Fujitsu has developed a blockchain - based platform which enables fast interbank settlements . The platform will now be developed by the Japanese Payments Clearing Network , a group of nine banks in the country seeking to test the technology to determine its viability for small - scale transactions which use a gross payment method in real time . Fujitsu 's peer - to - peer money transfer platform , which produces the money transfers which trigger the settlements , will also be trialled as part of the platform .
Fujitsu has developed a blockchain-based system which enables fast interbank settlements. The platform will now be trialled by the Japanese Payments Clearing Network, a group of nine banks in the country seeking to test the technology to determine its viability for small-scale transactions which use a gross settlement method in real time. Fujitsu's peer-to-peer money transfer platform, which produces the money transfers which trigger the settlements, will also be trialled as part of the agreement.