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 officially stated 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 are not based on any announcement by MUFG, and the details have yet to be decided. We can say that it’s a fact that demonstration experiments are being conducted by MUFG on the’Coin’ within the company using a blockchain technology.
Some reports have said that Japanese users will have the ability to tether their bank accounts to an app to use and get the”MUFG coin.” Based on Asahi Shimbun, prices are said to be one MUFG coin to 1 yen and the machine will be like the popular Japanese e-commerce currency Suica and bitcoin casino us promo code. The newspaper also has said that users will be able to remit the cryptocurrency with very low feesa href=”https://bitcoincasinoreview.info/777coin-casino-review”>777coin app Alongside this information given by the Japanese editorial, MUFG coins may also get ATMs allowing purchasing the currency that is digital .
Mitsubishi UFJ Financial Group is one of the banks that is also a member of the R3 CEV consortium. The business has been working with the firm Chain in a partnership revealed on the company’s blog. Both companies were working on a project that”immediately and safely issue, transfer, sell and redeem Promissory Notes in a natively digital medium.” Satoshi Murabayashi, mitsubishi UFJ Financial Group CIO, 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 clients.
The Japanese company has its targets set on blockchain and electronic currency solutions. It’ll be interesting to hear about how the project features attributes associated with most cryptocurrencies. However, the company doesn’t have any 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 producing its own cryptocurrency? Tell us in the comments below.
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