Mitsubishi UFJ is set to launch a Blockchain based online payment network that is capable of processing more than one million transactions per second.
The bank has partnered with one of the world’s largest cloud delivery platforms, Akamai Technologies, to secure the cloud security of the payment network.
The network, which is scheduled for delivery by 2020, is designed to meet the growing need for more secure and efficient transactions in the financial industry.
'We have high expectations for our partnership with Akamai to provide customers the ability to support significantly greater volumes of high-speed payment transactions without compromising the level of security required for payment networks,” said President and Group CEO of #MUFG Nobuyuki Hirano.
The Akamai Intelligent Platform has been designed to improve scalability, reliability, performance and security.
The network will offer support for current payment processing, pay-per-use, micropayments and additional emerging Internet of Things enabled payment transactions.
