Sumitomo Mitsui Trust Bank Test Blockchain

In a continuation of the BlackKain trial, Japan's largest bank is working with IBM.Sumitomo Mitsui Trust Bank Limited has today announced that it is investigating applications related to money, real estate and property purchases.Sumitmo Mitsui, a member of Trust Bank Robi Blockchain Consortium, joined this group last December. Earlier this year, the bank announced that it is partnering with some Japanese companies, including the Kiski University based in Osaka, the Appliance Research of Technology. Today's announcement proposes that the study inspired the bank to create prototype as well as IBM Japan and domestic IT firms NC Corporation.The bank said in a statement:

"The experiments work to assess the effectiveness of the use of revolutionary IT technologies for evaluation of probability and the dramatic improvement or consolidation of existing services and operations."

The bank further said that it will work with a joint venture between SBI Holdings and Replus in the Border Remittance Examination using technology. Sumitmo Mitsui Trust Bank has said that in the long run, "It is expected to create new remittance / settlement services using blockbay technology".