SBI partners with Japan Payment Card Consortium on Blockchain System

SBI partners with Japan Payment Card Consortium on Blockchain System to Fight Fraud

SBI Ripple Asia, a sister collaboration of Ripple, has signed a new partnership agreement with the Japan Payment Card Consortium (JPCC). The partnership aims to fight against frauds with Proof of Concept (PoC) technology on blockchain System.

TIS, an IT services provider, will build a secure and scalable information sharing system for the PoC.  The PoC system will utilize Corda, R3’s blockchain platform, because of its data privacy and security set-up. TIS is also a member of the R3 consortium. 

The JPCC consists of nine major payment card groups within Japan. American Express, Credit Saison, and Toyota Finance are few of the members who are a part of the consortium. Moreover, sources have claimed that this will give a boost to the blockchain trend in the mainstream financial industry.

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