NRI Partners with JPX for Second Proof of Concept on Blockchain, Focus on Securities

Nomura Securities, SBI Securities and Mitsubishi UFJ are among the firms that will also assist the project.

Photo of a Tokyo street scene

Nomura Research Institute (NRI), a consultancy and technology provider headquartered in Tokyo, announced it will launch the second phase of its blockchain proof of concept in collaboration with the Japan Exchange Group (JPX).

The second test of blockchain technology will focus on its use in the securities market. Nomura Securities, SBI Securities, Mitsubishi UFJ Financial Group, among others, will help with the proof of concept.

The firms will look at business scenarios and validation items and create prototype systems based on those scenarios. Currency Port, a blockchain startup, will contribute blockchain technology to the project, which will run from April until the end of June.

This proof of concept follows NRI's initial test conducted in October 2015, which was done with Nomura Securities and focused on blockchain's ability to decentralize information and resist data tampering when handling stockholders' accounts.

"NRI is thrilled to work with JPX and our partners in identifying the potential of blockchain across the securities industry," says Minoru Yokote, senior managing director of NRI. "As the industry increasingly looks toward what blockchain can provide to enhance operations and technology, we are focused on determining all the challenges and potential benefits of blockchain for future applications across the securities industry."

 

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