cryto

blockchain

Japanese Internet Giant to Adopt Blockchain in New Banking System

GMO Internet Inc., a Japanese internet services firm, has recently introduced a new internet banking enterprise that focuses on the use of blockchain in its core technology.

Since 2016, this pipeline project has been ongoing through the ‘GMO Aozora Net Bank,’ where the joint investors include GMO Internet, GMO Financial Holdings, and Aozora Bank.

As previously announced, the blockchain will be featured as a key element of the new partnership, along with sophisticated technologies, involving artificial intelligence (AI), and the Internet of Things (IoT).

GMO noted this new endeavor has a high potential to advance corporate value in the future.

Finance Feeds reported the new banking strategy will be available to GMO’s corporate and retail clients. This involves core banking services like deposits and exchange for e-commerce enterprises and providing products created with partner securities companies.

The Tokyo-based internet provider noted ¥43.705 billion ($387.5 million) was recorded in net sales in Q1 2018, up by 17.5% from last year.

GMO’s move to improve the blockchain technology at the core of its new internet banking system is keeping with its significant investments in the crypto and blockchain sphere.

Previously, it has started operating its own GMO Coin crypto exchange, a huge mining operation, and began paying partly the staff payslips using Bitcoin (BTC).

In March this year, GMO Coin noted it will enhance its data security after its local regulators found its shortcomings in a cross-industry investigation after the high-profile $530 million hack of Coincheck, a Japanese exchange, in January.

Just recently, the firm said it will be launching ‘CryptoChips,’ a Bitcoin-based application for in-game rewards sometime this August.

Related Posts

Leave a Reply

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

HOT TOPIC

Pattaya City Deputy Mayor Discussing Partnership and Government Support for CoinAdvice Conference Scheduled to be Held on March, 2019In, , , ,
Pattaya City Deputy Mayor Discussing Partnership and Government Support for CoinAdvice Conference Scheduled to be Held on March, 2019
February 22, 20190
blockchainIn, , ,
Bitcoin Approaching Bottom, Institutional Money may “Explode Crypto”, as per Dollar Vigilante
January 14, 20190

LITECOIN NEWS

In, , ,
Cryptocurrency Mining Startup Planning to Return Money, Raised $68 Million During ICO
February 21, 20190
In, , ,
Tesla Doesn’t Intend Involving With Crypto, Says Elon Musk
February 21, 20190


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin3,934.39 0.17 % 1.01 % 10.08 %
Ethereum146.50 0.29 % 1.79 % 21.32 %
XRP0.317 0.37 % 0.02 % 6.63 %
Litecoin48.94 0.35 % 0.74 % 16.00 %
Bitcoin Cash142.14 0.64 % 0.68 % 17.89 %