GMO Internet: birth of a "new generation" bank based on Blockchain technology

The Japanese digital services company GMO Internet is launching a new banking entity. It is considering exploiting the possibilities offered by the use of the large distributed register to simplify the payment process.

Settle payments with Blockchain

GMO Internet works in collaboration with Aozora Bank Group. The two companies are developing the Web bank, called GMO Aozora Net Bank since mid-2016.

The main objective of the "new generation" bank is to provide financial services through the integration of new financial and IT technologies into the existing system. The initiative is based on certified security measures, Blockchain, Artificial Intelligence (AI) and the Internet of Things.

According to GMO Aozora Net Bank's announcement to the press:

"The partnership with GMO Internet aims to develop a new settlement system using Blockchain technology. "

The bank added:

"Through the application of Blockchain technology, we expect growing developments in the area of ​​safer and cheaper payments and financial services. "

"A banking platform"

GMO Aozora Net Bank hopes to become a "banking platform". The latter makes its payment infrastructure available to other companies as part of a "white label" licensing system.

The launch of the financial institution marks GMO's latest Blockchain initiative . He created his own crypto-currency exchange service in 2017 and started mining in Bitcoin in September.

An announcement last month reported a mining Bitcoin from October 2018 . It would be the first company in the world to focus on 7nm chip technology .

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