ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Fujitsu, Mitsubishi, Mizuho, and Sumitomo To Test Blockchain-Based Mobile Payment System




Fujitsu and three major banks in Japan have combined efforts to test a blockchain-based peer-to-peer payment program.

On October 10, 2017, Japanese communication giant Fujitsu, in conjunction with major banks Mitsubishi UFJ Financial Group Inc., Mizuho Financial Group Inc., and Sumitomo Mitsui Financial Group, announced a joint field trial for testing a peer-to-peer transaction system, backed by blockchain technology.

The preliminary trial will be scheduled to run January through March 2018, after the trial system is built. Work on the system began in September and is expected to continue until December 2017. According to the announcement, "Fujitsu will develop a cloud-based blockchain platform for money transfers between individuals that can be jointly used by these three major banks, as well as a smartphone application that allows users to easily handle the different steps for sending money and for making deposits and withdrawals."

A diagram provided by Fujitsu outlines the details of the field trial:

Fujitsu and the banks seek to test the viability of a money transfer system with blockchain provenance protocols in specific terms of security, clearing and settlement, and transaction load capacity by integrating a mobile application for smartphones. The trial will also evaluate user friendliness and practical functionality.

Japan has already been the site of innovation in blockchain technology, where the Japanese Financial Services Agency approved 11 exchanges to trade in cryptocurrency. The continued efforts of institutions within the island nation will likely be fostered by the relative acceptance of state officials.

Jeremy Nation

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Fujitsu, mobile payment or other Ethereum application news.