Mitsubishi UFJ Financial Group (MUFG), the world’s fifth-largest bank by assets and largest in Japan, has announced the development of a new blockchain platform that will process a million transaction a second.
Teaming up with Akamai Technologies, MUFG plans to launch the new service in 2019 and will leverage the former’s cloud delivery platform to ensure a smooth rollout. According to both, under normal conditions, the Akamai solution was able to process transactions in less than 2 seconds.
On top of that, the system was able to chew through one million transactions a second, and MUFG reckons that there could be scope for that number to increase to 10 million.
Source/More: Japan’s largest bank plans 2019 blockchain service with two-second transaction speeds – IBS Intelligence