Japanese banks unite to launch Blockchain financial platform services

Five Japanese banks collaborated to launch the Blockchain-based financial services infrastructure. Iwate Bank, Yokohama Bank, Aomori Bank, Akita Bank and Yamanashi Chuo Bank will work together on the platform called ita Fitting Hub Bankası. According to the announcement in the press release, the first service to be presented on the platform will be an electronic distribution service and is scheduled to be launched in April.

At the end of 2018, when the local news agency Nikkei reported on the date on which the partnership first appeared, the platform testing work began in July 2018 and a timetable was set for full operation within one year.

Priorities for a number of financial transactions to make more efficient efforts in banking activities will benefit IBM expertise in the development of the platform, which is highly critical of Blockchain.

As known, the IT giant is a company that has gained a significant place in the corporate Blockchain arena with the use of the IBM Blockchain service pack.

Yönetmek It is possible to receive and manage form data from multiple financial institutions and companies on a single screen with the electronic distribution service that will be launched this time, sefer the press release said.

Japanese banking sector continues to specialize in Blockchain and crypto coins

In the light of these developments, the Japanese banking sector is taking big integrative steps in both Blockchain and Crypto coins this year. Last month, Mizuho announced that he would open his own crypto-money platform and even develop his own stable coin.

At the same time, Daiwa, the country's second-largest securities broker, confirmed the completion of Blockchain post-trade processing solution tests.

According to Fitting Hub's website, the new interbank project will also have financial authentication and mediation functionality.