the Japanese Payments Clearing Network has developed a blockchain-based system which enables fast interbank settlements. The platform will now be trialled by Fujitsu, 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. the Japanese Payments Clearing Network'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.
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.