The use of blockchain technology has led to cooperation between the Bank of Japan and the European Central Bank. What are the prospects for such a union?
The Bank of Japan and the European Central Bank have merged.
The Bank of Japan and the European Central Bank have announced the start of cooperation. The main reason for such an alliance should be a more active use of blockchain technology. To this end, the banks of Japan and the EU decided to open a joint research project. The latter, in turn, should find options for using distributed ledger technology in the infrastructure of financial markets. The first results of the research project should appear next year.
Using blockchain before.
Japan has long been active in the use of blockchain. And both in government projects and in the corporate and banking sector. Most recently, the Japan Clearing Corporation (JSCC), the Tokyo Stock Exchange (TSE) and the Osaka Stock Exchange (OSE) joined the consortium of financial institutions in Japan, which was created to test blockchain technology.
Europe has not been particularly active in the application of this technology lately. The main reason is the cool attitude of most Europeans to bitcoin, which set the tone for the blockchain. However, the blockchain can work with all cryptocurrencies and, most likely, it was this factor that became the key factor in the ECB’s decision.
The Central Bank announced the start of cooperation.
