SBI Holdings, Inc., SBI BITS Co., Ltd., and NEC Corporation, in their capacity as members of the financial institution consortium studying distributed ledger technology (DLT), contributed to JPX Working Paper Vol.23 summarizing the results of PoC testing on the utilization of blockchain technology in KYC operations.
This PoC testing explored how the information sharing functions of blockchain technology might improve convenience for customers and efficiency of KYC operations for securities companies, which are required for such tasks as opening new accounts.
In order to find solutions for mutual issues in the industry, 15 securities firms and trust banks participated in the PoC testing and engaged in active discussion on methods for utilizing blockchain technology.