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Hitachi to implement Tech Bureau’s Mijin blockchain technology to PointInfinity
Tech Bureau, a blockchain company headquartered in Osaka, has announced that it is offering its Mijin platform to the blockchain application test of Hitachi Solutions’ point management solution “PointInfinity”.
Mijin is software that can build a private blockchain site for use within a business or inter-business, from the standpoint of the cloud or within the data center of one’s company. A product of Tech Bureau, Mijin blockchain’s applicable functionality has been proven as a bank, a microfinance ledger and an electronic money core banking system.
The platform is proving its applicability in cases where it is assumed the actual use of the core banking system that executes a large number of transactions is over multiple locations, or a point service where transactions of many locations are concentrated in one place, and for electronic money and financial services where complicated interest rate calculations are necessary.
“Through an operational test of large-scale electronic money core banking systems, stability was maintained even at times where the test servers took damage, and it succeeded with an average speed of over 3,000 transactions per second and the highest reaching 4,142 transactions being processed with and settled. “Mijin” is being used in such a wide scope, that 311 companies from 15 countries, from financial institutions to electronic money, points, online gaming and logistics, have applied for a demonstration”, the release said.
PointInfinity makes use of an abundance of data-driven results and application know-how and offers member management and a point (money) management system. It is a low-cost solution and can be implemented in a short period of time, while offering a high level of security.
According to the official announcement, PointInfinity will leverage Mijin to verify the predictability of the blockchain technology application that has entered into product development and expansion. Hitachi solutions currently has over 150 million members on its point management solution and Hitachi will engage in this proof of concept. The test started on the 9th of February, 2017.
“In this particular blockchain use case, Hitachi solutions will verify the feasibility of “PointInfinity”, through a large amount of transactions and electronic payments on multiple blockchains. In addition, based on the positive result of this test and data analysis, Hitachi solutions will position a plan to enhance its point service model”, the announcement read.