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Mizuho Announces Blockchain Trial For Syndicated Loans

Mizuho Financial Group, one of the leading financial institutions in the world, has been involved in the blockchain space for quite some time now. The financial services giant joined the R3 blockchain consortium last November, and recently collaborated with Cognizant to develop blockchain solutions.

“We deepen understanding of these advanced technologies through this experiment, and aim to create the new service models which bring financial innovation”, he said

According to recent reports, Mizuho has announced a second blockchain technology trial to be focused on syndicated loans. For the project, the company is joining forces with Information Services International-Dentsu (ISID), blockchain startup Currency Port and Microsoft Japan Co, the local subsidiary of the US tech giant, CoinDesk reported.

ISID has been focusing on blockchain research. It will bring its extensive experience to the trial and verify the applicability of the blockchain technology to the banking business. ISID corporate communications officer Kayoko Lee told CoinDesk that the project is still in early stages, as the partners seek first to “verify the applicability” of the technology to the post-trade process using Microsoft’s blockchain-as-a-service (BaaS) offering.

Currency Port provides multi-currency support for “over-the-counter settlement” and as offers a variety of API for “person-to-person money transfer”, “currency exchange”. It has been conducting in-house study sessions based on blockchain technology and has been participating in various blockchain-based seminars and events.

Microsoft Japan offers Azure Blockchain as a Service (Azure BaaS) to support the development of solutions using the blockchain technology in the cloud platform Microsoft Azure, the press release said.

Richard Kastelein
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, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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