A Japanese company completed Japan-Australia trading on Blockacin

A Japanese company completed Japan-Australia trading on Blockacin

Completion of trade exchanges between Japan and Australia is Blockacin platform

Mizuho, ​​a large Japanese banking investor, has completed the financial dealings between Australia and Japan on Blockacin, and details.

Mizuho, ​​one of the 3 cloud banks in Japan, completed a pilot test plan by sending a shipment of Japanese export items to an Australian importer. The Fin One section of the banking group noted that "All steps involved in issuing credentials to delivering business documents on a digital platform, using BlockChin. "The deal also included the Japanese insurance company Sompo and the Marubeni business group.

Reducing the time it takes to deliver business documents from a few days to about 2 hours is a significant advantage that has led to lower costs due to document digitization. The main feature of BlockChin technology is increased transparency, which, as an advantage, gives an instant display of a clear image of the contract, traded on both sides.

One of the obvious obstacles is that the transaction information can not be sent to members who have not yet executed or not complied with the blockade. Meanwhile, Mizuho referred to the importance of introducing blockados to international standards.

"In Mizuho's project on manufacturing and trading, the Mizuho Group is looking to build a commercial and practical blockachine business with added value, and technology with a high level of customer orientation will be enhanced," the banking group added.

Like the rest of its Japanese counterparts, Mizuho has tested Blockacin in the past. The result of a 3-month blockade security experiment in February 2016 showed that "It's practically impossible to manipulate the history of exchanges," while the 3-day period to provide security in international exchanges fell the same day.

Mizuho, ​​as a specialist at Bitflyr, Japan's largest Bitcoin trading center, completed its digital currency test earlier this year. The banking group with IBM's giant IBM partnered to produce digital currency in mid-2016. In December, the bank showed a real experience in paying for party dinners in a restaurant using its digital currency.

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