Japan Mega banks Kill Joint Blockchain Money Transfer Project, Turn to Their Own Cryptocurrencies

Japan biggest bank cancelled the association with Blockchain Money Transfer project and soon plan to launch own cryptocurrencies. The only reason behind it to make a reliable cryptocurrency and monitor the market uncertainty.  The three major bank of Japan including Mitsubishi UFJ Financial, Mizuho Financial Group and Sumitomo Mitsui Financial Group club-up to launch the new cryptocurrency. This joint initiative help customers to receive and send funds by using email address or particular mobile numbers thru virtual accounts which associated or connected to their physical bank.

The Japanese tech gain was responsible for the development of the blockchain solutions. The project is basically designed with the help of cloud technology so that you can make easy transfer to your client accounts. The main motive of this project is to connect two bank accounts with third one and cloud server as well. Some of the ingenuities the economic institutions are responsible and which would have competed with the combined venture contain the development of cryptocurrencies. Other than working on own cryptocurrencies the Japanese monetary institutions have also joined other world-wide blockchain initiatives.

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