On July 17, the Japanese company GMO Internet Inc., launched a new Internet banking service. It will use the blockchain technology. The distributed ledger will be a key technological element of the new service, but in addition to the blockchain, the system will use artificial intelligence and the Internet of things. Work on the project has been carried out since July 2016, and since then the team has managed to attract investors from GMO Internet, GMO Financial Holdings and Aozora Bank. As the company says, the new service in the future can significantly increase the value of the corporation. It has been reported that both corporate and private clients of GMO will be able to use the new Internet Bank. It is mainly focused on e-Commerce businesses and adapts the main services to them: deposit operations and currency exchange. The service will also offer products of partner companies dealing with securities. The decision to use blockchain technology in its new product is no coincidence for GMO. Earlier, the company invested in cryptocurrency and blockchain startups, and last year launched its own crypto-exchange GMO Coin. In addition, one of the GMO focus areas is industrial mining: in 2017 the company had opened a farm in Europe, and then engaged in the mining equipment creation. In particular, it has developed 7-nanometer chips. In July, GMO introduced a new mining machine for ASIC bitcoin, built on these chips. |
