The giant of the delivery in the cloud, Akamai, and the biggest bank of Japan, announce a network of payment Blockchain

The Mitsubishi UFJ Financial Group (MUFG) has partnered with the main US-based cloud delivery platform. UU Akamai Technologies, to launch a global payment network based on blockchain, reports CoinTelegraph Japan.

Akamai, a Massachusetts-based firm, was able to test the blockchain platform "under realistic business conditions", showing a capacity to process one million transactions per second and a capacity to complete transactions in less than two seconds, according to the official press release of MUFG.

The payment network of MUFG and Akamai, based in Tokyo, which will start operating in fiscal year 2018, will include an interface that functions as a communication network and will allow Internet payment methods of things (pay per use) and micropayments.

Last week, the banking unit of MUFG, the fifth largest bank in the world for total assets, announced that it plans to test its own cryptocurrency, the currency MUFG, by 2019. The bank has planned to create its own cryptocurrency since 2016.

Cryptocurrencies are close to reality

As we have seen in different posts, several banks around the world are conducting research and innovations to create a payment system using cryptocurrencies.

The problems associated with these would be to validate the possession of said cryptocurrencies, the value thereof and a platform that can accept both digital and fiduciary money.

Although these problems are only an obstacle to sleep, but not an impediment, as we can see Japan is at the forefront of these projects, obtaining more than positive results in their tests.

Something curious to observe is how was the perception of Japan a few months ago, in the boom of regulations.

Future projections

It is estimated that for this year the first payment of cryptocurrencies can be made using a physical card, associated with the savings / current account of the users.