Hitachi , working together with partners of Tokyo - based UFJ , has developed a prototype online cheque payment system based on demand . Although demand for these systems is low in demand , the partnership has identified growth opportunities in the wider Asian market : successfully completing 60 % of its payments via cheque . Thus , trials for the group ’s payment system begun in the country today , with hopes to commercialise it in earnest at the earliest .
Hitachi, working together with Bank of Tokyo-Mitsubishi UFJ, has completed a prototype online cheque payment system based on blockchain. Although demand for these systems is low in Japan, the partnership has identified growth opportunities in the wider Asian market: Singapore completing 60% of its payments via cheque. Thus, trials for the group’s payment system begun in the country today, with hopes to commercialise it in 2018 at the earliest.