Following closely on the heels of the announcements made at the recently concluded Ethereum conference DevCon2, several tech giants have made new steps into integrating blockchain technology for their unique situations. To increase efficiency and lower costs, more companies are seeing the advantages that utilizing blockchain technology can yield.
Tokyo’s largest bank, The Bank of Tokyo-Mitsubishi UFJ (BTMU), in partnership with IBM, will be implementing blockchain technology as a means to handle internal documents in the Asia-Pacific region, starting next year. The operation will commence by first digitalizing contract signing on the blockchain for the bank’s internal work orders. Serving as a proof concept which is being worked on in Singapore, it is expected to be complete by March of 2017.
The project between IBM and BTMU is one of the first to be based on fabric,