is progressing to unleash its own coin by March 2018. The MUFG coin will have parity with the Japanese yen and might be unrolled to the employees of the financial services cluster initial. it's going to modify traditional transactions, like looking or transfer of money between individuals (for example, ripping off a bill once a meal or drinks), at lots of lower costs as compared to credit cards.
Banks, that were reluctant to embrace cryptocurrencies, have a lot of and a lot of rapt towards developing their own coins or adopting the underlying technology to contour operations. for example, six banks, further as MUFG, joined UBS Bank’s Utility Settlement Coin (USC) syndicate last year. The coin is interchangeable at parity with a basket of currencies and is anticipated to be discharged in an exceedingly restricted manner by the highest of 2018.
Users will get to provide wallets thus on use the cryptocurrency, and MUFG will handle the method of the transactions internally. Mitsubishi UFJ financial conducted tests to roll out the coin in 2016 and pledged with cryptocurrency exchange GDAX, go past Coinbase, last year.
As a transaction currency it could work. But as long as the issue scheme is tied to an obscure group of men in a dark back room, the fundamental flaw remains.
Maybe you are right.
I think that as a currency for transactions, I wonder if it will be truly scalable... Especially with a population as large as Japan's it will be difficult to have high fees and speedy transactions, which is required for a crypto such as this one. The block times will have to be tiny as well... but if it can scale well, it has a very bright future!
Nice article! Definitely giving you the upvote and follow!
wait and see.
helping post bro....
Thanks