Mijin is a Japanese-developed open source financial technology (fintech) platform, currently in development, that utilizes blockchain technologies to reduce the costs associated with financial institutional infrastructures. Mijin aims to do this by using a series of redundant cloud-based servers to create a highly impervious fintech network to record and facilitate financial transactions.
What Is Mijin?
Mijin, which takes its name from a weapon that was attributed to ancient ninja spies and assassins, is a product of Tech Bureau Corporation, a company that provides Bitcoin exchange services to customers in Japan. According to the best translation we could access for Tech Bureau’s Japanese language-only site, the company CEO, or “”Representative Director,” is Takao Asamiyama, having held that role since 2014.
Mijin Product & Opportunity
For now, Mijin seems to be in the closed beta phase, with individuals interested in participating able to apply for either the “free flight” test or the paid test, which costs $7000 USD. However, the last time the Mijin site was updated was well before September 2016, which is when the beta phase is listed as coming to an end.
This may indicate that Mijin as a service, and Tech Bureau as a company, may not be in operation currently.
It’s hard to tell what kind of opportunity Mijin provides, thanks to its woefully out-of-date website. Ostensibly, access to the beta might pave the way to using the service to solve a fintech need for your own company, but it’s simply unclear.
Between an out-of-date website, the English-to-Japanese language barrier, and the lack of any true explanation as to how Mijin is going to be applied to a broader business audience, there’s not much here to look at right now. If you’re fluent in Japanese, you’re welcome to take a closer look, but for most of us it doesn’t seem Mijin is currently active.