On April 25, 2016, the Blockchain Collaborative Consortium (BCCC) was established with 34 member companies. The BCCC has since expanded by an additional 75 leading companies, including conglomerates such as Mitsui Sumitomo Insurance, Aozora Bank and Awa Bank, Marubeni, Gurunavi, and NCR Japan, reaching a membership total of 109 as of December 15, 2016.
Growing interest in blockchain technology has attracted such an increase of inquiries from financial institutions to the BCCC that the decision was made to inaugurate the Financial Services Subcommittee in March 2017.
The Financial Services Subcommittee of the BCCC Promotion Committee will function as a forum for the consideration and advancement of blockchain application solutions that support financial service operations. Activities will target the financial services industry and spread awareness of blockchain technology. This will include gatherings for regularly scheduled study sessions, information sharing among subcommittee members, and the disbursement of technical advice from BCCC member companies who use blockchain technology.
In addition, the BCCC plans to introduce more industry focused subcommittees in the near future. According to the release:
“Going forward, the BCCC will also be developing measures and policies through its committees. It will continue hosting Blockchain Daigakko seminars and an educational program for blockchain technology as well as various seminars for the general public, engineers and mass media. Subcommittees specialized in industries and themes are also scheduled to be inaugurated. The BCCC will consider and promote the practical application of blockchain technology in accordance with the needs of various industries and themes.”