Japanese Banks Unite to Launch Blockchain Finance Platform Services

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Five Japanese banks have collaborated to launch blockchain-based financial services infrastructure, the finance platform confirmed in a press release on March 1.

Bank of Iwate, Bank of Yokohama, Aomori Bank, Akita Bank and Yamanashi Chuo Bank will work together on the platform, dubbed “Fitting Hub.” The first service available on the platform — electronic delivery service — should launch in April, the press release notes.

Previous information had given a timeline for testing to begin in July 2018 and full deployment within a year, as local news agency Nikkei reported in late January 2018, when the partnership first surfaced.

Targeting a range of financial operations for efficiency improvements, the banks will leverage IBM’s expertise during the development phase.

The IT

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