Tokyo-based Hitachi LTD., has decided to join the fintech revolution with the opening of its new Financial Innovation Laboratory in Silicon Valley. The new laboratory will be be housed at Hitachi’s Global Center for Social Innovation (CSI) in Santa Clara, California, where research is scheduled to start sometime in April of this year.
According to the release, the lab will focus on studying the applications of blockchains, as well as form partnerships with innovators in the fintech space:
“The new organization will work together with CSI-NA in areas such as research & development of blockchain technology, a core technology of FinTech, and on collaborative creation with financial institutions.”
The Santa Clara CSI was established by Hitachi in April of last year with partners in North America, and the organization has been filling its roster with specialists in the fields of big data analytics and artificial intelligence.
Hitachi has been quite active in the fintech field the last two years, launching its mobile cash card service for Japanese residents in December of 2015, which gave consumers the ability to use their smartphones to complete financial transactions.
In February of this year, Hitach also joined the board of the San Fransisco-based Hyperledger Project, which is being administered by the Linux Foundation and is backed by some of the biggest corporations in the world.
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