GMO Aozora Net Bank: GMO Internet’s Web Bank To Use Blockchain For Payments

The Japanese digital services team at the online firm GMO Internet, recently revealed a brand-new bank that it stated will soon become a blockchain oriented company to facilitate payments for the users.

The new launch by the firm was done because the company had noticed that it needed to team up with Aozora Bank Group on the partnership business, and that the two enterprises had been getting ready for launch of the newest gen bank since middle 2016.

The new business enterprise called GMO Aozora Net Bank Entity – holds the purpose to give new financial services by integrating fintech and IT. It will be used to leverage advanced security certificates, AI, Machine Learning, blockchain technology, and the Internet of Things, as it reads in the company document.

During a recent press release, the new bank stated it will work with GMO Internet “to develop a new settlement system using the power of blockchain technology.

By using blockchain technology, breakthroughs are expected to flow for better, more secure and cost-effective payments as well as financial services online.

During the next future months, GMO Aozora Net Bank will push things along with new plans to see start a type of platform bank. The purpose of this is to make payments easier with a stronger framework used for other firms under a licensing process known as white label.

The new bank launch is an important event, it’s GMOs newest project that uses blockchain and cryptocurrencies following the launch of the company’s exchange in May 2017. They then followed that with a big move into Bitcoin investing & mining later in the year in September.

Just last month, the firm unleashed a new plan to launch their own Bitcoin miner that will ship out in October – it will use the first 7nm chip technology in the world.