Fujitsu develops a blockchain settlement system for nine …

Fujitsu develops a blockchain settlement system for nine Japanese banks

Fujitsu, a Japanese electrical and IT services company, will develop an interbank settlement system in a joint project with nine local banks on blockchain technology.

As stated in a Fujitsu press release, the platform test will be conducted by the Payment Clearing Network of Japanese Banks (her also called network Zengin), and him the goal will be to “make sure the blockchain technology is viable”.

Calculations on the platform will be performed at aid to an unnamed “digital currency”.

Besides Togo, according to press release, Fujitsu “additionally engages in the project his P2P money transfer platform developed in 2017 fiscal year together with three large banks and intended for dispatch money transfers to other banks that initiated the implementation of interbank money settlements “.

“By participating in this project, Fujitsu intends to create new platform using state-of-the-art technology to Togo, to help bring the creation of cashless society“, – says the publication.

Blockchain technology is not new to Fujitsu – last year the company released a tool that accelerates transactions for Hyperledger Fabric, an enterprise blockchain-solutions Linux Foundation. In addition, in June Fujitsu launched blockchain storage system designed to tokenize traditional retail promotional strategies like coupons and loyalty points.

Fujitsu develops a blockchain settlement system for nine ...

IN last thing time in Japan becomes everything more blockchain initiatives created by the forces of large banking companies. For example, in early October SBI Holdings launched a payment blockchain-MoneyTap application developed by jointly with American crypto startup Ripple.