cxo voice
  • Home
  • News
  • View Points
  • Leaders Talk
  • Cyber Security
  • AI
  • Blockchain
No Result
View All Result
  • Home
  • News
  • View Points
  • Leaders Talk
  • Cyber Security
  • AI
  • Blockchain
No Result
View All Result
Leaders Interview, IT and Technology News India | CXO VOICE
No Result
View All Result

Home » Blockchain » Akamai and MUFG form Partnership for Blockchain Based Payment Network

Akamai and MUFG form Partnership for Blockchain Based Payment Network

Deepa Sharma by Deepa Sharma
February 14, 2019
Reading Time: 3min read
Akamai and MUFG, Blockchain-Based Online Payment Network
Share on FacebookShare on TwitterShare on LinkedinShare via E-Mail

Akamai Technologies and Mitsubishi UFJ Financial Group (MUFG) today form partnership through the establishment of a joint venture. This Akamai and MUFG joint venture sets the stage for a new blockchain-based online payment system that can better serve customers’ and partners’ payment processing needs.

Throughout their collaboration, Akamai and MUFG have drawn upon their experience as leaders in their respective industries. Akamai has leveraged its decades of experience in developing and deploying distributed systems at global scale, along with market-leading performance and security services, in building the Blockchain as a Service technology. MUFG has leveraged its vast presence and expertise in providing financial services at a global scale. The new payment network is expected to offer differentiated services with improved scalability, reliability, performance and security.

Critical to the joint venture will be Akamai’s innovative Blockchain as a Service solution, which will leverage its globally distributed Intelligent Edge Platform to power the online payment network. Akamai’s Blockchain solution is proven to be capable of processing more than one million transactions per second at under two-second latency per transaction, which is orders of magnitude faster than existing solutions. In addition, transactions executed on the platform will be secured and accelerated by Akamai’s market-leading cloud security and performance offerings, which positions it extremely well as a robust enterprise platform for real-time transactions at scale. 

MUFG, as one of the world’s leading global financial groups with a long history and excellent reputation for trust, will provide extensive know-how of financial services and expertise in business development to bring sustainable growth and success to the joint venture.

  • Read More: Major Technology Acquisitions of 2018

“This joint venture with MUFG sets the stage for a new blockchain-based online payment system that can better serve customers’ and partners’ payment processing needs,” said Dr. Tom Leighton, CEO and co-founder of Akamai. “The collaboration between MUFG and Akamai over the last three years has demonstrated what is possible when industry leaders join forces to solve a challenging problem. Akamai and MUFG are committed to delivering innovative solutions at a level of security, scale and responsiveness never before achieved.”

“Financial services need to embrace digital innovation to meet greater demands for security, capacity and efficiencies, and to serve evolving market and consumer needs,” said Hironori Kamezawa, Group CDTO of MUFG and CEO of GO-NET. “MUFG has high expectations for our joint venture with Akamai. Our goal is to enable rapid innovation in digital payment services, leveraging a transformative platform, with built-in security, hyper-scale and efficiencies. GO-NET aims to expand the payment network business to a global scale, and enhance the services to support diverse payment ideas in the upcoming IoT era.”

GO-NET is the result of more than three years of close collaboration between Akamai and MUFG.  Both Akamai and MUFG will be investors in GO-NET, which is expected to make the new payment network available in Japan during the first half of 2020. GO-NET aims to provide a comprehensive set of services, including support for existing payment processing functions, pay-per-use, micropayments and other developing IoT-enabled payment transactions.

Tags: AkamaiAkamai and MUFGBlockchain Based Payment NetworkMUFGPayment Network
Deepa Sharma

Deepa Sharma

Senior Writer and Editor at CXO VOICE, She covers technology, cybersecurity, and financial and other tech news and updates. She can be reached at "[email protected]"

Related Posts

IBM world wire
Blockchain

IBM Launches Blockchain Based Global Payment Network World Wire

March 19, 2019
Load More
Next Post
common AI myths

Gartner Clarifies Five Common Myths and Misconceptions about Artificial Intelligence (AI)

ADVERTISEMENT

Expert Views

Key Fintech Trends to look out for in 2021
Finance

Key Fintech Trends to look out for in 2021

January 8, 2021
Banking cybersecurity
Cyber Security

Why Banks and NBFCs must exercise extra cybersecurity measures during festival times?

December 11, 2020
impact of Covid-19 on retirement planning
Insurance

The impact of Covid-19 on retirement planning

December 1, 2020
Cyber Security Awareness
Cyber Security

Five Ways To Enhance Cyber Security Awareness

November 18, 2020
Low Code: Transforming Banking, Today and Tomorrow
Banking

Low Code: Transforming Banking, Today and Tomorrow

November 9, 2020

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Inerviews

Enterprises, and MSMEs IoT
Leaders Talk

IoT is now seen as an essential enabler for the enterprises to be future ready : Joyjeet Bose

-
Security While Working Remotely interview with Filip Coftas
Cyber Security

Security While Working Remotely [Interview]

-
Akita Security Device Help you Protect your Security During COVID-19 [Interview with Zakir Hussain]
COVID-19

Can Akita Security Device Help you Protect your Security During COVID-19 [Interview]

-
digital transformation and customer experience Newgen software
Interview

Digital Transformation Journey helps Newgen Software Improve Customer Experience [Interview]

-

Entrepreneur

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

Significance Of Ethical Entrepreneurship In The Post COVID-19 Economy

Five tips for entrepreneurs to tide over the coronavirus crisis

CXO VOICE is a premier resource for the enterprises, SMBs and Startups CXOs and business leaders, It enables CXOs and business executives gain access key insights, experts views, analysis, business strategy, and leaders interviews on what’s happening in the market and its impact.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

[email protected]

Newsletter

Subscribe to our mailing list to receives newsletter direct to your inbox!

  • Home
  • About
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

© 2018 CXO VOICE

No Result
View All Result
  • Home
  • News
  • View Points
  • Leaders Talk
  • Cyber Security
  • AI
  • Blockchain

© 2018 CXO VOICE