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Mitsubishi Wants Its Own Blockchain Option bitcoin casino free btc

Mitsubishi Wants Its Own Blockchain Solution

According to the Asahi Shimbun newspaper a week, Mitsubishi plans on unveiling the currency next year. There have been a number of reports regarding the financial institution analyzing its own blockchain solutions but according to Reuters, the project is well on its way. MUFG has not officially stated anything, although the spokesperson of the bank told the news outlet that there have been quite a bit 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 aren’t based on any statement by MUFG, and the details have yet to be decided. We can say that it is a fact that MUFG is running demonstration experiments on the’Coin’ inside the company using a blockchain technology.

Some reports have stated that Japanese users will be able to tether their bank account to a program to use and receive the”MUFG coin.” Based on Asahi Shimbun, rates are believed to be one MUFG coin to 1 yen and the system will be like the popular Japanese e-commerce currency Suica and bitcoin casino us promo code. The newspaper has stated that users will be able to remit the cryptocurrency with prices attached Alongside this information provided by the editorial, MUFG coins may get ATMs allowing the electronic currency’s purchase .

Mitsubishi UFJ Financial Group is one of the banks that is a member of the R3 CEV consortium. The company has also been working with the firm Chain in a partnership shown on the blog of the company. Both companies were working on a project that”immediately and securely issue, transfer, sell and redeem Promissory Notes in a natively digital medium.” Mitsubishi UFJ Financial Group CIO, Satoshi Murabayashi, said:  

We’re pleased to be working with Chain to explore the use of next-generation financial infrastructure which we believe could significantly improve the experience for our clients.

The company has its own aims set on blockchain and electronic currency solutions. It’ll be interesting to hear about the project features other and immutability attributes associated with most cryptocurrencies. However, the business has no interest in the first cryptocurrency Bitcoin, Naoki Taniguchi, a worldwide 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 think about Mitsubishi producing its own cryptocurrency? Let us know in the comments below.

Pictures via Pixabay, and wiki commons