Trial of Japan-Korea Blockchain Payment System Set to Start on Friday

[kreslik.news]

In an official statement, Japanese and South Korean banks have announced that they will begin the anticipated testing the blockchain technology with US blockchain development firm Ripplenet this Friday.

With this project, all parties are aiming to achieve same-day international fund transfers along with transaction costs cut by around 30 percent.

The 61 Japanese banks participating in this trial will be led by SBI Ripple Asia, a subsidiary of Japan’s SBI Holdings, while the Seoul-based blockchain solution provider DAYLI Intelligence will lead the South Korean counterpart. Many Japanese financial institutions will be involved in the tests, including renowned Japanese firms like Sumitomo ... (read more)