The test used the Open Assets Protocol, a commonly deployed implementation of colored coins that provides an added layer of functionality to the Bitcoin blockchain. Using Open Assets, Bitcoins can be specially marked to represent other assets on the blockchain.
The participants said that the test, which took place between December 2015 and February 2016, showed that post-trade processing times can be reduced using blockchain applications.
The trials aim was to seek a method of facilitating the post-trade process that would both shorten the time involved as well as reduce the possibility of data tampering.
That project sees Mizuho partnering with Information Services International-Dentsu (ISID), Microsoft Japan and blockchain startup Currency Port.
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