Fintech and Blockchain: The impact on Japan’s IT services sector
A recent report by Merrill Lynch, a subsidiary of the Bank of America, is telling about the impact of blockchain based fintech technology on Japan´s IT servicing Sector.
Highlighted blockchain technologies are Bitcoin, Ethereum and very especially NEM and its private-chain Mijin.
According to the report, Mijin is suited for: “a wide variety of large-scale, sophisticated systems..”
and could: “including point program services, account settlement, on-line gaming, mileage programs, insurance, and transactions at financial and government institutions..”
The NEM project itself is described as: “a next-generation blockchain project that natively supports Multisignature accounts, Namespace (used to manage multiple assets), and Mosaic functionality, all of which are blockchain-based technologies utilizing APIs for easy handling..”
This confirms what many followers of NEM already knew for long, that NEM is an awesome technology, which will change the IT world for good.
To read the full report in english, click here. For Japanese, here.
NEM is an innovative blockchain technology project - a peer-to-peer crypto platform. It is written in Java and JavaScript with 100% original source code. NEM has a stated goal of a wide distribution model and has introduced new features in blockchain technology in its proof-of-importance (POI) algorithm. NEM also features an integrated P2P secure and encrypted messaging system, multisignature accounts and an Eigentrust++ reputation system.
NEM has gone through extensive open alpha testing starting June 25, 2014, followed by lengthy and comprehensive beta testing starting on October 20, 2014. NEM finally launched on March 31, 2015.
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