Mitsubishi Wants Its Own Blockchain Option
According to the Asahi Shimbun paper last week, Mitsubishi plans on unveiling the currency next year. There have been a number of reports regarding the financial institution testing its own blockchain solutions but based on Reuters, the project is well on its way. MUFG has not said anything, although the bank’s spokesperson told the news outlet that there were quite a bit of rumors 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 statement by MUFG, and the details have not been decided. However, we could only say that it’s a fact that MUFG is currently running demonstration experiments on the’Coin’ inside the company.
Some reports have stated that Japanese users will be able to tether their bank accounts to an app to use and receive the”MUFG coin.” According to Asahi Shimbun, rates are said 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 also has said that users will be able to remit the cryptocurrency with feesTrusted 7bitcasino review 7bitcasino best casino bitcoin bonus Alongside this information provided by the editorial, MUFG coins may get ATMs enabling the purchase of the electronic currency .
Mitsubishi UFJ Financial Group is one of the banks that is a member of the R3 CEV consortium. The company has been working with the company 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, stated:
We’re happy to be working with Chain to explore the application of next-generation financial infrastructure that we believe could significantly enhance the experience for our customers.
The firm has its targets set on electronic and blockchain currency solutions. It will be interesting to hear about how features associated with most cryptocurrencies are offered by the project. However, the business 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 consider Mitsubishi producing its own cryptocurrency? Tell us in the comments below.
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