Japanese Brokerages to find use of Cutting-edge Blockchain Technology
Japanese based brokerages are initiated a consortium which would be solely dedicated to hoisting up the process of a could-happen blockchain technology adoption and other technology of the same industry with target to deliver better services to users.
In the group, founding members were online figures like Rakuten Securities, SBI Securities, and convential brokerages like Daiwa securities and Nomu.
SBI Holdings unit SBI Ripple Asia will be the lead organizer for the group. It will hold one or two working meetings a month, as well as carry out proof-of-concept tests on cutting-edge technologies. The group aims to cut costs through industry-wide cooperation.
More in depth – the project is looking more specifically in a shared-log structure for brokerage accounts for the users which applies biometrics and various personal identification information.
The development could be of great benefit for retail investors, from which moment they would not need to input personal information every time they want to open a new account.
SBI Ripple Asia has also launched consortiums in the past for the use of blockchain and other cutting-edge technologies in the banking and credit card businesses.