Dragonfly Fintech Cuts Blockchain Deal with Nomura Research Institute (NRI) SBI Sumishin Net Bank

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Fintech startup, Dragonfly Fintech (DF), has signed a Blockchain research contract with the leading Japanese think tank and systems integrator Nomura Research Institute (NRI) in conjunction with the Japanese SBI Sumishin Net Bank. The purpose of the contract is to assess a core component of DF’s blockchain technology for financial use. The pilot solution with NRI and SBI Sumishin Net Bank will mark a new milestone for blockchain technology by using the DF blockchain technology to provide practical financial solutions. This pilot will position DF, NRI, and SBI Sumishin Net Bank as global leaders in using innovative blockchain technology.

DF has been working to provide practical solutions for banks, under the framework of its Automated Clearing and Electronic Settlement (ACES) initiative. ACES aims to create a low-cost next-generation electronic monetary system for banks, and this includes providing tools to meet compliance requirements. As part of ACES, DF has been developing advanced blockchain – distributed ledger – solutions for financial institutions based on its patent-pending business method, and Tech Bureau’s Mijin high-throughput NEM blockchain engine. Developed from the ground up, the NEM blockchain features tools to easily create digital assets and manage account security using multistage approvals. Additionally, the DF system provides a robust financial transaction recording solution with high availability and security.

Dragonfly Fintech Pte Ltd, a Singapore-incorporated financial technology company, is a participant of the Open Network Lab incubation program run by Digital Garage Incubation, Inc., of Japan. The founders areLon Wong and Makoto Takemiya. Lon Wong is a serial technopreneur, and inventor of a patent-pending fintech business method. Makoto Takemiya, a PhD candidate at the University of Tokyo, is a core developer of NEM.

ACES is an innovative, distributed, and decentralised blockchain system capable of handling high-throughput required by global payments, clearance, and settlement systems. The ACES solution provides the financial industry with a new and efficient global standard for “direct payment”. Further, and to satisfy regulatory compliance and governance, it has a multistage approval capability which can be executed concurrently or in series, and ubiquitously in a peer-to-peer network. Using its patent pending method for digital currency, it converges existing payment methods into a simple multi-currency payment network – a “settlement upon transaction” platform. Here’s a paper on their technology.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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