"37 financial institutions such as SMBC and Resona Bank will begin remittance experiments from two Korean major banks and 15th, utilizing the technology of Ripple. Using block chain technology that multiple transaction participants share and authenticate transaction history, it cuts costs by nearly 30%, and it is said that overseas remittance can be done on the same day. It is actually used between Japan and Korea as early next spring.
The SBI Ripple Asia affiliate, which is affiliated with SBI Holdings, is the leader of the demonstration experiments conducted by the alliance of 61 financial institutions. South Korea's venture company, Daily Intelligence (Seoul City), which provides block chain technology etc., will compile banks in Korea.
This time we will use Ripple's block chain technology, but ultimately we would like to utilize the virtual currency (XRP). Once remitting yen or won by changing it to virtual currency, the remittance cost can be reduced by 60% compared to the present in trial calculations.
The Japanese side has already finished developing the system for commercialization. The demonstration experiment is scheduled for about a month and a half until January 31. "
De XRP is nu nog een koopje, als de test slaagt dat gaat de koers de lucht in door de samenwerking met de banken.