IBM and Bank of Tokyo-Mitsubishi UFJ launch blockchain partnership

SINGAPORE (Sept 16): IBM is working with the Bank of Tokyo-Mitsubishi UFJ (BTMU) to explore the use of blockchain technology in creating and managing business contracts and transactions.

The two partners hope to eke out efficiency by automating processes such as invoicing and payment.

“Blockchain technology has the potential to change not only the financial world, but also other areas of the business world, leading to improved efficiency of the end-to-end business process,” says Motoi Mitsuishi, Deputy Chief Executive Officer of BTMU Asia & Oceania and General Manager, Singapore Branch and Corporate Banking Division for Asia & Oceania.

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