Japan's largest IT services firm, NTT Data, has announced a new consortium aimed to investigate use cases for blockchain technology.
According to the company, the initiative so far includes 13 different companies drawn from the financial, logistical and trade industries.
Notable participants include Mizuho Financial Group, Mitsu Sumitomo Insurance, Nippon Express and Sojitz Corporation. The Bank of Tokyo-Mitsubishi, Toyota Tsusho and Kawasaki Kisen Corporation, and others, are also involved.
The effort, which will officially launch on August 30, is expected to run through next spring.
The announcement comes during a period of building momentum for blockchain development in Japan, which has even seen government agencies test the use of smart contracts.
NTT Data image via YouTube/SAP SuccessFactors
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