The Japanese company GMO Internet Inc. July 17, Tuesday, launched a new service of Internet banking, which will use the blockchain technology.

A distributed registry is a key technological element of the new service, however, in addition to the blockchain in the system will apply the artificial intelligence and the Internet of things. Work on the project was carried out from July 2016, and since then the team has managed to attract investors from the most GMO Internet, GMO Financial Holdings and Aozora Bank. As the company claims, the new service in the future could significantly increase the value of the Corporation.

It is reported that the new Internet Bank will be able to use corporate and private clients of GMO. Mainly, it is focused on businesses engaged in electronic Commerce, and adapts them for the main services — Deposit transactions and currency exchange. The service will offer the products of partner companies working in securities.

The decision to use blockchain technology in its new product to GMO accidental. Previously, the company has invested in cryptocurrency and blockchain startups, and last year launched its own crypto currency exchange GMO Coin. In addition, one of the areas of GMO is an industrial mining: in 2017, the company opened a farm in Europe, and then was engaged in creation of equipment for mining, in particular, has developed a 7-nanometer chips. In July, GMO presented a new miner for mining bitcoin ASIC built on these chips.

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