Bitcoin, Crypto currency, Blockchain

Japan’s largest Bank in the world “to develop the fastest and most scalable Blockchain platform”

13f0c4a9bae650beef2c1abd2e3ce680 - Japan's largest Bank in the world "to develop the fastest and most scalable Blockchain platform"

The MUFG Bank, Japan’s largest Bank, has announced the development of a Blockchain platform with Akami Technologies to work together. The project will go until the end of this year, in the test phase with selected individuals in practice will be tested.

The MUFG Bank has announced in a Press release that, in cooperation with the Massachusetts-based Akami Technologies, a platform is to be developed, not only for crypto-currencies, but also for the IoT and other technology should be compatible.

A possible usage scenario is the use by the MUFG Coin. The MUFG Coin to be the “In-House crypto-currency” of the Bank and the value exchange between different stakeholders to accelerate and reduce the cost.

Through this partnership, a cloud-based Blockchain should be built on the platform, which is the world’s safest and skalierbararste block chain solution. Up to a Million transactions per second can be processed (freely translated):

We (MUFG Bank and Akami Technologies) to develop a common platform that provides grants to the world’s most scalable and fastest transaction processing with the potential to process one Million transactions per second.

The pilot project will initially be about 100,000 volunteers Piloprogrammteilnehmern and step by step extended start.

According to local media, can apply to the account holder of the Bank for the program. This is intended to give an App the converts of the capital employed in the new digital currency MUFG Coin.

It will be exciting to watch whether the ambitious goals can actually be achieved.

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