Blockchain, partnership between Japanese banks

Nine Japanese financial institutions are cooperating together with Fujitsu to apply the blockchain in inter-bank settlement system. Marin Marinov on Cryptovest explains that at the beginning small-scale transactions will be carried out. Fujitsu will also allow peer-to-peer money transfer.
Fujitsu explains that “This field trial […] will use a dedicated “digital currency” for interbank settlements to evaluate the functionality of the system as an economical new interbank funds transfer settlement system for small-scale transactions using a real time gross settlement (RTGS) method.”