SBI Sumishin Net Bank announces successful blockchain trial

Blockchain | April 20, 2016 By:

SBI Sumishin Net Bank has conducted a 3-month long blockchain experiment in collaboration with Singapore Fintech startup Dragonfly Fintech and Japanese blockchain solutions provider Tech Bureau Corp, developer of Mijin, which saw distributed ledgers replace their actual ledgers.

According to the translated press release on Mijin’s blog, the experiment – which was hosted on blockchain-based systems provided by Mijin – simulated an operating environment with 2.5 million bank customers capable of doing 90,000 transactions per hour.

“6 nodes was set up in AWS, fault tolerance and availability were tested, and it was confirmed that everything went smoothly,” said Mijin.

SBI Sumishin Net Bank is an internet based consumer bank in Japan.