Japanese IT-giant NTT Data has created a new block-consortium

One of the largest IT companies in Japan, NTT Data, announced the creation of a consortium to explore the feasibility of using distributed registry technology. This is written by CoinDesk.

To date, the consortium has included 13 different companies from the financial, logistics and trade industries. Among them: Mizuho Financial Group, Mitsu Sumitomo Insurance, Nippon Express, The Bank of Tokyo-Mitsubishi, Toyota Tsusho and Kawasaki Kisen Corporation. The official launch of the consortium will take place on 30 August.

As the newspaper writes, NTT Data has already completed pilot testing of various blocking solutions for the banking industry. In particular, the company successfully tested the capabilities of the distributed registry technology for working with letters of credit, and also established cooperation with insurance companies to further develop solutions based on the blockbuster.

Recall that last year the Consortium of Japanese Banks was established to study the technology of blockhouses, which included both regional financial institutions and large players like SBI Holdings, Bank of Yokohama, SBI Sumishin Net Bank and Mizuho.