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Post by Soutpeel on May 24, 2018 11:53:49 GMT 7
Mitsubishi Announces Successful Pilot Payment With Leading Thai Bank’s Blockchain Recently it was reported that several large global banks have already successfully completed a cross-border payment pilot project by using Thai bank Krungsri’s (Bank of Ayudhya) Blockchain Interledger. The recent pilot project, which was conducted in the Bank of Thailand’s (BOT) regulatory sandbox, was reportedly conducted by Japan’s Mitsubishi Group together with their banking unit MUFG Bank, and the Standard Chartered Singapore bank. The key function to be tested within the pilot project was the money transfer from a Thailand-based Mitsubishi Group subsidiary to the Standard Chartered account of a Singapore-based Mitsubishi Group Subsidiary. The aim of the test was to perform the transaction in a period of just several seconds by using Kungsri’s Interledger technology. As confirmed the pilot project was successful and the parties are currently considering further development of the system. Representatives of the involved parties have expressed positive opinions about the pilot test project as well as highlighted the huge potential of the new technology to become a powerful and useful tool in improving the entire process of making payments in terms of efficiency and flexibility. ripplenews.tech/2018/05/23/mitsubishi-announces-successful-pilot-payment-leading-thai-banks-blockchain/
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Post by Fletchsmile on May 24, 2018 14:52:27 GMT 7
Another example of why Thailand needs the innovation of foreign banks. Until the time local Thai banks can work out how to copy it, that it is. Then of course dominate the market locally because of their size and oligopoly, and then push the foreign banks out again .
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Post by Soutpeel on May 24, 2018 15:01:24 GMT 7
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Post by Fletchsmile on May 24, 2018 15:36:16 GMT 7
You can guarantee that out of Krungrsi/Mitsubishi, it's the Mitsubishi part driving the innovation. So the foreign element driving it. The Thai element is there because of the foreign parent.
Yes Ripple is an interesting one.
At some point I may get round to taking a punt on a few cryptos and seeing which ones pay off and which ones tank. You can probably afford 9 losers if the 10th one really takes off. Problem at the moment for us is freeing up spare cash to to just write off in the event of failure. Needs to be money you can just walk away from. We've a few other priorities to sort first
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Post by Soutpeel on May 24, 2018 16:42:24 GMT 7
You can guarantee that out of Krungrsi/Mitsubishi, it's the Mitsubishi part driving the innovation. So the foreign element driving it. The Thai element is there because of the foreign parent.
Yes Ripple is an interesting one. At some point I may get round to taking a punt on a few cryptos and seeing which ones pay off and which ones tank. You can probably afford 9 losers if the 10th one really takes off. Problem at the moment for us is freeing up spare cash to to just write off in the event of failure. Needs to be money you can just walk away from. We've a few other priorities to sort first You certainly have to get into this with spare cash ie your prepared to walk away from if it all goes tits up. .but it does seem day by day the crypto market is gaining recognition as "real" investment instruments...reading up on the likes Ripple, even if they replace only 10% of the nostro /vostro accounts and go into competition with the likes of Swift, i have XRP values of around USD 300/coin predicted, if the other rumours prove true...Amazon, Apple Pay etc...the skys the limit literally At present the whole market is on slump at the prospect of regulation and the possiblites that the US declares them a security etc so now is good time to take a punt...
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