U.S. firm for cloud delivery services Akamai announced the partnership with Japan’s largest bank (MUFG) to implement an international payment platform that is based on the blockchain technology.

Akamai, a Massachusetts-born company, had an opportunity to test the blockchain technology, using the realistic business and working conditions. The results of such a practice showed, that the firms are capable of processing a million blockchain transactions per second and the scope for finalizing transactions within the timeframe of two seconds in according to MUFG’s official press release on May 21.

Tokyo-established MUFG’s and Akamai’s blockchain payment network is planned to go live in 2018. It will include the new interface for communication and will provide the interested parties with the usage of payment methods such as pay-per-use and micropayments.

Previous week MUFG announced an interest in creating its own cryptocurrency by the name, the MUFG coin, in 2019. The bank has been planning to invent the coin of their own since 2016.

Sources:

https://cointelegraph.com/news/japans-largest-bank-and-cloud-delivery-giant-akamai-announce-blockchain-payment-network

 https://www.mufg.jp/english/vcms_lf/news/pressrelease-20180521-002-e.pdf