Japan’s GMO Internet to Use Blockchain in Its New Online Banking Business
By Marie Huillet Japanese internet services giant GMO Internet Inc. has today launched a new internet banking business that will leverage blockchain as a central part of its technological arsenal. The news comes from a company announcement Tuesday, July 17. The project has reportedly been in the works since July 2016 via the ‘GMO Aozora Net Bank,’ in which GMO Internet, GMO Financial Holdings and Aozora Bank are joint investors. According to today’s announcement, blockchain will feature as a key component of the new venture, alongside other cutting-edge technologies such as artificial intelligence ( AI ) and Internet of Things ( IoT ). GMO says it believes the new venture has “a high potential for increasing corporate value in the future.” According to Finance Feeds , the new banking strategy will be open to GMO’s corporate and retail clients, tailoring core banking services such as deposits and exchange for e-commerce businesses, as...