Blockchain for International Trade Created By Bank of Tokyo-Mitsubishi UFJ, NTT DATA

Blockchain, FinTech | December 7, 2017 By:

The Bank of Tokyo-Mitsubishi UFJ and Japanese system integration firm NTT DATA have announced a blockchain proof-of-concept (PoC) aimed at reducing the mountains of documents involved in cross-border trade between Singapore and Japan.

The PoC will link Singapore’s National Trade Platform (NTP) with a distributed ledger system being developed by a Japanese blockchain consortium led by NTT Data and the Mitsubishi UFJ Financial Group banking unit.