The Bank of Tokyo-Mitsubishi UFJ and tech giant Hitachi are now working on a blockchain proof-of-concept aimed at e-check management.
Hitachi said in a statement:
The project's disclosure comes months after Hitachi announced the formation of a R&D laboratory focused on FinTech, including blockchain. At the time, the firm had only recently become a member of the Hyperledger project, the Linux Foundation-led initiative focused on commercial blockchain applications.
The Bank of Tokyo-Mitsubishi UFJ has invested notable resources already in the blockchain industry, investing in Coinbase and taking part in a series of trials based on the technology.
Digital check image via Shutterstock
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