“The participants will install an app on their smartphones that converts their deposits into the digital currency. The bank officials will check to see if the settlements are carried out smoothly and in a secure way. For the future, they're considering tie-ups with a wide range of businesses to offer services based on the currency.”This is a really exciting time for cryptocurrency within Japan and of course, the roll out of MUFG will allow a whole new customer base to experience some of the benefits that a controlled cryptocurrency can provide. By being centrally located within MUFG, the currency should be safe and relatively easy to handle, therefore the risk of the volatile market is established. Essentially, this currency is not an investment opportunity (just yet) it has been designed to see how well cryptocurrencies can be integrated into mainstream life, by using technology such as smart phone apps and of course, the blockchain. It will be very interesting to see how this story develops. Hopefully we can get hold of some of the data collected soon enough!