to remit the cryptocurrency with very low prices attachedIn launching bitcasino scam Alongside this information provided by the Japanese editorial, MUFG coins may also get ATMs enabling the currency’s purchase .
Mitsubishi UFJ Financial Group is one of the banks that is a member of the R3 CEV consortium. The business has also been working with the blockchain-based firm Chain in a partnership shown on the corporation’s blog. Both businesses were working on a project that”instantly 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 customers.
The Japanese company has its aims set on digital and blockchain currency solutions. It’ll be interesting to hear about the project features other and immutability features associated with most cryptocurrencies. However, the business has no 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 consider Mitsubishi creating its own cryptocurrency? Tell us in the comments below.
Images via Pixabay, and wiki commons
Source: bitcoincasinoreview.net
