E-commerce giant Rakuten has acquired the IP assets of the Bitnet payment platform in addition to opened a blockchain lab inwards Belfast, U.K.
Rakuten Blockchain Lab (RBL) volition endure a interrogation in addition to evolution organization focused on blockchain engineering in addition to its applications to fintech in addition to e-commerce. Rakuten invested inwards Bitnet Technologies Ltd., a blockchain-powered digital payments platform, inwards 2014.
Rakuten began accepting bitcoin payments concluding yr using Bitnet, CCN reported. Rakuten.com is like to Amazon inwards that it serves equally a platform for multiple merchants, all of whom postulate maintain been able to accept bitcoin through the Bitnet partnership.
Bitnet Veterans To Run Lab
Stephen McNamara, Bitnet’s master copy engineering officer, in addition to Fergal Downey, vice president of engineering, volition oversee RBL’s day-to-day operations. The lab volition endure constituent of Rakuten’s ecosystem services organization nether its engineering division, led yesteryear Fernando Paulo, Rakuten executive officer.
“Drawing on the meaning IP assets in addition to deep engineering scientific discipline expertise of the Bitnet squad in addition to combining that amongst Rakuten’s leadership inwards fintech in addition to back upwardly of innovative solutions, the novel Rakuten Blockchain Lab volition endure our showtime footstep toward unlocking blockchain’s potential to revolutionize the agency that fiscal in addition to e-commerce transactions are conducted,” said Yasufumi Hirai, grouping executive vice president, master copy data officer, master copy data safety officeholder in addition to caput of Rakuten’s engineering division.
Focus: Fintech And E-Commerce
“We are delighted that Rakuten has chosen to opened upwardly their novel Blockchain lab hither inwards Belfast,” said Downey. “There are in addition to hence many groovy opportunities for blockchain technologies within Rakuten in addition to the newly created lab volition endure instrumental inwards delivering novel in addition to innovative solutions.”
Rakuten’s achieve into payments, banking, insurance in addition to digital services positions the fellowship equally a fintech leader, McNamara noted inwards a Rakuten blog. “We’re looking forwards to exploring in addition to creating many novel interesting applications of blockchain engineering for Rakuten in addition to their customers,” he said.
Downey noted Belfast has a strong engineering scientific discipline community inwards Belfast that the lab volition create goodness from.
Rakuten Seeks Pioneering Role
Hirai said it is possible that blockchain volition revolutionize fiscal in addition to e-commercetransactions. “We desire to non entirely laid for that change, but convey a leading usage inwards making it happen,” he said.
Paulo said no specific applications are planned yet. The see is to usage the lab to experiment.
“Rakuten is already known for its leadership seat inwards fintech inwards Japan, in addition to the launch of the novel Rakuten Blockchain Lab represents a fantastic chance for us to speedily grow our in-house blockchain capabilities,” said Oskar Miel, managing partner of Rakuten Fintech Fund, who inwards 2014 led Rakuten’s minority investment inwards Bitnet.
