Intending to digitize trade paperwork, Toyota Tsusho, Sompo Japan insurance, the MUFG Bank, Nichido Fire insurance, Kanematsu, and a Japanese Bank are the seven Japanese companies preparing to invest in a new trade data management system. As per the sources, the platform uses blockchain technology to prevent malicious third-parties from tampering with the recorded data. This new service will help in digitizing and processing other related documents handled by the insurance and the logistics companies.
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