IT Giant Fujitsu Joins Major Banks for Blockchain Money Transfer Pilot

IT Giant Fujitsu Joins Major Banks for Blockchain Money Transfer Pilot

Japanese IT giant Fujitsu and three major banks have announced plans to pilot a peer-to-peer money transfer system built with blockchain technology. In partnership with Mizuho Financial Group, Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group, Fujitsu will field trial a cloud-based blockchain platform for sending funds between individuals, as well as a smartphone app to increase the usability of the system. In theory, the platform would link customers’ fiat accounts at the three banks to the blockchain system. They would then be able to use the app to send money, as well as making deposits and withdrawals. […]

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