Ripple blockchain to improve Japanese domestic payments

The new app provides 24/7 domestic payment processing in Japan utilizing Ripple blockchain
07 March 2018   1701

Japan has long been on the edge of leading technology advancements. Now, the Japan Bank Consortium proves this again by developing a new smartphone application called MoneyTap. It's a new app powered by Ripple blockchain which allows users to settle transactions instantly at any time of any day.

MoneyTap is the first app of its kind. Its developed and used by all the banks in Japan Bank Consortium. Theoretically, any user of this banks can transfer money on the moment's notice to any account in the network. The usage for now is limited to domestic payments, but they will be processed 24/7.

Domestic payments in Japan are now limited to weekdays between 8:30 AM and 3:30 PM, or else one can face delays in processing their payments. So, the new system will be quite beneficial from the start.

MoneyTap will allow not only the bank consortium users to make instant payments, but promises to reduce processing costs and fees, making the whole system perform more efficiently. CEO of SBI Ripple Asia, Takashi Okita said that using Ripple blockchain technology overall improves the payment infrastructure in Japan.

Japan Bank Consortium is led by SBI Ripple Asia and covers more than 80% of all banking assets in the country. Three banks will be covered by the new application from the start in the autumn of 2018 – SBI Net Sumishin Bank, Suruga Bank and Resona Bank. Support for other members of the Consortium will be rolled out in waves after the initial launch.

Giant Mining Solar Powered Farm to Created in California

Plouton Mining will allocate solar panels on 49 acres and it's planned they should generate about 10-13 megawatts per day, working for an average of 12 hours
26 June 2019   54

Plouton Mining, a subsidiary of Plouton Group Holding, intends to open the largest Bitcoin farm in North America for mining, whose operations will be provided by solar energy. To this end, the firm chose a territory in the western part of the Mojave Desert, California.

Plouton Mining will place solar panels on 49 acres: they should generate about 10-13 megawatts per day, working for an average of 12 hours. The company stressed that Western Mojave receives sunlight for 70% of the year.

The company will also sign the necessary contracts with local electricity suppliers in order to operate the farm in the absence of solar radiation.

Meanwhile, the bitcoin hashrate has again updated the historical maximum at 66.666 EX / s.