The partnership will initially see the two companies working on a blockchain proof-of-concept focused on the exchange of promissory notes.
A promissory note is an agreement under which one party promises to pay another at a certain date and time (or on demand) at a specified price. Chain and MUFG will work on a platform for the digitized exchange of promissory notes
MUFG, one of a number of global banks working as part of the R3CEV-led blockchain consortium, has been conducting internal tests of the technology for some time.
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