Japan's largest bank to develop a blockchain platform for mass adoption

As reported by Technology Review, Japan’s largest bank in terms of assets Mitsubishi UFJ Financial Group (MUFG) is collaborating with an American company Akamai with a view to develop a massively scalable blockchain platform for adoption in Japan.

The platform may prove to be especially impactful if it launches in time for the 2020 Olympics to be held in Tokyo. The key idea is to allow the international visitors of the event to pay more easily for goods in services in Japan if they are accustomed to electronic transactions that are still not very widespread in Japan. It is unclear, at the time of writing whether the blockchain platform in question will be public or permissioned, although the latter is more likely.



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