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Mitsubishi UFJ to Launch Blockchain-powered Payment Platform in 2021

Mitsubishi UFJ to Launch Blockchain-powered Payment Platform in 2021

Supply: iStock/winhorse

Japanese monetary big the Mitsubishi UFJ Monetary Group (MUFG) goals to launch a blockchain technology-based cost service in spring 2021, together with American cloud and community agency Akamai Applied sciences.

Akamai relies in Cambridge, Massachusetts, and, per Nikkei, the brand new platform will present “high-speed, large-capacity companies” and serve a lot of monetary wants, together with assist for billing and micropayments. The platform will reportedly make its debut in February or March subsequent 12 months.

The media outlet claimed that the 2 companies have created a joint-venture enterprise named World Open Community and plan to make the most of the brand new platform in “varied cost eventualities” to satisfy the challenges of the IoT (Web of Issues) period.

The deal can even reportedly contain the Japanese agency Seiko Resolution and its CREPiCO community, billed as Japan’s first wi-fi bank card cost service.

World Open Community additionally reportedly plans to launch a service that allows one-touch bank card funds at shops, merchandising machines and extra – with 80% decrease community connection charges (a typical bugbear for micropayment processing companies).

MUFG and Akamai have been collectively researching blockchain know-how for a number of years. In Could 2018, they collectively introduced the event of a brand new blockchain community that would supply companies for a brand new funds platform.

As reported, MUFG is ready to problem its personal long-awaited digital foreign money “within the second half of the present monetary 12 months.”
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Be taught extra:
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Japanese Billionaire and Crypto Trade CTO to Launch Fintech Enterprise
PayPal CEO: Monetary System ‘Not Working,’ Customers ‘Very Keen’ For Crypto
Going Cashless Is not Simple. Ask Sweden, or Zimbabwe

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