Japan Exchange Group, Inc. (JPX) today announces a collaboration with IBM Japan on blockchain technology tests.
The two companies have agreed to jointly start running proof of concept (PoC) tests for blockchain, or distributed ledger, technology.
JPX notes the increased attention that blockchain technology has gained worldwide as one of the most promising Fintech aspects that could be applied to constructing shared infrastructure to provide high availability and reliability at low cost. However, JPX concedes that there are issues to be resolved in the technology, and it will need to be continually verified and enhanced ahead of its actual application in financial business operations.
The PoC tests that JPX and IBM Japan will conduct will assess the limits and possibilities of the technology in markets that have low transaction data volume using the framework provided by the Hyperledger Project.
The Hyperledger Project is a collaborative effort established to advance blockchain technology. The Project is a Linux Foundation Collaborative Project and implements many open source best practices familiar to other leading projects.
The official announcement can be viewed by clicking here.