Yesterday Akamai Technologies and Mitsubishi UFJ Financial Group, Japan’s largest bank,
announced they are jointly establishing a blockchain-based payment network called Global Open Network (GO-NET). This is an extension of the relationship announced in May last year.
The new payment service will be available in the first half of 2020. It’s more than a mobile payments network as there’s an emphasis on IoT. The announcement described functionality to include IOT-enabled payment, micropayments, pay-per-use, and existing payment processing functions. It’s unclear if there’s any cross over with the planned MUFG Coin, as there is no mention of it either in this or the May 2018 announcement.
Akamai says its Blockchain as a Service solution is capable of processing a million transactions per second with two-second finality.
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