Several Japanese Banks Partner to Experiment with Blockchain Technology

In a joint press release, ORIX Corporation, ORIX Bank corporation, The Shizuoka Bank, NTT DATA Corporation and NTT DOCOMO Ventures, have announced a joint research initiative that will focus on exploring the application of blockchain tech in the financial industry, as well as possible use cases in other sectors of Japan’s economy.

According to the press release:

“In the course of carrying out the joint research, the companies intend to actually build a prototype system using blockchain technology and conduct proof-of-concept testing.“

NTT DATA will be working with Orb Inc, a blockchain developer based in Japan, to study distributed ledgers from the viewpoint of “systems and technology”.

ORIX, ORIX Bank and Shizuoka Bank, are planning to focus their efforts on the applications of blockchains to a variety financial services – paying special attention to remittance uses case –  that their clients may benefit from.

NTT DOCOMO Ventures – which was established in 2008 to invest in promising technology startups – will be working alongside the other firms and will be assisting with a variety of tech-oriented contributions.

Related Post

The released also mentions that the five Japanese firms will interface with other outside companies to investigate blockchain-based business solutions.

“The companies also plan to work with partners from various industries to investigate applications to services using blockchain technology in fields of business besides finance.“

Mori Hamada & Matsumoto, a prominent law firm based Tokyo with offices across Asia, will be assisting the initiative with legal advice and financial particulars.


Image credit: 1

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Published by

Recent Posts

Liquid Craft NFTs: The Dragons & Bourbon Series

Liquid Craft - aiming to implement a new concept for blockchain technology and the traditional…

53 mins ago

Top 5 Metaverse Coins to Buy on

Metaverse coins are all the hype in crypto these days. As traders are looking to…

14 hours ago

Decentraland Price Up 25%, Market Cap About to Surpass the #1 Metaverse Project

Decentraland price is up over 25% today, making it the biggest gainer on With…

20 hours ago

3 Awesome Meme Coins You Probably Haven’t Heard Of

With the absurdly high amount of different meme coin projects on the market, it's hard…

21 hours ago

Why Decentraland Is the Best Metaverse Project on the Market

We've been covering a wide variety of metaverse coins the last couple days. There are…

1 day ago

Ushering in a Brand New Ecology in Game: How Does HashLand Become a Vanguard to Guarantee Floor Value?

For some time in the past, Gamefi was criticized by many people as a lofty…

1 day ago

This website uses cookies.