Nomura Research Institute launches blockchain study

Blockchain technology is slowly gaining acceptance from all the corners of the world. The blockchain technology is nothing but a decentralized public ledger that no one person or company owns or controls; users control it directly. This means it allows anyone track the movement of a bitcoin, from where it originated to where it currently resides. The technology is not just limited to bitcoin but has much broader applications.

Following the same line of thought, Nomura Research Institute (NRI), a leading think-tank and systems integrator in Japan, has recently announced that it will examine the feasibility of implementing blockchain in the securities industry this month, in efforts to start facilitating open innovation.

“The unique value created by the merger of existing business with advanced technologies and services provided by new ventures, such as blockchain, is a large area of interest for the financial services industry in Japan and worldwide”, it said in a press release.

NRI will conduct the study in collaboration with Nomura Securities Co., Ltd., along with other technology startup firms. The study is expected to complete by January 2016 and the results will be used to examine opportunities for practical application.

"We have done work on blockchain technology before this project, but it was internal. This is our first time to collaborate with external companies regarding a proof of concept project on blockchain technology”, a company spokesperson told CoinDesk.

The financial and technology sectors are increasingly coming closer and now being termed as ‘FinTech’ sector. The Japanese think-tank’s continuous efforts to promote open innovation drive this study.

"NRI always strives to create new values by increasing the value of the solutions and innovating in new fields, and open innovation is one of the means to achieve that goal”, the spokesperson added.