2 min Analytics

Akamai and Mitsubishi come together with blockchain payment platform

Akamai and Mitsubishi come together with blockchain payment platform

Akamai and the Mitsubishi UFJ Financial Group enter into a joint venture: the Global Open Network (GO-NET). The plan is to offer within that joint venture a new online payment network based on blockchain. This should secure a new generation of transactions, make them scalable and also make them responsive.

GO-NET is the result of three years of close cooperation between the two companies. Both Akamai and Mitsubishi are investing in GO-NET, which should be available in Japan from the first half of 2020. Expansion to other countries is planned, but it is not yet certain when exactly this will happen.

Complete set

GO-NET must offer a complete set of services. For example, there must be support for existing payment functions, pay-per-use services, micro-payments and new and emerging IoT-related transactions. Akamai’s blockchain-as-a-service solution is critical to the joint venture. The payment network continues to use Akamai’s Intelligent Edge Platform, and will form the basis for this.

According to the company, Akamai’s blockchain solution can handle more than 1 million transactions per second, with a two-second delay per transaction. Transactions processed by the platform are secured with Akamai’s cloud security. Mitsubishi also provides the necessary knowledge of financial services and its expertise in business development to bring growth and success to the joint venture.

Consumers should

CEO and co-founder of Akamai, Dr. Tom Leighton, said the joint venture is preparing for a new blockchain-based online payment platform that will better serve the interests of consumers and partners. According to Leighton, the basis for this joint venture has already been laid in other collaborations between the two companies over the past three years.

Hironori Kamezawa, CEO of GO-NET, said that financial services must embrace digital innovation to meet the growing demand for security, capacity and efficiency. GO-NET wants to respond to the changing market and meet new demands from consumers.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.