According to the Asahi Shimbun paper last week, Mitsubishi plans on unveiling the currency next year. There have been a number of reports about the financial institution testing its own blockchain solutions but according to Reuters, the project is well on its way. MUFG has not stated anything, although the spokesperson of the bank told the news outlet that there were quite a lot of rumors floating around the press.
However the firm had this to say in an emailed statement to Reuters:
Concerning the speculation in media reports, these reports aren’t based on any statement by MUFG, and the details have yet to be decided. But, we could say that it’s true that MUFG is currently conducting demonstration experiments on the’Coin’ within the company.
Some reports have said that Japanese users will be able to tether their bank accounts to a program to use and receive the»MUFG coin.» According to Asahi Shimbun, prices are said to be one MUFG coin to 1 yen and the machine will be similar to the popular Japanese e-commerce currency Suica and bitcoin casino us voucher code. The newspaper has said that users will be able to remit the cryptocurrency with very low prices attachedzigzag777 rating Alongside this information provided by the editorial, MUFG coins may get ATMs allowing purchasing the digital currency .
Mitsubishi UFJ Financial Group is one of the banks that is also a known member of the R3 CEV consortium. The company has been working with the company Chain in a partnership revealed on the corporation’s blog. The two businesses were working on a project that»immediately and safely issue, transfer, sell and redeem Promissory Notes at a natively digital medium.» Satoshi Murabayashi, mitsubishi UFJ Financial Group CIO, stated:
We are happy to be working with Chain to explore the application of next-generation financial infrastructure that we believe could significantly improve the experience for our customers.
The Japanese company has its aims set on digital and blockchain currency solutions. It’ll be interesting to hear about how immutability and other features associated with most cryptocurrencies are offered by the project. However, the company doesn’t have any interest in the original cryptocurrency Bitcoin, Naoki Taniguchi, a global innovation expert at The Bank of Tokyo-Mitsubishi UFJ Ltd told Reuters last year in San Francisco.
«It is all about the blockchain,» he said.
What do you think about Mitsubishi producing its own cryptocurrency? Tell us in the comments below.
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