The Mitsubishi UFJ Economic Group (MUFG) has partnered with main U.S.-based cloud shipping system Akamai Systems to launch a global payment network based mostly on blockchain, Cointelegraph Japan stories now, Could 21.
Akamai, a Massachusetts-centered organization, was in a position to test the blockchain system “under realistic organization situations,” exhibiting a functionality for processing a million transactions per 2nd and a ability for finalizing transactions in under two seconds, in accordance to MUFG’s official press release.
Tokyo-based mostly MUFG’s and Akamai’s payment network, which will go live setting up in the 2018 fiscal yr, will include an interface that features as a conversation network, and will allow Internet of Things (IoT) payment strategies like pay back-for every-use and micropayments.
Very last week, MUFG’s banking unit – the world’s fifth major lender by overall property – announced that it designs to trial its individual cryptocurrency, the MUFG coin, by 2019. The lender has experienced designs to create its possess cryptocurrency given that as significantly again as 2016.