ORIX Corporation, ORIX Bank Corporation, The Shizuoka Bank, NTT DATA Corporation and NTT DOCOMO Ventures have announced a joint research programme to investigate the implications of the blockchain technology.

The move will include building a prototype blockchain model and conducting proof-of-concept testing, claim the companies in a joint news release. Together the firms aim to analyse the technology’s applicability in the financial sector.

The five corporations divided their roles in the project according to the fields they specialise in. Thus, NTT DATA will be responsible for the technological aspect. ORIX and the two banks will study the financial implementations of the technology such as overseas payments and settlement from the point of view of the customer. NTT DOCOMO Ventures will facilitate the collaboration of the companies involved and various blockchain startups so that the project remains in contact with the outside world.

In addition, the companies are intending to investigate possible implications of blockchain in non-financial fields.

The joint statement comes in the wake of similar moves by various corporations and regulative institutions declaring the launch of blockchain research programmes, among them EPAM, ISITC, JPMorgan, the Linux Foundation, the Bank of England, and, notably, the electronics giant Sony.  

NTT DATA is a global IT innovator and an expert in big data and business analysis. The company may find it crucial to be able to implement blockchain soon taking into consideration the technology’s potential for storing and registering data. NTT DOCOMO Ventures is NTT Group’s corporate venture capital firm that concentrates on innovative projects and invests in technologically promising startups.

Shizuoka Bank represents the Shizuoka Banking Group, which mainly works in the eponymous region and remains one of the most important regional banking consortiums in Japan. 

ORIX Corporation has a wide specialisation in lending, investment, life insurance, banking, asset management, automobiles, real estate, environment and energy-related business.

 

Andrew Levich