Japan’ s primary bank is testing blockchain tech but has narrowed its work to research, relating to one of its senior officials.

Deputy governor Haruhiko Kuroda  spoke above today during the Paris EUROPLACE Financial Forum in Tokyo. In remarks, he chatted about the opportunities and obstacle regarding new kinds of applied science in finance today.

Earlier this year, Kuroda  speculated that blockchain would reshape some financial regarding the, and in May called on other banks to pursue research energy like the ones currently being taken on by the Bank of Okazaki, japan. Some of the world’s  central banks, in particular those in Canada , Singapore plant life UK , have tempted in the past year and portion to explore  possible software in the areas of transaction compensation and financial monitoring.

Yet according to Kuroda, the Bank of Japan isn’ t looking to apply those tech to its own work, instead focusing squarely referring to research.

Kuroda told attendees:

“ Accordingly, employees in the Payment and Negotiation Systems Department of the Count are deepening their clues about such new technologies by – test-driving distributed ledgers. Realize that these trials by the Bank’s staff simply aim to understand mechanics of DLT, need to have applying it to the Bank’s different liabilities or its payments and settlement systems. ”

Japan’ s financial sector, alternatively, is putting its past years research into action.

Last week, several most significant Japanese banks released the initial results of a major interbank payments trial. In conformity with those involved, the essence system used enabled more inexpensive transactions compared to existing tricks, setting the stage a lot more research.

Bankers across the Asian-Pacific region have spent most of the  past two years looking into the tech, both nonetheless and as part of consortia efforts.

Image via Shutterstock

Banking institution of Japan central banks